Sencha business guide

Democratizing Access to business credit. Sencha is here to help everyone understand what it takes to start from scratch and transition to running a strong small business.  We are the business credit hub.

Understand your market
Market research helps you shape your business idea and reduce risks from the start. It's like learning about your potential customers and the economy before you even begin.
Sencha is here to help everyone understand what it takes to start from scratch and transition to running a strong small business. 
Here's what you need to do:
Learn about customers
Find out who might want to buy your product or service. Learn about their age, interests, and more.
Figure Out Demand
Check if people really want what you're offering
Know Market Size
Understand how many people might be interested in your business.
Check the Economy
Learn about how much money people in your target area make and how many have jobs.
Pick a Location
Decide where your customers live and where your business can reach.   
See what's out there
Check how many similar businesses are already around.
Set Prices
Figure out how much people might pay for what you're selling.
It's also important to stay updated on new trends in small business.
This helps you know what's happening in the market and how it might affect your profits.
You can find information from different sources
Existing Info
This saves time but might not be exactly what you need.   
Direct Feedback
Talk to people who might buy from you. This gives you more tailored info.
Remember, there are many free resources you can use to get info about your potential customers and market trends. Look for stats that fit your business and industry.
Free market research resources
Certainly, here are some reputable sources where you can find free resources for market research and business statistics
U.S. Small Business Administration (SBA)
The SBA provides a wealth of information for small business owners, including market research tools and guides.
Visit Website
Census Bureau
The U.S. Census Bureau offers demographic and economic data that can be incredibly useful for market research.
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Statista
Statista offers a wide range of statistics and data on various industries and markets.
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Google Trends
This tool shows you what people are searching for on Google. It's a great way to gauge interest in your product or service.
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 IBISWorld
IBISWorld provides industry reports and insights that can help you understand market trends and forecasts.
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Bureau of Labor Statistics
This source provides data on employment, wages, and other economic indicators that can help you understand your target market.
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Local Chamber of Commerce
Your local chamber of commerce often provides valuable information about the local business landscape.
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SCORE
SCORE offers free business mentoring and educational resources, including templates for market research.
Visit Website
Your Local Library
Public libraries often have access to market research databases and resources you can use for free.
Remember, there are many free resources you can use to get info about your potential customers and market trends. Look for stats that fit your business and industry.

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