economic data from the u.s. census bureau a business plan case study and access november 13, 2014...
TRANSCRIPT
Economic Data from the U.S. Census Bureau
A Business Plan Case Study and Access
November 13, 2014
Presented by:Andy Hait
U.S. Census Bureau
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Outline Using Census Bureau
Economic Programs Data To Better Understand
The target market of a proposed business
The local competition
The national industry
Sample Scenario:
An entrepreneur is interested in opening a job training facility in the Albuquerque metro
area.
She wants to know what information is available from the Census Bureau that may
help her locate the business and better understand this industry.
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Measuring the Need…
The demographic data available from the ACS helps make
the case for this type of business…
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EMPLOYMENT STATUS
Bernalillo County, New
Mexico
Cibola County, New
Mexico
Rio Arriba County, New
Mexico
Sandoval County, New
Mexico
San Miguel County, New
Mexico
Santa Fe County, New
Mexico
Valencia County, New
Mexico
Population 16 years and over 532,093 21,241 31,626 104,619 23,638 120,193 59,294In labor force 339,927 11,252 18,282 63,298 10,851 77,359 32,335Percent In labor force 63.9 53 57.8 60.5 45.9 64.4 54.5
Civilian labor force 337,727 11,252 18,276 62,969 10,851 77,230 32,215Percent 63.5 53 57.8 60.2 45.9 64.3 54.3
Employed 307,269 9,475 15,814 56,745 10,150 69,555 28,115Percent 57.7 44.6 50 54.2 42.9 57.9 47.4Unemployed 30,458 1,777 2,462 6,224 701 7,675 4,100Percent 5.7 8.4 7.8 5.9 3.0 6.4 6.9
Not in labor force 192,166 9,989 13,344 41,321 12,787 42,834 26,959Percent 36.1 47 42.2 39.5 54.1 35.6 45.5Civilian labor force 337,727 11,252 18,276 62,969 10,851 77,230 32,215
Percent Unemployed 9.0 15.8 13.5 9.9 6.5 9.9 12.7
Getting Started
• What NAICS code covers this industry?
• What Census programs provide data for this industry?
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What Programs Cover this Industry?
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How Can I Get to the Data?
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Tell Me About This Industry in the Albuquerque Metro Area…
The County Business Patterns (CBP) program provides data that she can use to better understand this industry, her competition, and
her potential market.
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Employer vocational rehabilitation services businesses in Albuquerque CSA Counties: 2012
Geographic area name Number of establishments
Paid employees for pay period including March
12 (number)
First-quarter payroll
($1,000)
Annual payroll
($1,000)
Bernalillo County, New Mexico 8 100 - 249 D D
Los Alamos County, New Mexico 1 0 - 19 D D
Sandoval County, New Mexico 1 100 - 249 D D
Santa Fe County, New Mexico 2 20 - 99 D D
Torrance County, New Mexico 1 0 - 19 D D
Cibola County, New Mexico 0 0 0 0
Rio Arriba County, New Mexico 0 0 0 0
San Miguel County, New Mexico 0 0 0 0
Valencia County, New Mexico 0 0 0 0
How Is this Industry Performing Nationally?
The 2012 Economic Census (EC) currently provides National-level data that she can use to measure
changes in this industry and to better understand the composition
of businesses in it.
(Local area data are coming soon…)
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U.S. Vocational Rehabilitation Services (NAICS 62431) by Tax Status: 2012 and 2007
Meaning of tax status code YearNumber of establishm
entsChg 2007 -
2012Revenue ($1,000)
Chg 2007 - 2012
Annual payroll
($1,000)
Chg 2007 - 2012
Number of paid
employees for pay period
including March 12
Chg 2007 - 2012
All establishments2012 7,834
2.7%12,483,982
8.2%5,684,690
10.1%311,798
2.7%2007 7,631 11,535,590 5,164,772 303,713
Establishments subject to federal income tax
2012 2,04114.9%
2,148,87326.4%
969,89327.9%
34,16014.7%
2007 1,777 1,699,564 758,511 29,778
Establishments exempt from federal income tax
2012 5,793-1.0%
10,335,1095.1%
4,714,7977.0%
277,6381.4%
2007 5,854 9,836,026 4,406,261 273,935
Meaning of tax status code YearRevenue per
establishment ($1,000)
Revenue per employee ($1)
Revenue per $ of payroll ($)
Annual payroll per
employee ($)
All establishments2012 1,594 40,039 2.20 18,2322007 1,512 37,982 2.23 17,005
Establishments subject to federal income tax2012 1,053 62,906 2.22 28,3932007 956 57,074 2.24 25,472
Establishments exempt from federal income tax
2012 1,784 37,225 2.19 16,9822007 1,680 35,906 2.23 16,085
I’ve Heard about Nonemployers… What are They?
Nonemployers are businesses with no paid employees.
• Primarily independent contractors
• File IRS Form 1040 Schedule C
• Significant in number
• Significant in revenue in some industries
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More Data…
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Nonemployer vocational rehabilitation services businesses in Albuquerque CSA Counties: 2012
Geographic area nameNumber of
nonemployer establishments
Receipts ($1,000)
Receipts per establishment ($)
Bernalillo County, New Mexico 37 780 21,081
Cibola County, New Mexico D D
Los Alamos County, New Mexico D D
Sandoval County, New Mexico 11 308 28,000
San Miguel County, New Mexico D D
Santa Fe County, New Mexico 13 239 18,385
Torrance County, New Mexico D D
Valencia County, New Mexico 3 184 61,333
What Services do Businesses in this Industry Provide?
Data on products and services sold by businesses are available in the Product Lines data from Economic Census.
• Can be used in a business plan to identify the primary and secondary sources of sales of the business
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Investment income, including interest and dividends
Counseling and information services
Social assistance services for children, youth, and families
Resale of merchandise
All other receipts
All other revenue
Contributions, gifts, and grants - Private
Contributions, gifts, and grants - Government
Vocational rehabilitation services
Social assistance services for elderly and disabled adults
0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000
65,420
94,510
149,810
153,254
371,509
457,173
550,189
2,732,355
2,860,231
4,888,036
Top 10 Product Lines (Revenue) for NAICS 62431 ($1,000)
3,885,453
443,206
215,269180,426 53,487 52,515 42,610 15,070
Detailed social assistance services revenue ($1,000)
Vocational rehabilitation services for elderly and disabled adults
Other social assistance services for elderly and disabled adults
Personal care services
Adult day care services for elderly and disabled adults
Counseling and information services for elderly and disabled adults
Homemaker services
Social interaction services for elderly and disabled adults, on-site
Prepared on-site meals for elderly and disabled adults
How Big Should A Business Be?
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The Economic Census includes data broken out by the sales and employment size of the business
• Can be used in a business plan to understand the size of a “typical” business in an industry
• Can also be used to forecast the future growth of a business to it’s most efficient size
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0
200
400
600
800
1,000
1,200
1,400
1,600
42100
200
457
1,218 1,221
1,349
1,509
587
299
154
495
Number of vocational rehab establishments: 2007
19
No employees
1 employee
2 employees
3 or 4 employe
es
5 or 6 employe
es
7 to 9 employe
es
10 to 14 employe
es
15 to 19 employe
es
20 to 49 employe
es
50 to 99 employe
es
100 employees o
r more
Estabs n
ot opera
ted for t
he entire ye
ar0
200
400
600
800
1,000
1,200
1,400
20
664
459
753
533642 675
502
1,328
721
839
495
Number of vocational rehab establishments: 2007
Anything Else?
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The Economic Census also publishes detailed data that is tailored to specific industries, including information on expenses and revenue.
• Can be used to further understand the composition of an industry
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Selected Statistics for Vocational Rehabilitation Services Exempt from Federal Income Tax: 2007
Number of establishments 5,854Receipts / Revenue ($1,000) 9,836,026
Expenses ($1,000) 9,576,565Grants and transferred contributions ($1,000) 279,422
Net expenses ($1,000) 9,297,143
Key Ratios: Receipts / Revenue per Establishment ($1,000) 1,680
Expenses per Establishment ($1,000) 1,636Expenses - Percent of Receipts / Revenue 97.4%
Grants and transferred contributions - Percent of Receipts / Revenue 2.8%
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U.S. Vocational Rehabilitation Services (NAICS 62431) by Tax Status and Payment Source: 2007
Meaning of tax status code Meaning of Type of social assistance code Year
Number of establishm
ents
Receipts/Revenue ($1,000)
Lines receipts ($1,000)
Distribution of lines receipts
All establishmentsAll types of social assistance 2007 7631 11535590 6543394 100.0
Governent payers 2007 X X X 82.4
Private payers 2007 X X X 17.6
Establishments subject to federal income taxAll types of social assistance 2007 1777 1699564 1670572 100.0
Governent payers 2007 X X X 88.9
Private payers 2007 X X X 11.1
Establishments exempt from federal income tax
All types of social assistance 2007 5854 9836026 4872822 100.0
Governent payers 2007 X X X 80.7
Private payers 2007 X X X 19.3
Visualizations?
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The Industry Statistics Portal also provides access to visualization of selected economic data.
• Can be used in business plans and presentations
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SummaryEconomic Programs data from the Census Bureau can be an invaluable source of information in a business plan to measure:
The target market of a business
The overall health and composition of the industry and competing businesses
The impact of complementary businesses on the location of the business
The roll that business suppliers can have on the location of a business
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Questions
