By: Deborah Johnson Wood
An informal survey of small business owners in the Grand Rapids area revealed one important fact to Business Librarian Amy Cochran: the need for a resource center dedicated to helping business owners conduct market and industry research to help them keep their businesses alive and growing. The Grand Rapids Public Library main branch filled that need by establishing the Small Business Research Center.
“According to the Small Business Association, 80 percent of small businesses fail,” Cochran says. “In Greater Grand Rapids 83 percent of all businesses are small businesses. The difference between success and failure is the amount of research the business owners do ahead of time.”
Cochran procured a $20,000 grant to create the center, and the library contributed some $60,000 in equipment and materials already on hand. The center features two designated workstations with computers, fax machines, and a copy center.
“Our online content is amazing,” Cochran adds. “We subscribe to over 70 databases, seven of which are dedicated to small business research.”
The library added BusinessDecision, an in-demand database that combines census demographics, consumer spending habits, and market segmentation with GIS mapping technology.
“Business owners can pick a location, create a report on what people in the area are likely to spend their money on, and decide if a business will be supported there,” Cochran says.
Print resources include periodicals, Standard & Poor’s industry surveys, Small Business Encyclopedia, and, of course, books.
“You’re not only getting access to the resources and online content, but we also have librarians who are specialists in law, business and government resources.”
A grand opening reception is planned for Wednesday, April 30 from 5:30 to 7:30.
Source: Amy Cochran, Grand Rapids Public Library (courtesy photo)
Deborah Johnson Wood is the development news editor for Rapid Growth Media. She can be contacted at [email protected].
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