DemographicsNow: Business & People - Assessing Market Risk

This tutorial will show you how to use business data in DemographicsNow to calculate business closure percentages within your industry as part of a larger risk assessment.


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When you are thinking about opening or expanding a business,

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it's important to research your market

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and assess the potential for success or

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failure.

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DemographicsNow can help you calculate business closure

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percentages within your industry

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part of a larger risk assessment

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Start in the People & Companies tab's

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Business List and enter the geography

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you'd like to assess by selecting options

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from the geography list or by

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typing in a location.

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the Business Type options allow you to

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find the number of businesses currently operating

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within your industry. You can

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browse classification codes to make your selection

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or use keywords

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to search for the appropriate industry.

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Once you've made your selection,

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click search to identify the number of businesses currently

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in operation.

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Once you've identified the number of open businesses

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use the special select menu

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to include out of business companies

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and calculate the percentage of successful

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companies as well as business closures.

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use this information as part of a broader

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assessment to help you determine the level

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of risk of your business idea or expansion opportunity.