Published June 06, 2001
Sales projections, customer demographics, market data and more for your businesses is on the Internet’s Web. Research it yourself. But where? By now you know the techniques for finding things using any search engine, like Alta Vista, Google, Lycos, Yahoo, etc.
Investigating the potential of a new product or service? Look first to the U.S. Census Bureau’s County Business Patterns site. These are no-cost reports that are typically 1-3 years old. Insurance agents, security brokers and generalized industries of retail trade and finance are listed by county and state. Company names, total employees and annual payroll information is useful especially to recognize open opportunities or market saturation.
More current details are available at USA Data. Customize product sales revenues, projection reports and the number of users of products. Although very pricey, several hundred dollar (or more), this information is essential for businesses to plan appropriately; success may depend upon it.
Has your new idea or product already been produced, that perfect name already taken? Search the U.S. Patent and Trademark database for registered references to your keywords. You may investigate each reference for the trademark owner’s name, address, filing date, and description. If not already taken, you may claim a trademarked name at the U.S. Patent and Trademark Electronic Applications System online by completing the questionnaire and paying the $245 fee.
Uncertain if you found everything? Then hire a professional like MicroPatent to search the trademarks for a cost of $50. Sc[i]3 Patent and Trademark Depository Library looks deeper into state records and common-law usage for $185.
Considering a new employee or business partner? Conduct your own background investigation at 1800 US Search. After supplying the subject’s pertinent identification and paying $40, a lengthy report is e-mailed to you within an hour. It details the person’s previous residences, past property sales and neighbors’ contact information. For an additional $40, they will also deliver the criminal record (if any) of anyone within the U.S. jurisdiction.
The Online Screening Services site is very simplistic, but adequately verifies, for $10, basic employment history, salaries, possible reasons for termination or accomplishment rewards. Informus generates a previous employment report in 1-3 days for $13.
Who are your prospects? Information Decision Systems has free demographics organized by zip code. Learn the population by race, gender and income compared to the national statistics. A short paragraph describes a specific community’s automobile ownership, investment trends and disposable spending. U.S. Census Bureau will also furnish information on record since the last census.
American FactFinder reveals any communitys’ population, housing, income, and poverty status profiles. The percentages of homeowners to renters, languages spoken and education level are found here. The reports are either printed or supplied as a data file for analysis in a spreadsheet program.
What’s the going pay rate for your employees? WageWeb maintains current salary figures for 250 occupations including health care, manufacturing and information technologies. Also look to the U.S. Department of Labor’s Bureau of Labor Statistics. Their Occupational Outlook Handbook registers accountants and administrative assistants to welders and zookeepers. Remember this is a government resource; so if you cannot find listing for a Janitor, look instead under Sanitary Custodial Services.
The Small Business Handbook from the Department of Labor’s Regulatory Compliance Assistance has all the regulations that apply to you, and more. Digest these relevant matters as your business grows. Other regulatory issues are broadly canvassed by eLaws Advisor. Learn about minimum wage laws; how to properly hire and fire; and be forewarned of rules affecting the workplace.
Investigate a prospect’s credit worthiness at CreditFYI. For $5–15, they check any U.S. business through Experian, one of the big-three national credit bureaus. In addition to payment timelines and collections, CreditFYI uses predictive modeling techniques to assess a company’s risk factor (good, moderate, caution or warning). Processing time is about a minute, after you pay by credit card through a secure online form.
While you’re at it, verify your own credit information for $15. However, if someone has stolen your identity and run-up debt in your name; or your bank has refused credit or a loan because of your credit report, you have the right by law to a free consumer credit report. See the Federal Trade Commission’s Web site for details.
The tax consequence for doing business in Massachusetts is considerably different from Montana. Many links point to states’ business tax information; but a consolidated resource is the States site. The States site links to all state tax agencies and to legislative influences upon income, sales, fuel and excise taxes.
After all these fees, you still need office equipment. Adequate used office furniture, a company truck or even commercial real estate can be obtained at online auctions like TradeOut, ZoneTrader and ComAuction; or from the General Services Administration (GSA), the federal government’s purchasing authority. The GSA sells it’s excess property to the general public through sealed bids, live and silent auctions, and fixed-price sales at their eleven regional offices.
Here’s a novel concept: use this information to research your own Research Service for those who don’t know about these Web-based sources.