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Springfield Regional Chamber Puts Big Data in the Hands of Small Business

Graphs illustrating regional industry data points

SRC’s new economic development tools help business owners and developers understand the assets of the region and how their new business enterprise can succeed.

Heat map of finance and insurance companies in Springfield

The bilingual Business and Investment Assistant is designed to support the growing minority entrepreneur community.

The Springfield Regional Chamber’s new economic development tools are a free resource to help businesses and developers successfully locate in Western Mass

SPRINGFIELD, MA, USA, May 3, 2021 /EINPresswire.com/ -- The Springfield Regional Chamber (SRC), located in the western Massachusetts region, has recently launched an expansive set of economic tools to help businesses and developers recognize and understand key indicators to encourage informed business decisions. The tools are free and openly available to the public, allowing users to discover local intel on vital metrics for establishing and running successful businesses. The Economic Development Tools are easily accessed through the Economic Data Portal on the SRC’s website.

“The development tools include economic trends, customer population, local competition, skilled workforce locations, areas for development opportunities, and even available properties,” said Springfield Regional Chamber President Nancy F. Creed. “The Chamber’s goal is to act as a resource for local businesses in tandem with driving the economic vitality of our region. This includes attracting new investors and business owners, supporting existing organizations, and enhancing the region’s financial climate. Introducing these development tools satisfies both goals perfectly.”

The Economic Data Portal is a source for the latest economic data and statistics about the business climate in a region. The portal has two key sectors that support the efforts of both entrepreneurs and developers. The Business and Investment Assistant (BIA) provides resources to start a business and the Business Research Center features ways to grow an existing business and strategies to make an informed investment in a particular region. The SRC spent over a year developing the portal’s data search and visualization tools through their partnership with technology company, Localintel.

“The Business and Investment Assistant (BIA) is a place to discover useful business tips, advice on naming a business and registering its trademark, an avenue to analyze key economic indicators regarding local business, and ways to connect with key business and investment contacts. It’s truly a one-stop-shop for executives looking to take their start-up to the next level,” she said.

Much to the benefit of aspiring business owners, the BIA lists economic development officials in local, state, and federal agencies. This includes local organizations like Springfield’s Valley Venture Mentors, a 501(c)(3) nonprofit, dedicated to achieving transformational growth for startups in Western Massachusetts.

The Business Research Center provides comprehensive growth tactics for current businesses that will enable them to make smarter more informed business decisions. These tactics include financing, identifying available locations, locating workers, and exploring demographic data of potential customers. Creed said, “The various search functions tell developers which existing employers and industries here are investing, which are strong, and which are growing.”

In addition, users have access to comprehensive heat maps that extend miles beyond a location to truly showcase the region’s geographic distribution of incomes, customers, and businesses through U.S. Census Bureau data. The portal then populates commercial properties available for sale or lease.

“One of the greatest benefits of the portal is the wide-ranging audience. Entrepreneurs, leaders of established businesses, companies looking for new locations, or those looking to move or expand will all find value in the resources it provides,” said Creed. “We hope the tools will clearly demonstrate the benefits of our region and encourage decision-makers to invest here,” Creed added.

“Prospective businesses want to make sure that the city and the region are making a capital investment,” Creed said. “If we grow our region, and there are more businesses and people, our members will be more successful. The more the region grows, the more economic vitality there is for the existing community.”
The Economic Data Portal is available on the Springfield Regional Chamber’s website, free and available to the public.

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The Springfield Regional Chamber is a business association representing the region and its geographic hub of Springfield and more than 500 businesses of all sizes, industries, and professions, providing leadership in creating a healthy economic climate.

Nancy Creed
Springfield Regional Chamber
+1 413-755-1309
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