If you are a small business owner, you need to know how your business stacks up with the competition in order to succeed. A free tool released by the Small Business Administration, SizeUp, will help you manage and grow your business by benchmarking it against competitors, mapping your customers, competitors and suppliers, and locating the best places to advertise.
The tool helps businesses identify new customers and compare their performance against other businesses in their industry with data collected from hundreds of private and public sources.
- Enter your industry name. The site will begin showing industries that are a close match. Select the closest match to your industry.
- Enter your city’s name. The site will begin showing cities that match what you have entered. Select your city from the options provided.
- Select “My Business.” This will prompt you to enter more information about your business to provide insight on how you rank with your competitors.
- Select “Competitors.” This will show you your closest competitors on a map.
- Select “Advertising.” This shows a map of the best places for you to spend your advertising dollars.
The tool can be found at www.sba.gov/sizeup.
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