Starting Your Small Business

Demographic & Economic Data

As you develop your business idea you will need to investigate the fields that interest you and make note of trends. You should strive to offer a unique product or service with potential for a long life span. This means knowing where the future lies in your industry in such areas as potential competitors, new technology, cultural change and economic and demographic trends.

Do not neglect to identify and keep watch on the competition even before you start your own business. You can learn from their successes and mistakes. And if you are to stay the proverbial "one step ahead," you must first know what they are doing, and then do it better.

To assist you in your research:

• Empire State Development's New York State Data Center provides information on economic trends, conditions and statistics. It is New York's primary repository of economic and demographic data.
  
  
• Use the New York State Library's research library or find your local Public Library.
  
  
• The U.S. Small Business Administration America's small business resource offers research project studies on economic, census and financial statistics.
  
  
• The New York State Small Business Development Centers (SBDC) are administered by the U. S. Small Business Administration to provide management assistance to current and prospective small business owners. The Research Network, a team of professional librarians who search the Web to find information on any small business topic, serves SBDCs.
  
  
• Federal Statistics is the gateway to statistics from over 100 U. S. Federal Agencies
  
  
• U.S. Census Bureau has timely, relevant data about the people and economy of the United States
  
  
• The New York State Department of Taxation and Finance Policy and Statistical Reports provide tax data on sales and purchases by county.
  
  
• The New York State Department of Labor provides state-wide data on the labor market, present and future economic trends, economic conditions, wages and health-related statistics.