Using The Local Services Index to Understand Your Market

1. Using The Local Services Index to Understand Your Market SCORE Association Local Services Index (LSI)

2. Objectives Create the ability to evaluate a chapter’s performance, relative to its market opportunity, irrespective of its size Identify best practices of high achieving LSI chapters Identify geographic areas that are being underserved Local Services Index

3. LSI = Total Local Services/Local Firms* Total Local Services includes workshop attendees and all counseling sessions with a local client Local Firms is from the US Census and includes both employer and non-employer firms – same group used for the Survey of Business Owners Local Services Index Methodology * In thousands

4. FY 2008 Total Local Services includes ‘local email’ counseling. FY 2008 National Average = 18.41 Local Firms – apportioned to chapters based on counties or a % of county based on zip code. DD’s will have the ability to request re-apportioning Local Firms by chapter. Local Services IndexInitial Implementation

5. What it is A relative index of a chapters local services performance contrasted to its business opportunity, i.e. a market penetration index What it isn’t A calculation of Market Share Local Services Index

6. Some observations: No apparent correlation between LSI and size of local business economy, all chapters can excel! Look at the top chapters in each market size category, plenty of best practices in all sized markets! Opportunities for growth abound! Some Observations

7. SCORE MIS Report U.S. Census Data: www.census.gov SCORE District Director SCORE Association Office Resources