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Economic Development
SizeUp Featured on ABC News 10 for Business Help During COVID-19
ABC 10 News features SizeUp saying, “…we’re helping small businesses trying to stay open during the pandemic. So there is a free tool available through the Greater Sacramento Economic Council you should know about. So we’re talking about SizeUp. It uses business intelligence and market research to help companies evaluate their business plans. So you plug in your number on the website and you can analyze competitive benchmarks, find customers, suppliers, competitors and pinpoint the best location to advertise. SizeUp helps business owners improve and gain back lost revenue, help entrepreneurs looking to open a business and those recently laid off or going into self employment. “
“You can see these businesses are making strong moves and more efficient productive operations with less people,” said Barry Broome, president and CEO of Greater Sacramento Economic Council. “SizeUp is like a software program on a website that’s free for businesses that can go on and model their business.”
Sussex Combines Economic Gardening, SizeUp, and Loans for Small Business Growth
The Article “Focus on Western Sussex as County aims to help business” in Costal Point explains that “SizeUp lets people create customized reports for their specific industry. Tools include benchmarking to see how a business compares to competitors in the industry, as well as mapping of competition, customers and supplies. It also shows advertising and demographics, such as labor force and consumer spending in that area.” The information is available to local businesses on the Sussex County website.
“This is the same information — tools that large businesses use to make decisions,” but now it’s free for smaller businesses in Sussex, said Economic Development Director William Pfaff.
Decline in Business Attraction for Economic Development
Low unemployment and a tight labor market for skilled workers has diminished the value of the economic development strategy of business attraction. What works now is 1. Recruit quality labor, 2. Focus on entrepreneurs and small business, 3. Retain local businesses, 4. Workforce development, and 5. Improve quality of place. A discussion of the value of SizeUp LBI for local communities is included in the article. Read the whole article “Business Attraction Used to Be Great for Economic Development. Now It’s Not. Here’s What You Can Do.”
5 Online Trends Economic Developers Can’t Ignore
The white paper from the Financial Times’ fDi Intelligence, 5 Online Trends Economic Developers Can’t Ignore, includes the trend “Small is the New Big”. The article points out that there is greater value from economic development organizations focusing on small businesses that already exist in their communities instead of an exclusive focus on business attraction from outside of the area. According to the article, “today innovative economic development organizations are implementing online Business Retention and Expansion using the same ingenuity to bring mass service to their local businesses on their websites. The breakthrough online innovation which is making this happen is SizeUp LBI (Local Business Intelligence) which enables EDOs to empower their small business community with industry-accurate and geographically specific market research and data insights to help entrepreneurs make smarter decisions based on data.”
Read the full article on Linkedin or download the white paper.