1. Why did the Colorado Springs Chamber & EDC decide to provide this tool for free for all business owners and entrepreneurs?
The mission of the EDC team is to support and strengthen the region’s economy. This tool gives valuable information and power to small businesses and entrepreneurs. The Chamber & EDC considers providing this information as a critical piece of its mission as the tool can empower local businesses strengthening the region’s economy.
2. What happens to the information I input?
Neither the Chamber & EDC nor SizeUp keeps a record of the information you enter. The information is completely confidential and only for your use.
3. What is the geographic level of SizeUp?
You can pick any city within the Colorado Springs MSA when entering in formation in the My Business section. The data provided will be for the city, county, metro, state, and nation. The maps that accompany the data can be zoomed out to show higher level information. The smallest level of data that SizeUp can provide is zip code.
When looking at Advertising and Competition tools, you can businesses in the Pueblo and Denver areas as well. The tool contains information for areas within 120 miles of Colorado Springs.
4. Where does the data come from?
Per SizeUp’s FAQ:
In the United States, business data comes from hundreds of data sources including IRS records, county courthouse filings, Yellow Pages and White Pages, business publications, the U.S. Postal Service, and corporate annual reports, which are manually reviewed and maintained. The data is verified through over 25 million phone calls each year by third-party researchers and is constantly updated, which means the competitiveness ranking of businesses is recalculated with every update. This business data is similar to and includes the type of data used by the majority of the Fortune 100 companies, the most used search engines, and even GPS-based auto navigation systems.
Demographic, labor force, consumer, education, innovation, occupation, transportation, environmental, incentive, and entrepreneurship data comes from a wide range of public and private data sources including, but not limited to, the US Census, United States Postal Service, Bureau of Labor Statistics, Census Bureau estimates, Bureau of Economic Analysis, Medicare statistics, Internal Revenue Service, U.S. Patent and Trademark Office, Federal Aviation Office, US Environmental Protection Agency, US Department of Housing and Urban Development, and commercial data providers. Data is updated on a varying schedule depending on the dataset. Demographic data includes current year projections using proprietary data for most data points.
Because much of the data provided by public sources is not updated frequently enough to make real-time business decisions (such as the US Census), data is projected to the present-year using proprietary methods. The methodology follows rigorous quantitative analysis standards which follow best practices in statistics, economics, demography, geography, corporate site selection, and economic development. In addition, SizeUp uses our proprietary methodology for analyzing information from all of the datasets.
For more information please visit: https://company.sizeup.com/products/faqs/
5. Can businesses have more than one industry?
Yes. Businesses can have up to six industry tags. This is to capture businesses and establishments that engage in multiple activities at one location. At a single Costco for example they have multiple activities such as grocery store, furniture store, pharmacy, eye doctor, and fast food restaurant.