For Immediate Release
Date: May 3, 2021
Contact: Danielle Casey, dcasey@abq.org
Celebrate National Small Business Week with AED by exploring innovative new small business website service
Albuquerque Economic Development Inc. continues to support all regional business and as expanded its offerings through online data tools
[GREATER ALBUQUERQUE, NM, May 3, 2021] – National Small Business Week is celebrated in the United States the first week of May each year. AED is proud to join in support of small businesses by offering a new, free online service called SizeUpABQ.
The service is available for free to all local businesses at www.abq.org/sizeup. It delivers powerful market research and business intelligence so greater Albuquerque businesses can make data driven decisions using analysis that has historically only been available to big corporations.
Small businesses are essential to economic health:
- 99% of all businesses are small businesses.
- Small businesses create 425% more net new jobs than big businesses.
- Locally owned businesses contribute more to the economy through the “economic multiplier” of increased spending of dollars in the local economy.
- Half of the national gross domestic product comes from small business.
- New businesses are currently starting at the fastest rate in the last 15 years.
“Small businesses are the economic foundation and engine of our local economy. We are helping to level the business playing field by providing them with market research and business insights that have typically only been available to well-funded and large corporations,” said Danielle Casey, President & CEO of AED.
SizeUp is a web-based tool that incorporates large numbers of timely data sets that help businesses analyze the market and business costs. The information found at www.abq.org/SizeUp provides companies with:
- Information on how they compare to others in their industries
- Data to identify targeted customers, suppliers and competitors
- Information offering key insights as to the best places to advertise
Aspiring entrepreneurs can use the data to test, verify, or reject assumptions that will enable them to develop a better business plan for opening their company and to reduce the risk of failure by better preparing them with quality information.
The software powering SizeUpABQ won the 1st Place award from the United States Department of Commerce for a business app that helps American businesses be more competitive, improve their success, foster prosperity, and create more jobs. Access to this powerful resource for all Albuquerque region businesses is made possible by the Albuquerque Forward Fund.
“Small, local businesses have been hit hardest by the pandemic, with business owners of color and women-owned enterprises disproportionately impacted. These same businesses are the economic and cultural backbone of our community, and we’re proud to support them through the Minority Business Development Agency Business Center in New Mexico,” added Gabriela Marques, Center Director.
The tool can be found at www.abq.org/sizeup. Those unsure of where to begin do not have to go it alone. AED has already produced and recorded several training sessions that can be found on the site and will be hosting a third session during National Small Business Week on Thursday May 6 at 2 p.m. featuring special guest Gabriela Marques of the Minority Business Development Agency Business Center in Albuquerque. To register, visit www.abq.org/events.
About the Albuquerque Forward Fund
The Albuquerque Forward Fund is a 501c3 nonprofit which educates employers and connects them to the resources they need in order to innovate, expand and thrive; empowers the region by conducting and publishing research on the region’s workforce, employment data, industry trends and economic outlook; and expands the mission of Albuquerque Economic Development, Inc., to attract new employers to the area, help existing employers grow, generate jobs, and expand the economy. For more information visit www.abq.org/albuquerque-forward-fund.
About AED
AED is a private, nonprofit organization whose mission is to recruit business and industry, help local companies grow and generate quality job opportunities throughout the Albuquerque metro area. AED provides confidential assistance to businesses considering the area for expansion and new investment. Since its creation in 1960, AED has recruited more than 250 companies and more than 35,000 jobs to the Albuquerque metro area. AED also provides retention and expansion assistance to existing industry. For more information about AED, visit www.abq.org.
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