Want to know how you stack up against the competition? Want to know where they are? Do you want to know the best places to advertise? SizeUp, a new online tool from the U.S. Small Business Administration (SBA), can answer those questions for your business.
If you want to get glance at the competition, their locations, and local advertising opportunities, you need only submit your type of industry and location, and a few more details. You’ll get reports that can help you:
- Benchmark your business. You’ll see how your business sizes up by comparing your performance to all other competitors in your industry.
- Map your competition. You can map where your competitors, customers, and suppliers are located. You can even isolate areas with many potential customers but little competition.
- Find the best places to advertise. SizeUp lets you choose from pre-set reports to find areas with the highest industry revenue and most underserved markets, or you can create a custom demographic report.
It’s a very simple process. For example, under the “My Business” tag, when you input your annual revenues, you’ll get a report that shows you how your grosses compare to those of similar businesses in your area code. Enter the year you started, and you’ll learn how the longevity of your business matches up against your competitors. Input your salary and you’ll learn where you stand against the average in your area. The site even includes a tutorial for using each of the three report-generation tools described above.