Bizimpact 1.1.3

Small businesses account for 95% of all companies, yet their economic significance is often overlooked. Unlike large corporations that conduct costly economic impact studies for lobbying purposes, small enterprises play a crucial role in job creation and tax revenue generation.

However, due to prohibitive costs ranging from $15,000 to $20,000, small businesses tend to avoid undertaking such studies. This app offers a solution for enabling small business owners to demonstrate the economic impact of their businesses on the local economy.

Here's why the information provided by this app is valuable:

• Obtaining tax breaks
• Securing bank loans
• Acquiring certifications
• Gaining advantages in bidding processes
• Supporting lobbying efforts
• Helping non-profits apply for grants or support

The app requires inputting four essential items (the last three obtained from your profit & loss report):

1. Years in business
2. Payroll expenses
3. Overhead costs
4. Cost of goods sold

Upon entering this information, the app utilizes a multiplier to calculate the ripple effect of initial spending within the economy.

The final page of the app unveils the impact of your small business on the economy. It's important to note that no data is retained within the Bizimpact calculator. You are advised to download a PDF of your results or share them on social media.