Where Have All My Customers Gone?

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Jan 05, 2021, 08:49 ET

BELMONT, Mass., Jan. 5, 2021 /PRNewswire/ -- Daniel Research Group, a market research firm specializing in economic and market forecasting announces its updated US Business Economic Demographic Database Report (BEDD).

Post COVID-19 Firms, Business Sites, and Emplyment Recovery

Over the next few weeks, many economists will publish GDP and other macro-economic forecasts for the recovery from the COVID-19 economic shock. While these forecasts provide context, they not do not directly address the major challenges facing businesses today. Executives need to make near-term decisions regarding investments and asset allocations, product/service design and development, and marketing tactics and strategies. Knowing the size of their market, as well as understanding its growth trends, is essential to making correct decisions.

The economic shock caused by the COVID-19 virus has significantly changed the business demographic structure of the United States economy. These size and trend changes will remain long after the economy has recovered from the Covid-19 induced recession, and will significantly impact the size and composition of the Total Available Market (TAM) for products and services marketed to business, business units, and employees.

Change in Number of Firms by Firm (Employees) Size Class
Size Class	2020	2021	2022	2023	2024	2025	2025 - 2020
Less than 5	292,791	95,636	72,087	27,975	17,439	15,343	-64,312
5 to 9	-98,127	18,036	5,508	-5,889	-8,220	13,169	-101,861
10 to 19	-62,365	22,731	10,931	3,797	2,552	-3,205	-25,559
20 to 99	-60,019	21,753	10,278	3,010	1,532	-4,472	-27,917
100 to 499	-8,633	4,062	3,426	2,039	1,782	1,613	4,289
500 to 999	-1,236	520	480	294	287	271	616
1000 to 2499	-843	488	643	631	684	601	2,203
2500 to 4999	-450	24	31	-31	-56	-55	-536
5000 to 9999	-225	77	71	35	35	19	12
10000 or more	-267	208	265	179	161	171	717
	-524,956	163,534	103,720	32,041	16,195	-2,883	-212,349
∞∫∆ Daniel Research Group © (2021)

Change in Number of Firms by Industry
Industry	2020	2021	2022	2023	2024	2025	2025 - 2020
Forestry, Fishing, Hunting, Agriculture	-19,853	8,621	15,534	12,464	11,760	13,465	41,991
Mining	-1,314	1,392	2,034	2,158	2,246	2,488	9,004
Utilities	-450	401	200	162	146	65	524
Construction	-61,764	27,883	11,535	7,122	4,704	1,081	-9,439
Manufacturing	-18,436	8,773	3,760	486	-237	-1,450	-7,104
Wholesale	-18,616	4,090	1,602	-1,705	-2,559	-2,505	-19,693
Retail	-46,952	19,221	8,332	151	-1,464	-4,090	-24,802
Transportation, Warehousing	-19,941	10,911	4,536	1,573	997	-2,119	-4,043
Information	-2,845	224	4,037	2,182	2,002	2,754	8,354
Finance, Insurance	-5,702	-2,457	3,136	104	-544	2,833	-2,630
Real Estate, Rental, Leasing	-1,235	4,815	13,016	8,750	7,770	13,482	46,598
Professional, Scientific, Technical Services	-31,362	18,953	32,074	20,105	17,836	24,778	82,384
Management of Companies, Enterprises	-1,438	414	509	308	321	184	298
Administrative Support, Waste Management, Remediation Services	-15,041	1,532	3,108	715	44	1,909	-7,733
Education	-2,623	2,968	6,252	5,177	4,900	7,550	24,224
Health Care, Social Assistance	-25,450	-6,960	9,037	2,838	486	10,017	-10,032
Arts, Entertainment, Recreation	-34,511	6,911	-3,960	-5,784	-5,819	12,171	-55,334
Accommodation, Food Services	137,577	32,031	-17,307	23,487	23,064	49,810	219,214
Other Services	-79,690	23,850	6,162	-1,335	-3,377	11,484	-65,874
National Defense	-14	-16	-16	-14	-11	-10	-81
Public Administration	-142	-23	139	71	58	150	253
Total	-524,956	163,534	103,720	32,041	16,195	-2,883	-212,349
∞∫∆ Daniel Research Group © (2021)

DRG's BEDD was designed and developed to forecast the Total Available Market (TAM) for products and services measured in terms of the number of buyer/users – Employees, Businesses, and Business Sites, by Sector, Sub-Sector, Industry, Occupation, and Business Size. It answers one question, "Where is your opportunity?"

Contact
Steve Daniel, President
Daniel Research Group
(617) 484 – 6225
[email protected]
www.DanielResearchGroup.com

SOURCE Daniel Research Group