We know how important good data is for small businesses as they develop their business plans or look to grow their businesses. In the past, it has been challenging to get the information needed from a single source. Now, there’s a new tool available to help small businesses with their research needs.
Earlier this month, the U.S. Census Bureau released a tool to help small business owners explore data on demographics and economic information. The tool is called the Census Business Builder: Small Business Edition and provides information that is useful to new small businesses and to those looking to expand. The video below, from the U.S. Census Bureau website, provides an overview of the tool:
The tool was designed to be easy to use and allows each small business owner to select their type of business and anticipated business location. Because the tool is map-based, it is easy for business owners to look at surrounding areas to compare different jurisdictions to their neighboring areas.
The tool also allows users to download and print maps, data, and reports that can then be used in developing business plans or for other research purposes. The tool includes data from the American Community Survey 5-year Estimates, the County Business Patterns, Nonemployer Statistics, the Economic Census, and ESRI data on consumer spending.
Currently, the tool provides information on 49 business types in six categories: construction, food services, health care, personal services, professional services, and retail. The U.S. Census Bureau plans to continue adding business types in future iterations of the tool. Quarterly updates are planned and will include additional content and functionality.
In order to make the site user friendly, the U.S. Census Bureau has developed several video tutorials to walk users through the tool. These answer common questions about how to use the tool and demonstrate several of the features that business owners will find useful.
We are excited for this new tool and the potential it represents for our clients. If you have any questions about this tool or would like more information, please feel free to reach out to us. Happy researching!