The Lake Worth Beach Community Redevelopment Agency is launching SIZE UP LWB on its website today, making powerful market research and business intelligence available to local businesses to help them succeed.
Local businesses can now access industry-specific and hyperlocal information to help them grow and make smarter decisions using Big Data analysis. The research is individually customized for each company. By using the website service local businesses are able to:
1. Rank their business performance compared to industry competitors
2. Discover potential customers, suppliers, and better understand their competitive landscape
3. Optimize advertising to target ideal customer segments
SIZE UP LWB helps to level the competitive business playing field by providing small businesses with similar market research that typically only large corporations can afford to access by contracting multinational management consulting companies or hiring internal research analysts. “In today’s information economy, if you don’t have access to information your business is at a significant disadvantage. With the launch of SizeUp on the Lake Worth Beach CRA’s website, we are empowering our small businesses in Lake Worth Beach to be able to make more data-driven decisions to better operate, succeed, and grow,” said, Joan Oliva, Executive Director, LWB CRA.
In the USA, over 99% of all companies are small businesses and small businesses create the majority of all net new private sector jobs (Source: US Small Business Administration and US Bureau of Labor Statistics). From 1993 to 2015 small businesses created 425% more net new jobs than large companies (Source: US Bureau of Labor Statistics). In addition, locally-owned businesses create a larger positive economic impact on the local economy because more money spent with them is re-spent locally. The LWB CRA is committed to helping our local businesses succeed. They are the foundation of our local economy, employ our residents, create new jobs, and make our community a more prosperous place. Providing SizeUp business assistance service on our website is another way in which we are partnering with our local businesses for their success,” said Commissioner Sara Malega, City of LWB.
SizeUp uses big data, cloud computing, and computer algorithms to deliver custom analysis for local businesses. The data comes from hundreds of public and proprietary data sources covering firmographic, demographic, geographic, labor, wage, cost, consumer spending, transportation, and more.
This new service provided by the LWB CRA is completely free to local businesses and available anytime through the Lake Worth Beach Community Redevelopment website at https://lakeworthbeach.sizeup.com/.