Looking to expand or assess your business? Want a clear picture of your region’s demographics, markets and labor situation? Here’s a one-stop free resource for data like that, and more.
It’s called SizeUp, and it’s available free from the Small Business Administration.
SizeUp provides data analysis in three key ways:
- Benchmarking an existing business to see how it sizes up by comparing performance to all other competitors in the same industry;
- Mapping competition to see where competitors, customers, and suppliers are located; and
- Finding the best places to advertise by choosing from pre-set reports to discover areas with the highest industry revenue and the most underserved markets. Custom demographic reports can also be created.
When starting or managing your small business, defining your market using data analysis is an essential part of developing your business plan. For more help, SBA connects small businesses to its vast partner network, including Small Business Development Centers (SBDCs), Women’s Business Centers (WBCs), or SCORE where small businesses can receive hands-on mentoring and training to help them understand their opportunities and growth potential.
To find out more and use SizeUp as a business tool, go here.