How could my business benefit from desk research?

Using reliable data to make key business decisions

It doesn’t matter if you’re at the idea stage or if your business is more established, desk research is a great way to ensure that you’re on the right track for business growth and development.

We know that getting stuck into the analytics and research might not be everyone’s cup of tea, but at the Business & IP Centre (BIPC) Sussex we get a little excited about helping customers find their perfect stat, report or consumer analysis nugget.

With our free business databases, a little training, and us to call on when things get tricky, desk research at BIPC Sussex can become not only a surmountable task, but also (dare we say it) a little bit enjoyable too. And all you need to access them is a library card.

What is desk research?

No matter what questions you’re asking on your start-up (or scale-up) journey, it’s important to know you don’t have to begin with a blank sheet of paper. 

Desk research is all about using other people’s findings and analysis to get to your answers quickly. 

You might want to know if your idea for vegan dog treats has – er – legs. Before you go out and ask your prospects on the ground what they think, it would pay to know how the global market on dog food is doing, the analytics and predictions around dog food purchase in local and international markets, and who are the key players in the pet food space. 

Desk research allows you to gather this information from a range of reports, databases and statistical tools. It’s a strategic advantage that can put you miles ahead of your nearest competitor, before you’ve even got out of your seat. 

What’s so important about data?

Having a data-led approach starts to look really appealing when it comes to investors, finance and funding. Using desk research can help you make sure your business plan is an evolving document. It allows you to pitch with accurate information and gives your investors’ confidence that you know your market, product and industry.  

By using the BIPC Sussex’s 10 business databases, you get all of this without having to pay a penny. 

Where to begin?

At the BIPC, we tend to start with COBRA, an easy-to-use encyclopaedia of information for starting, running and managing a small business. It includes over 4,000 factsheets, local area profiles, and business profiles to help you get off the ground.

Beyond COBRA we have five industry and market databases that give you the inside track on your industry: 

IBIS World has a huge amount of up-to-date information on industries in the UK and Ireland and allows you to see your data and analysis in easy to digest chunks.

Statista provides easy access to global statistical data and forecasts on industries, brands and consumers. It’s brilliantly visual and easy to use and has some great reports to contextualise all that data. 

EMIS is ideal for international industry news, company information and market reports on both long-standing and newer emerging markets. 

Euromonitor allows you to choose how you read your data toggling between stats, reports and visuals. Helping you to get to grips with the narratives around industry rises and falls. 

Mintel is the consumer information hub, examining the UK and Ireland market and customer information across a range of sectors including Food, Foodservice, Leisure, Media, Retail, Technology and Travel.   

When it comes to getting to grips with suppliers, partners, investors, clients, and competitors, company databases are a great source of information, contacts, and statistics:

FAME & Kompass Easy Business are two fantastic online databases that offer analysis of companies in detail, with FAME focusing on the UK & Ireland, and Kompass Easy Business looking at a global picture. 

Local Data Online finds information concentrated within a local area focusing on shopfront and retail units, with a great interactive map that offers detailed information and downloadable reports.

Arguably one of our most search-worthy databases is the one that can help you put your plans into action by giving you information on various financial support options:  

GRANTfinder is a huge and constantly updated source of information about the latest awards, grants and loans available to all sorts of pre-start-ups, start-ups and established businesses. This database is easy to use and one that deserves a monthly look at, at the very least. 

In summary then, considering desk research may not sound too glamourous, we at BIPC Sussex think that doing a little tabletop strategy can give your business the edge. 

If you’re stuck for ideas of where to start, our Business and IP Information Specialists are on hand to show you around each of the databases. Get in touch to book a free one-to-one Business Information Session with us today to find out more, or pop along to our regional centre at Jubilee Library.

Find out more at www.brighton-hove.gov.uk/bipc or email bipc@brighton-hove.gov.uk