SBA launches online tool for small businesses

The U.S. Small Business Administration has launched a free online tool to help small businesses and startups compete in the marketplace and grow.

The tool, dubbed SizeUp, can help businesses identify new customers and compare performance to other businesses in the same industry, drawing on a database of information collected from hundreds of private and public sources, according to a news release.

“Market research and analysis is critical for the success of any small-business owner or entrepreneur,” SBA Administrator Karen Mills said in the release. “In today’s challenging economic environment, where small businesses create nearly all net new jobs in the U.S., help for small businesses is more important than ever before.”

SizeUp provides data analysis by:

• benchmarking an existing businesses to compare its performance to competitors;
• locating potential customers and suppliers; and
• noting choice locations to advertise, based on preset reports to find areas with high industry revenue, as well as underserved markets.

The tool has been licensed to the SBA for one year by its creator, San Francisco-based GIS Planning Inc., according to the release.