Gale Business: DemographicsNow - Assessing Market Risk
This tutorial will show you how to use business data in Gale Business: DemographicsNow to calculate business closure percentages within your industry as part of a larger risk assessment.
When you are thinking about opening or expanding a business,
it's important to research your market
and assess the potential for success or
DemographicsNow can help you calculate business closure
percentages within your industry
part of a larger risk assessment
Start in the People & Companies tab's
Business List and enter the geography
you'd like to assess by selecting options
from the geography list or by
typing in a location.
the Business Type options allow you to
find the number of businesses currently operating
within your industry. You can
browse classification codes to make your selection
or use keywords
to search for the appropriate industry.
Once you've made your selection,
click search to identify the number of businesses currently
Once you've identified the number of open businesses
use the special select menu
to include out of business companies
and calculate the percentage of successful
companies as well as business closures.
use this information as part of a broader
assessment to help you determine the level
of risk of your business idea or expansion opportunity.