Census
Funding
One of the primary reasons local economic development rarely has
access to world-class information is because it is enormously
complex and expensive to acquire and sustain.
A
unique aspect of the Business Census Initiative is that is it
free to participating business advocacy groups.
The
explanation of how this is possible may best be described with
an analogy:
The
cleanup of a major HAZMAT site is also complex and expensive.
If someone had invented a cleanup methodology that produces copious
amounts of pollution-free energy in the process, then it would
be possible to sell the energy produced to pay for the cleanup.
This is in essence what the IEDC/NCBER alliance has created with
the Business Census.
Like
a well-executed stratified random sample survey, the Business
Census generates highly accurate strategic market information.
But in addition, the Census also generates a massive stream of
tactical detail data on specific companies as a byproduct - particularly
in the hard-to-reach Small-to-Medium Enterprise (SME) segment.
This
stream of detail data is highly valuable "energy" to
stakeholders in the local economy such as banks, insurance, trust,
telecommunications and media companies.
It
provides them with an unheard of competitive advantage in local
markets - and a direct, revenue-increasing, bottom-line ROI on
their investment.
Best
of all, by making the SME segment easier to reach, competition
in this critical market is increased thus enhancing service and
price-performance levels to them.
This
is good for the SME market, the co-sponsors and the local community
- especially considering that the foundation for future growth
and prosperity is squarely and solidly rooted in the SME segment.
Learn
About the Benefits to Co-Sponsor Investors
