The U.S. Census Bureau is reminding small business owners - including franchises - that the Economic Census is about to begin. The census is the U.S. Government's official five-year measure of American business and the economy - including travel and travel agents. It is conducted by The U.S. Census Bureau, who notes that response is required by law.
Forms go out to more than 4 million businesses, the Bureau says, including large, medium and small companies representing all U.S. locations and industries. Respondents are asked to provide a range of operational and performance data for their companies.
As part of the U.S. Census Bureau's mission to measure America's economy, the next Economic Census will be conducted for the year ending December 2012.
Response to the Economic Census is important for your industry, your community and your business, the Bureau says, citing the following;
. • Your trade association and chamber of commerce rely on information from the Census for economic development and business decisions.
• Government agencies, analysts and business organizations nationwide also rely on Census information for planning and key economic reports.
• Information provided by the Economic Census can also help you support decisions and planning for your own business.
All companies who receive forms must respond so each industry and region will be accurately represented, the Bureau says.
The forms will collect basic data about the number of employees, payroll, and the value of goods or services produced in 2012. The results serve as the foundation for the gross domestic product (GDP) and other indicators of economic performance, the Bureau says.
Businesses who receive an Economic Census form, are encouraged to fill it out. Compliance is required by law and responses are confidential, the Bureau says. But more importantly, timely and accurate responses means better information about our industry and its role in the U.S. economy, the Bureau says.
The Bureau offers extensive information on the Census as well as informative webinars.