APS has rolled out a free digital tool that help small and medium businesses fine-tune their business models and be more competitive by connecting them with market research and business intelligence for their sector.
The SizeUp Arizona platform allows businesses to input their specific information, such as annual revenues, number of employees, average salaries and more, and then instantly compare themselves to similar businesses locally, statewide and nationally.
“Access to this information allows smaller companies the competitive intelligence necessary to establish and grow their businesses,” said Kelly Patton, APS Senior Economic Development Consultant for Statewide Programs.
SizeUp pulls its information from hundreds of data points including IRS records, county courthouse filings, business publications, corporate annual reports, census statistics, building permits, the U.S. Department of Labor and organizations that track health and liability insurance costs.
With that database, SizeUp can show a business how cost effective it is compared to similar businesses in its sector. Business owners and managers can judge if their employee pay, health insurance costs and workers comp liability is in keeping with competitors. The site will also suggest where businesses should advertise and identify potential customers and vendors.
Patton said that the tool is part of how APS is trying to provide small and medium-sized businesses the data and analysis that many larger corporations obtain by hiring business consultants.
SizeUp is just one of several tools APS offers in the realm of economic development. The company also hosts the Arizona Prospector site for companies thinking about relocating to Arizona or selecting a new site for operations in the state. It also is a clearinghouse of information for entrepreneurs thinking of creating a startup in Arizona.
APS also is very active in supporting economic development organizations throughout the state, including ECoNA, where David Bentler, manager of the utility’s statewide economic development programs, sits on our board.
We urge you to try out the new SizeUp Arizona tool and see what interesting insights it might give to your business.