Research is a critical factor in starting and running a business. It is vital that research be accurate and thorough to ensure a healthy bottom line and minimize errors. Decisions such as determining product pricing, choosing a target market, and deciding plant location specifics can effectively be managed through investigating several sources.
Local Research Assistance
The SBDCnet National Clearing House has a large archive of industry reports, sample business plans, tips for success in an industry, and other business resources. Business research requests may be submitted through WWU SBDC.
The Whatcom County Library System has access to several databases of research articles available online:
The WSU Innovation Assessment Center provides complete market feasibility reports for entrepreneurs looking to launch a product in the marketplace. The report includes:
- Analysis of competitors
- Outlines of current trends in the marketplace
- Identification of the target market
- Formulation of the probability of success in the marketplace
- A positive outlook can result in preparation of a marketing plan, as well as suggestions for potential supply chain locations.