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Resources

This page is intended to aid your research efforts as you perform an analysis of your business industry. The following steps should be utilized as a template to report major findings and organize your research.

Identify Your Industry

Determine the Standard Industrial Classification (SIC) and/or NAICS Code for the industry. Search the official NAICS website or the U.S. Department of Labor website for the code. This information is also available in the Reference section of your local library.

NAICS codes replaced SIC codes beginning in 1997 for use by industries in Canada, Mexico, and the United States. Combine industry title information with either the SIC or NAICS code. Some companies maintain more than one SIC code as they have more than one business.

Industry Overview

Include the following information:

  • Brief history of the industry
  • Factors that affect growth (examples include regulatory environment, consumer trends, changes in technology, etc.)
  • Leading businesses or competitors in the industry
  • Government regulations

Industry Trends, Statistics & Educational Materials

Include the following information:

  • Estimated size of the industry (In dollars and/or products/services sold)
  • Trends in sales over recent years
  • Current management & operational trends (examples include technology usage, environmentally-friendly practices, etc.)
  • Prevalent marketing strategies (what do successful competitors use?)
  • Seasonality of the industry, if any
  • Industry sensitivity to economic fluctuations, if any

Industry Developments, News, Innovations & Government Regulations

Library Resources

  • Standards & Poor’s Industry Surveys
  • US Industry & Trade Outlook
  • Encyclopedia of Emerging Industries (Gale Research)
  • Encyclopedia of American Industries (Gale Research)
  • Trade association magazines
  • Online databases (Dow Jones Interactive, InfoTrac, etc.)
  • Internet Resources (free or for purchase)
  • Trade Associations (Encyclopedia of Associations)
  • Hoovers Online- Company & Industry Section
  • MarketResearch.com- Retailer of private market research reports
  • SBDCnet
  • ZapData- Dun & Bradstreet offer free statistical industry data on their website. Free registration required.
  • BizStats
  • Better Business Bureau

Consumer Market Data

Demographic considerations:

  • Population/Household size
  • Ethnicity
  • Median income
  • Family status
  • Age
  • Housing status
  • Gender
  • Race

Psychographic considerations:

  • Lifestyle information
  • Purchase habits
  • Tastes and preferences

Library Resources

  • Lifestyle Market Analyst, SRDC- used for collecting psychographic data
  • Demographics USA County or Zip Code Editions, VNU Publishing

Internet Resources (free or for purchase)

  • Bureau of the Census website
  • ESRI, formerly CACI Marketing Solutions, provides free demographic data by zip code
  • EASI provides estimated demographic statistics by user-specified radii for any address
  • Applied Geographic Solutions’ Mosaic supplies psychographic data & analysis
Competitor Information

Include the following:

  • The major businesses in the industry
  • Their location(s)
  • Length of time they have been in business
  • Competitor market share (percentage of)

Library Resources

  • Colorado Business Directory
  • Encyclopedia of American Industries (Gale Research)
  • Harris InfoSource Business Directory

Internet Resources (free or for purchase)

  • Trade associations
  • Securities Exchange Commission (for research on public companies)
  • ReferenceUSA (subscription-based service for libraries & government agencies- see their parent company site, InfoUSA)
  • Dun & Bradstreet’s ZapData
  • Hoovers Online
  • Thomas Register or Thomas Regional- free registration is first required
  • Company websites

Search engines can be utilized to find additional resources and information. Use common industry jargon and search to see if identified trade associations have websites. Use quotes around a multi-word phrase when searching to ensure it will be treated as one phrase instead of several words. For questions about research strategies and resources, please contact us.

"The Take Action Marketing Series was invaluable for me as a small-business/non-profit director. Catherine McHale brought such helpful insight and expertise to these workshops, and she’s an empathetic and astute facilitator. I walked away so much more knowledgeable and confident in my approach to marketing, and armed with practical skills and strategies that I could begin to implement right away. I highly recommend!"
Joanna CaganWOW! Children's Museum
"The small business support from Colorado SBDC is phenomenal. The consultants are of the highest quality, high integrity, trustworthy and incredibly helpful. The time savings and ability to take on more work is facilitated by having this kind of support available to the small business, particularly in the technology sector."
Helen PetachRatiocinative Engineering Services LLC
"Dan, thank you for your efforts to help us get our EIDL. When I reached out to the SBDC, Sharon got back to me the same day and let me know that the SBDC would do what it could to help. By the end of the next day, Dan had put together a summary of the issues we were facing and sent it to his contact at the SBA. Just four business days later, our loan was approved! There is no shortage of challenges faced by small companies as they work tirelessly to succeed in a very competitive world, so it's great to know that there are organizations like the Boulder SBDC that we can turn to for help."
Michael DulbergSherpa Chai, LLC
“Thank you for organizing this great informative session on the PPP utilization part. I have been in conversation with Dan King and want you to know that you guys are doing a great job in helping small businesses like us. Thank you for all the work you guys do!”
DURGESH SINGHMagswitch Technology
"These [webinars] are super helpful and I can’t thank you and the [SBDC] for all your help for our small Colorado businesses. These are such hard and scary times - being connected does a world of good. Please thank all the panel participants as well. They’ve been fantastic! Best wishes to you and your colleagues and hope you’re all staying safe."
JacqueJourney's Aviation
"A big shout out to Dan and the staff of Boulder SBDC and the SBA from Mustards Last Stand. Thank you for your assistance in helping Mustards resolve a technical issue with our application for our second round funding of the PPP program. Without your assistance I would probably still be on hold listening to maddening music over and over and over again, while worrying the whole time. We appreciate the support from you and everyone else in this community that makes us proud to be an ongoing part of Boulder's business community."
Dan PolovinMustards Last Stand
“Thank you so much for your time! Besides the great information, your energy and support were priceless! It is so good to feel you are not alone in this journey.”
LAILA MARZALLTSM Microwave
"After almost two months of messing with Chase Bank, Susan got us the PPP loan filed and approved in about 8 hours. I hesitate to celebrate until money is in the bank, but it’s looking good and Susan was absolutely amazing. Of course, I’m wouldn't even be talking to Susan if you hadn't made the connection, so chalk up another small business success to SBDC. I see why you’re the best on the country. This loan was crucial to our success at a critical time in the world. All I can say is thank you."
Jeff S.Earthvisionz
“As a new resident in rural Colorado I was truly at a loss about the tech community out here until I attended the SBDC TechSource event in Salida. I was truly impressed by the quality of the content at the event (compared to similar events in Chicago), was able to make some great connections within the local community, and was able to sign up for additional services as well. SBDC assisted us with market research which helped expedite our focus in Colorado and helped connect us with funding sources to expand. Beyond that they were quick to respond, a pleasure to work with, and went above and beyond with their services. I would absolutely recommend SBDC TechSource to another tech company, especially for companies outside of the front range that are looking to connect and grow rapidly. “
CHRIS MCLAUGHLINVital Command
"I just wanted to send a quick note and let you know how helpful Brian Ormsby has been. He responded to my query about a week and answered a bunch of questions about the EIDL, and then we talked again to day about the PPP. I’ve asked several other resources about my PPP questions and he was the first person to answer them. I can’t stress enough how nice it is to be able to talk directly to someone who can answer questions about all of these programs. So thank you very much for making him available...!"
David PAccuer, Inc.
"I'm not sure if this email goes through, but I just wanted to say thank you so much for hosting this webinar. As a small business that is running because of the SBDC, I am so appreciative of what you do for business owners. I went to film school and I'm only successful in my business because of the years of support I've gotten from the SBDC to help me get a business mindset and navigate the crazy waters of running a company. In all of this uncertainty, it's felt like I couldn't find good, solid answers on our PPP loan, and this webinar was so helpful and the tool of the PPP Loan Forgiveness Estimator is so comforting to get some answers. Keep up the good work, and stay healthy out there. With much appreciation."
Shawna M.FX Media
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