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Challenge

A regional economic development company had an opportunity to expand their service area for small business micro-loans. To ensure the success of the possible expansion, a better understanding was needed of local market demands, competitive factors, business systems and target marketing.

Actions

• Leveraged DataKey and client contacts to conduct extensive primary interviews with VIPs familiar with the small business environment and business networks in the expansion area.
• Accumulated data-centric secondary market research to assess potential gaps in small business lending and the socio-economic conditions in the area.
• Thoroughly processed and analyzed the information collected to develop realistic, concrete recommendations for expansion.

Results

• Designed an expansion strategy for near-term and long-term, including immediate resources and contacts for the company.
• Recommended clarified market positioning and a network of strategic partnerships that would rapidly accelerate the expansion plans.