How does your business ‘sizeup?’ Can you afford the co$t of not knowing?
The Small Business Administration offers a free market research tool for small businesses and entrepreneurs. SizeUp provides highly specific data on virtually every industry and geographic region in the country, including information on revenues, salaries, health insurance costs, supplier locations, and more. For example, a small business can compare revenues generated to business in the industry, in the city/county, in the state, and in the nation. See sample benchmark data below.
SizeUp is a powerful tool that all entrepreneurs should add to the tool box. You can benchmark your business, map your competition, and find the best places to advertise. “SizeUp won’t tell you where you should advertise, how much you should pay your employees, or who you should use as your suppliers. But it will point you in the right direction — and at a cost of nothing, that looks to be a pretty good bargain.” SizeUp empowers small businesses to make smarter choices by providing many of the same types of business data and analysis used by much larger companies.
The SBA posted a video online that provides an informative introduction and user’s guide to the SizeUp tool. The fifteen minute training video provides an overview of the type of critical business intelligence (data and data analysis) available through SizeUp, how to use SizeUp, and how to create customized reports.
Content contributed by Denise Ehlen, State of Ingenuity SourceLink. State of Ingenuity SourceLink is a proud affiliate of U.S. SourceLink, America’s largest resource network for entrepreneurs.
