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UCLA Creates Index to Track Online Microbusinesses

By City News Service Photo: Getty Images LOS ANGELES (CNS) - UCLA economists announced today they have a created a tool for tracking online microbusinesses to show how they contribute to local economic growth. According to the UCLA Anderson School of Management, economists Leila Bengali and William Yu developed the index to track the activity of online microbusinesses at the national, state, core-based statistical area (CBSA) and county levels, demonstrating for the first time a way to monitor the activity of an important but often overlooked driver of the economy. “Our aim was to create an index that measures online microbusinesses, and that picked up facets that correlate with local labor markets and economic activity, Bengali and Yu said in a joint statement. “The index and report shows through statistical techniques the unique characteristics and substantial impact microbusiness owners and their businesses have on their local economies.

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