When was the last time you compared your business to others in your area or industry? If the answer is “never” or “not in a while,” you’re missing out on some valuable insights that could help you grow smarter and faster.
Benchmarking isn’t just for big companies with deep pockets. Thanks to many local economic development organizations across the country, small business owners like you now have access to one of the most powerful (and free) market intelligence tools available: SizeUp.
What Is SizeUp?
SizeUp is a robust business analytics tool that helps entrepreneurs evaluate how their business compares to others in the same industry and geographic area. While it was once available through the Small Business Administration (SBA), it’s now licensed by local economic development organizations that make it accessible to businesses within their communities—often directly on their websites.
That means your city, county, or local chamber of commerce may already provide access to SizeUp at no cost to you. Just search your local economic development website or contact their office to find out if it’s available.
Check out SizeUp COS for the Colorado Springs, CO metro area.
What You Can Learn With SizeUp
By entering basic business information like your industry, location, and estimated revenue, you can instantly access a treasure trove of competitive intelligence. The tool provides side-by-side comparisons based on:
Annual revenue
Years in business
Employee wages
Revenue per employee
Productivity and cost efficiency
But it goes way beyond the numbers. SizeUp also offers:
Interactive maps showing competitors, customers, and suppliers
Demographic and customer spending data for your region
Recommendations on where to advertise for maximum impact
This kind of data is incredibly valuable for small businesses making strategic decisions—whether you’re launching a new product, expanding your service area, or simply trying to work more efficiently.
Why Benchmarking Matters
Many business owners operate in a vacuum. They might know their own numbers, but they lack context. Are you paying your employees competitively? Are you over- or underperforming compared to peers? Could you find more affordable suppliers or target more profitable customer segments?
Benchmarking with SizeUp helps answer those questions and more. It shines a light on blind spots and highlights opportunities you might have otherwise missed.
Real Local Value
Unlike generic tools that use nationwide averages, SizeUp uses localized data, making the insights more relevant to your specific market. That’s why economic development groups have embraced the tool—they want to help local businesses compete and thrive.
So, if you haven’t done any benchmarking lately, it’s time to give SizeUp a spin. The tool is easy to use, doesn’t require special training, and offers results in minutes. Best of all, it’s free—thanks to the support of your local economic development agency.
Related Video from the Colorado Springs Chamber and Economic Development Center on how to use the SizeUp tool.
Don’t Operate in the Dark
The business world is more competitive than ever. The good news? You don’t have to make decisions based on guesswork. With SizeUp, you can benchmark your business against the competition, discover where you shine, and identify where you can improve.
When was the last time you took a step back to see how your business really compares?
