SBA Launches Web Research Tool
Tool Is Called SizeUp
The U.S. Small Business Administration (SBA) announced this week that it is introducing a new Internet-based tool to help companies research their markets. The free service, called SizeUp, helps businesses identify new customers and compare their performance against competitors with data collected from hundreds of private and public sources.
"Market research and analysis is critical for the success of any small business owner or entrepreneur. Tools like SizeUp deliver data right to the fingertips of business owners to help make smart decisions and have the greatest opportunity to start, grow, compete and succeed," said SBA Administrator Karen Mills. "In today's challenging economic environment where small businesses create nearly all net new jobs in the U.S., help for small businesses is more important than ever before."
The SBA says its new research tool works by analyzing a business in comparison to other similar businesses in the same trade and provides geographic information on the marketplace, areas recommended for advertising, and prospective customers. Data such as benchmarking information, mapping statistics and demographic reports to determine where to target marketing efforts is provided through the new system.
"This useful tech tool delivers market data directly to business owners to help them make better business decisions based on competitive research analysis," the SBA said in a statement.
The SBA's new SizeUp tool can be found at www.sba.gov/sizeup.