Radius April 2013 Small Business Report


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Radius April 2013 Small Business Report

  1. 1. Local Business ZeitgeistApril 2013
  2. 2. Radius has amassed an unmatched amount of data documenting the existence and activities of over 20million small- and medium-sized U.S. businesses. By collecting and organizing local information fromacross the web and other sources, Radius offers comprehensive insights derived from billions of piecesof information. Radius validates data by matching disparate data entities and updates any changes tobusiness information, new business openings and closings, and social media activity. The result is theonly living, breathing data set representing Americas local businesses.The Data
  3. 3. The Local Business Economy�����������������22.9 Million Active BusinessesIn March, we tracked 22.9 million localbusinesses in the United States. Ofthose businesses, 22% had physicalstorefronts. This number is downfrom February when we indexed morethan 23 million local businesses, ofwhich 21.5% had physical storefronts.Our index has been tracking local business trends for the past threeyears and this March, we noticed substantial changes in industry pat-terns and social activity around local businesses in the US. Tax ser-vices naturally have picked up in the first quarter. The number of localbusinesses previously running daily deals has declined more than 10%in the past month. Longevity has its advantages; newer businesseshave been nearly two times as likely to go out of business in 2012 thanbusinesses that have been around for more than five years.9.8%Restaurants3%Pet Services4%Tax Services22%PhysicalStores22.9 millionUS Local BusinessesNotable industries this month2% BeautySalons3% AutoRepair.5% FarmingSuppliesEverythingElse
  4. 4. hot spot nation!The local business economy accounts for 70% of the United States’GDP. In 2013, local business growth has slowed according to our index.Taxes, uncertainty around the country’s budget (i.e. The Sequester)and ObamaCare have caused entrepreneurs and local businessowners to become more conservative and risk averse. While certainindustries, such as technology, have seen healthy growth, other indus-tries in the local business economy are suffering. Highest growthmetros this month are SF and NYC contrasted with lower growth inthe South.Southern CA is theimmigration law capitalof the countryFun Statistics CountrywideThere are more than1,500 bagel stands inthe Tri-State AreaYou can eat BBQ ribsat 300 places in AustinKnown for coffee,there are 307 tearooms in SeattleMarijuana is for sale at131 dispensaries in DenverCorner tavernsnumber 227 in ChicagoThere are 101 businessesthat only sell fish bait inAlabama
  5. 5. Social Media and Local BusinessesIn February, our index indentified 5.5 million Facebook Pages for localbusinesses. Despite the perception that Foursquare’s popularityamongst users is waning, more than 2 million businesses were activelychecked-in to, almost double the number of businesses reviewed bysites like Yelp, Citysearch, and Urbanspoon. While Twitter was theleast pervasive of the social media available, local businesses onTwitter were quite active with many tweeting multiple times a month.+66+22+11+30FacebookPagesSocialReviewsTwitterAccountsFoursquareBusinesses5.5 MillionActivePages1.3 MillionActivelyReviewed 500kActivelyTweeting2 MillionActivelyChecked-in toLocal Business Social Page Activity
  6. 6. Number of local businesses with official websitesavailable to the public.7.5MNumber of 5-star local businesses who have run a dailydeal with Groupon, Livingsocial, or any of the other 250copy-cats.13KNumber of physical US local businesses with fewer thanfive employees.5MNumber of local businesses holding events in the nextthree months.49KNumber of local businesses mentioned by blogs orlocal news outlets in the last 12-18 months.573K
  7. 7. The Great State of LouisianaFor a state whose major cities have been bombarded by a series ofhurricanes and obscure weather events, Louisiana has a lively localbusiness economy. Almost 20% of all local businesses have an activepresence on a social media platform. However, Louisianans don’tseem to care much for reviewing their favorite places.Oh, and foodies: Be sure to try one of New Orleans’ 87 traditionalFrench restaurants!��������Facebook51,775 pagesReviewed10,781 locationsTwitter5,265 accountsFoursquare29,972 businesseschecked-in toOnly 3,155 of Nola’s 138,025businesses are located in thefamous French Quarter“The Pelican State”329,695 local businesses indexed8,876 restaurants1,267 florists342 fish markets
  8. 8. Local Business ZeitgeistApril 2013Identifying and engaging with the right local businesses can be overwhelming due to the disorganized -and often contradictory - nature of local business information. Radius delivers the only centralized viewof data on over 20 million local businesses by aggregating and organizing from thousands of online andoffline sources, including social media sites like Facebook, Twitter, Google, Foursquare, Opentable, blogsand more. Every business – whether large or small, established or pioneering – can now do business witheach other easier than ever before.Based in downtown San Francisco, Radiuss technology has been under development since November of2008. Data scientists, engineers, and sales experts run the company. Management and the Board ofDirectors consist of leaders from Facebook and Intuit and investors include American Express, Comcast,and Blue Run Ventures.About Radius