We talk a lot about different kinds of technology that can help your small business, and we might have a very useful one for you. Kabbage is a small business lending platform, and it has released a free tool called the Small Business Index. So often, we, as small business owners, struggle to find data how our performance compares to our peers. This free tool provides live data on more than 200,000 companies so we can see how our business is performing vs. our industry peers in our state and across the country. It might help you when it comes to long-term success for your business.
Unsure of how to take your business from good to great? ProStrategix knows how to help. Read some of our other articles below, or feel free to connect with us and get a complimentary thirty-minute consulting session.
Why We Love It
Why We Think You'd Love It
Growth without context is just a number. For example, let’s say your business grew 15% in the past year. That’s good, right? Well, maybe. If you grew at 15%, but the average for your industry in your state was 20%, then no, it’s not. You’re actually lagging, so there are probably things you should be doing that your are not. Conversely, if the average was 10%, then you are doing somethings really well. You might want to consider what’s making you standout, so you can do more of it. You can take the tips from Kabbage and learn how to save yourself.
Some Facts You May Not Know
In 2019, the average small business grew by 19.37% based on the small businesses analyzed within the Kabbage Small Business Revenue Index. That’s pretty amazing when you think about the average GDP growth has been less than 3%. This illustrates the impact that small business has on fueling the growth of the economy. Research shows that we are the driving forces of job creation. We employ nearly ½ the US workforce.
To Summarize, Try Kabbage
We love the Small Business Index because it a powerful tool for both ourselves and our clients to understand how we are performing vs. our peers. This is incredible valuable information that can help us to create more effective strategies and to focus on the right areas for growth.