Using the Economic Census to Support Entrepreneurs and Small Business Owners

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Using the Economic Census to Support Entrepreneurs and Small Business Owners. NCLA 59 th Biennial Conference October 6, 2011 Mary G. Scanlon. Making Cities Stronger. Strategies. Mary G. Scanlon. Urban Institutes Findings. Mary G. Scanlon. How to provide?. Shrinking budgets - PowerPoint PPT Presentation

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<p>Using the Economic Census to Support Small Business Owners</p> <p>Using the Economic Census to Support Entrepreneurs and Small Business OwnersNCLA 59th Biennial ConferenceOctober 6, 2011Mary G. Scanlon</p> <p>Public Library Contributions to Local Economic DevelopmentJanuary 01, 2007</p> <p>Carlos A. Manjarrez, Jessica Cigna, Beata Bajaj</p> <p>Making Cities Stronger</p> <p>Strategies</p> <p>Mary G. ScanlonUrban Institutes Findings</p> <p>Mary G. Scanlon4How to provide?Shrinking budgets Free, reliable sources?Mary G. ScanlonTo the RescueThe Economic Census!Mary G. ScanlonOutlineDefinition &amp; descriptionBenefits and limitationsHow to find dataWhere is it?How is it organizedWhats included?Other data available through the CensusCase study (apply what weve learned)Other free sourcesQ&amp;A</p> <p>Mary G. ScanlonCharacteristicsSource: Bureau of the CensusTiming: Every 5 years, in years ending in 2 and 7Scope: Strives to be comprehensiveRequiredSelf-reported</p> <p>Mary G. ScanlonBenefits &amp; LimitationsBenefits:FreeReliableComparableData available at varying levels of granularityFrom national to zip codeCurrent kinda, sorta</p> <p>Mary G. ScanlonBenefits &amp; LimitationsLimitations:Data dribbles outDomestic businessesCompanies with employeesPrivacy protectionMary G. ScanlonData Release Schedule</p> <p>Where to Find the DataU. S. Census Bureau www.census.govEconomic Censushttp://www.census.gov/econ/census07/</p> <p>OR Through American Factfinder athttp://factfinder2.census.gov/faces/nav/jsf/pages/index.xhtmlMary G. ScanlonHow is the Data OrganizedNorth American Industrial Classification SystemNAICSIntroduced in 1997Replaced SIC codes (Standard Industrial Classification)</p> <p>Mary G. ScanlonNAICSNorth American Industrial Classification SystemClassification system for industry groupsNumericalHierarchical: the longer the number, the moredetailed the categoryMary G. ScanlonNAICS3118 Bakeries and Tortilla Manufacturing 31181 Bread and Bakery Product Manufacturing 311811 Retail Bakeries 311812 Commercial Bakeries 311813 Frozen Cakes, Pies, and Other Pastries Mfg 31182 Cookie, Cracker, and Pasta Manufacturing 311821 Cookie and Cracker Manufacturing Mary G. Scanlon15NAICS Sectors(Sample)2331 - 334244 - 4548 4951527172</p> <p>ConstructionManufacturingWholesale tradeRetail tradeTransportation &amp; warehousingInformationFinance and InsuranceArts, Entertainment and RecreationAccommodation and Food Service</p> <p>Mary G. ScanlonTermsCompanies vs. EstablishmentsValue of Shipments, Receipts, Contracts</p> <p>Mary G. ScanlonCase Study</p> <p>Mary G. ScanlonBusiness PlanDocuments the strategy and tactics for the businessRequired by investors and bankersForecasts growth and profitability (among other finances)Industry data provides support for company forecasts</p> <p>Mary G. ScanlonFrom Data to InformationIndustry size and growth rateNumber of employeesPayroll &amp; benefitsOperating expenses: utilities, telephone, othersCapital investment</p> <p>Mary G. ScanlonStep 1Find the NAICS code</p> <p>Mary G. Scanlon</p> <p>Mary G. ScanlonStep 1Step 1Find the NAICS code311811 Retail BakeriesMary G. ScanlonStep 2Find the dataMary G. ScanlonFind the Data</p> <p>Mary G. ScanlonFind the Data</p> <p>Mary G. ScanlonFind the Data</p> <p>Mary G. ScanlonFind Data</p> <p>Mary G. ScanlonPartial Data DownloadSector 31: Manufacturing: Industry Series: Detailed Statistics by Industry for the United States: 2007Data based on the 2007 Economic Census. For information on confidentiality protection, sampling error, nonsampling error, and definitions, see Survey Methodology [pdf]. Data in this file represent those available when this file was created; data may not be available for all NAICS industries or geographies. Data in this table may be subject to employment- and/or sales-size minimums that vary by industry.</p> <p>2007 NAICS codeMeaning of 2007 NAICS codeCompaniesNumber of establishmentsEstablishments with 1 to 19 employeesEstablishments with 20 to 99 employeesEstablishments with 100 employees or moreNumber of employeesAnnual payroll ($1,000)Total fringe benefits ($1,000)Employer's cost for health insurance ($1,000)Employer's cost for defined benefit pension plans ($1,000)311811Retail bakeries(r)6,056(r)6,249(r)5,503718(r)28(r)56,801967,728270,01880,84821,710Employer's cost for defined contribution plans ($1,000)Employer's cost for other fringe benefits ($1,000)Production workers avg per yearProduction workers - 1st qtrProduction workers - 2nd qtrProduction workers - 3rd qtrProduction workers - 4th qtrProduction workers hours (1,000)Production workers, nonleased employees wages ($1,000)Total cost of materials ($1,000)Materials, parts, containers, packaging, etc. used ($1,000)Cost of resales ($1,000)8,428159,032(r)31,857(r)32,066(r)31,593(r)31,765(r)32,00446,212585,2891,054,069804,300167,398Cost of purchased fuels ($1,000)Purchased electricity ($1,000)Contract work ($1,000)Quantity of electricity purchased (1,000 kWh)Quantity of generated electricity (1,000 kWh)Quant of electricity sold or transferred (1,000 kWh)Total value of shipments ($1,000)Primary products value of shipments ($1,000)Secondary products value of shipments ($1,000)Total misc receipts ($1,000)Value of resales ($1,000)Contract receipts ($1,000)16,44841,98323,940678,533003,378,0342,992,04533,768352,221348,762819Other miscellaneous receipts ($1,000)Primary products specialization ratio (%)Value of primary products shipments made in all industries ($1,000)Value of primary products shipments made in other industries ($1,000)Coverage ratio (%)Value added ($1,000)Total BOY inventories ($1,000)Finished goods inventories, BOY ($1,000)Work-in-process inventories, BOY ($1,000)Materials and supplies inventories, BOY ($1,000)Total EOY inventories ($1,000)Finished goods inventories, EOY ($1,000)2,640993,014,93622,891992,329,386130,50241,5738,74280,187140,85845,033Mary G. ScanlonFrom Data to InformationWhats here:Industry sizeIndustry growth rateNumber of employeesPayroll &amp; benefitsOperating expenses: materials, fuel, electricityCapital investment</p> <p>Mary G. ScanlonFrom Data to InformationIndustry size and growth rate</p> <p>Number of establishmentsTotal value of shipments ($1,000)20027,4582,803,8692007 6,249 3,378,034% Chg-17%20%Mary G. ScanlonFrom Data to InformationNumber of employees</p> <p>Number of establishmentsEstablishments with 1 to 19 employeesEstablishments with 20 to 99 employeesEstablishments with 100 employees or more6,2495,5037182888%11%0.4%Mary G. ScanlonFrom Data to InformationPayroll &amp; benefits</p> <p>Mary G. ScanlonNumber of employeesAnnual payroll ($1,000)Total fringe benefits ($1,000)Employer's cost for health insurance ($1,000)Employer's cost for defined benefit pension plans ($1,000)Employer's cost for defined contribution plans ($1,000)Employer's cost for other fringe benefits ($1,000)56,801967,728270,01880,84821,7108,428159,032From Data to InformationOperating expenses: materials, fuel, electricityMary G. ScanlonMaterials, parts, containers, packaging, etc. used ($1,000)Cost of purchased fuels ($1,000)Purchased electricity ($1,000)Quantity of electricity purchased (1,000 kWh)804,30016,44841,983678,533From Data to InformationCapital investment</p> <p>Mary G. ScanlonTotal capital expenditures (new and used) ($1,000)Capital exp: buildings &amp; other structures (new and used) ($1,000)Capital exp: machinery and equipment (new and used) ($1,000)Capital expenditures: autos, trucks, etc. for highway use ($1,000)Capital expenditures: computer and data processing equipment ($1,000)95,59614,95380,6435,0813,525Summary of InformationIndustry sizeIndustry growth rateNumber of employeesPayroll &amp; benefitsOperating expensesCapital investment</p> <p>Mary G. ScanlonWhat Else?Financial dataEconomic CensusMarket information County Business PatternsConsumer Expenditure TablesMary G. ScanlonAmerican FactFinderNew interface at the Bureau of the CensusAmerican FactFinder 2Economic CensusCounty Business PatternsPopulationHousingMany, many other data sourcesMary G. ScanlonAmerican FactFinder 2</p> <p>Mary G. ScanlonAmerican FactFinder 2</p> <p>Mary G. ScanlonAmerican FactFinder 2</p> <p>Mary G. ScanlonAmerican FactFinder 2</p> <p>Mary G. ScanlonLocal CompetitionRetail bakeries in Winston Salem6 Employer establishments at 31181112 Non-employer establishments at 3118 Mary G. ScanlonConsumer ExpendituresBureau of Labor Statisticswww.bls.govhttp://www.bls.gov/cex/csxstnd.htmData is available from 1984 2010In Excel from 2005, onlyExpenditures segmented along a wide array of demographic parameters</p> <p>Mary G. Scanlon2010 Expenditure TablesAge of reference person (TXT) (PDF) (XLS)Composition of consumer unit (TXT) (PDF) (XLS)Education of reference person (TXT) (PDF) (XLS)Higher income before taxes (TXT) (PDF) (XLS)Hispanic or Latino origin of reference person (TXT) (PDF) (XLS)Housing tenure and type of area (TXT) (PDF) (XLS)Income before taxes (TXT) (PDF) (XLS)Number of earners in consumer unit (TXT) (PDF) (XLS)Occupation of reference person (TXT) (PDF) (XLS)Population size of area of residence (TXT) (PDF) (XLS)Quintiles of income before taxes (TXT) (PDF) (XLS)Race of reference person (TXT) (PDF) (XLS)Region of residence (TXT) (PDF) (XLS)Size of consumer unit (TXT) (PDF) (XLS)Selected age of reference person ( TXT) (PDF) (XLS)Mary G. ScanlonConsumer ExpendituresItem Husband and wife consumer unitsOne parent, at least one child under 18Single person and other consumer unitsTotalHusband and wife onlyHusband and wife with childrenOther husband and wife consumer unitsTotalOldest child under 6Oldest child 6 to 17Oldest child 18 or olderNumber of consumer units (in thousands)59,73925,72328,1725,18514,2428,7455,8447,14154,227Income before taxes $85,296$76,543$93,627$87,439$94,807$95,374$83,666$34,652$41,012Income after taxes $82,670$73,835$91,024$85,151$92,147$92,678$81,288$35,214$39,880Age of reference person50.058.042.832.240.952.049.437.550.4 Food$7,816$6,494$8,876$7,056$9,386$9,054$8,759$5,227$4,352 Food at home$4,670$3,813$5,314$4,311$5,476$5,587$5,514$3,287$2,493 Bakery products$434$352$501$356$533$527$491$303$232 Food away from home$3,147$2,681$3,562$2,745$3,910$3,467$3,245$1,939$1,859Mary G. ScanlonConsumer ExpendituresOn average, families with children ages 6 and older spend $530 annually on bakery products that are consumed at home.</p> <p>Mary G. ScanlonConclusionGovernment agencies continue to provide free sources of reliable data that supports entrepreneurs and small business owners.Mary G. ScanlonConclusionContact me:Mary G. Scanlonscanlomg@wfu.edu336.758.4303</p> <p>Mary G. ScanlonProfessional ResourceBusiness Librarians in North Carolina (BLINC)Next meeting:Thursday Feb 9thMay Memorial Library / Alamance Public Library</p> <p>Mary G. ScanlonBLINC at NCLAWednesday </p> <p>1:30 2:45 pmLessons Learned: Getting the Most Out of LibGuides</p> <p>Mary G. ScanlonBLINC at NCLAThursday </p> <p>9:00 10:00 am "Do we really need to pay for this anymore?" The best free v. fee sources for statistics and country research</p> <p>11:00 -12:00 pm Embedded Librarians in North Carolina: A Panel Discussion</p> <p>Mary G. ScanlonBLINC at NCLAThursday 4:15-5:30 pm </p> <p>Taking the Next Step: Using Spreadsheets to Process Library Statistics &amp; Database Results</p> <p>A Mission to Serve: What Libraries are Doing to Support Local Economic Development</p> <p>The Smart Investing Case Study: From Grant Proposal Through Implementation</p> <p>Mary G. ScanlonBLINC at NCLAFriday 8:30 9:30 am</p> <p>Philanthropy and Grant-seeking: Helping Your Community and Your Library in Today's EconomyMary G. ScanlonQuestions?Are you using these resources?Which other sources are you using?</p> <p>Mary G. Scanlon</p>

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