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Benchmarking Your Business

The SBA offers a really nifty tool to benchmark your business against others in your area, identify competitors and plan your advertising. SizeUp can also help you map customers and suppliers.

It’s really easy to use.

Go to www.sba.gov/sizeup

Enter your industry and location.

In the My Business Tab, plug in your numbers. For instance, if you put in your revenue, a bar chart will show how you compare with your country, the metro, the state and the nation.

The Competition tab will show you a map of similar businesses.  There’s a neat pull down menu that highlights what consumers spend on different items. In this section you can also search for the kinds of businesses that buy from you (Customers) and also those who can serve your business needs (Suppliers).

The Advertising tab provides demographic data regarding the zip codes that buy your particular product or service.

Note: SizeUp will give you the top three results in each search. If you want all the results, you have to sign in.