Support of Small Business

William Plank

October 13, 2023 14:10

Good morning,

I am thinking through an analysis of our organizations historic support of small minority owned businesses across the US. I have data on annual spend by industry and location. Thinking through this analysis I am considering developing multiple models based on regions for large metropolitan areas and applying our organizational spending to the industries we support in those regions. I am not sure what the best model option would be for measuring the impact. I could see an avenue for contribution analysis or output. There are also spending patterns that could be considered. What would be the best methodology for an analysis of this kind?

I want to show the impact of our spending with those businesses and the importance of supporting small minority businesses. I also plan to include case studies in my final report to expand on the analysis.

Thanks,

William

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2 comments

Official comment

Candi Clouse, PhD
October 13, 2023 17:27

Hi William!

It sounds like you are off to a great start. I would recommend modeling each of the firms or groups of firms with Industry Events; sort of bypassing your organization's direct spend. This would show how your direct spend with them generates the economic impact. Unless the firms you are analyzing represent more than 50% of the total Output in their Industries, you don't need to worry about using Industry Contribution Analysis to restrict further buybacks.
William Plank
October 13, 2023 18:26

Thanks Candi!

That sounds like a good methodology. Many of these businesses are smaller, and I doubt I will find that they represent more that 50% of total output. I appreciate your quick response to the inquiry.

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