Why Does my Business Need Market Research?
The Mississippi Small Business Development Center offers in-depth, comprehensive market research that is applicable and useful to our clients. Whether a client is looking to start a business, shift their business model, or study a new emerging market, the MSBDC can assist with gathering local market data, industry trends, and financial ratios. Our Market Research Specialist provides three specific reports and interprets findings, based on client need.
Preventure Market Analysis
This report contains local market data, industry statistics, and financial ratios and information as the client looks to better understand their proposed business plan. This information can be particularly useful if a client is preparing for an initial funding proposal.
In-Business Financial Proposal
This report contains local market data, along with the existing business’s financials compared to key industry benchmarks. This report is typically performed to evaluate a business’s current financial standing when additional funding and/or refinancing is needed.
In-Business Performance Review
This report is a comprehensive review of the current business. Items reviewed include: 1) company’s financials, 2) company’s marketing plan, 3) current local market and national industry trends. This Performance Review is generally performed for clients looking to improve their business or identify any potential leading indicators that may affect the business in the short or long term.