Market Research for Small Businesses
At every stage of the business process, market research is one of an entrepreneur’s best friends. It can be leveraged to discover the common characteristics and preferences of your customers, who your competition is, and what current and future trends can affect your business. It helps to take the guesswork out of business, enabling entrepreneurs to make informed and profitable business decisions.
By thoroughly diving into your customers, industry and competition at start-up, you can make an educated assumption as to the viability of your business idea, incorporate into your business plan and find growth opportunities for the future. Later on in the life of a business, market research allows you to refine your target market, identify potential new audiences, and even new revenue streams. Find the market research resources your business needs to succeed.
Discover your target audience, complete your competitor analysis, and monitor the trends impacting your industry. Follow our easy to use checklist to use market research effectively for your business.https://smallbusinessbc.ca/resource/howtos-checklists/market-research-checklist/
Successful business planning depends on solid market research. Whether you’re drowning in a sea of market data or simply don’t know where to begin, a one-on-one consultation with a Small Business BC market research analyst will help you focus your market research efforts.https://smallbusinessbc.ca/service/advisory/market-research-coaching/
Make informed business decisions with a customized research report from Small Business BC’s Market Research Analyst.https://smallbusinessbc.ca/service/advisory/customized-research-reports/
Market Research mistakes to avoid
The key to successful market research is planning and strategy. Unfortunately, when conducting market research due to the bias, often rationale can fly out the window and mistakes can be made.
How to Identify Your Target Market
Learning how to identify your target market is one of the foundations of marketing. Here are some tips to help you get started.
Midnight Drive Apps
Midnight Drive Apps create custom-made apps for small businesses around British Columbia. Learn how SBBC's Market Research services helped them achieve success.
Market Research Webinars
Market Research Articles
Other ways Small Business BC can help you:
At Small Business BC we offer affordable services to help you start and grow your small business.
- Looking to register your business? Let our team help you with our business registration services
- View our offering of online webinars and education to upskill your business
- Visit our B.C. Business COVID Support Service to get help answering your COVID-19 Questions
- List your business and support other local businesses in the BC Marketplace