Tuesday, May 8, 2018
Economic Census measures activity vital to understanding business trends; forms must be submitted by June 12
Every five years, the U.S. Census Bureau conducts the Economic Census, the official measure of the rapidly changing landscape of American businesses and national economy.
And now, it’s time for business owners to respond.
Businesses are required to contribute to the economic census, according to Title 13, Section 224 of the census code. Respondents may use an online, secure portal at www.census.gov/EconomicCensus Information collected that could identify individuals or businesses is confidential.
Data collection began May 1 with formal letters sent to multi-location and small companies. Deadline for businesses to file their responses to the U.S. Census Bureau is Tuesday, June 12.
The data is used by policymakers, governments, chambers of commerce and communities to support economic development strategy; it also provides key information in formulating a rationale for business decisions in the private sector. Further, the Economic Census is a statistical benchmark that reflects current economic activity as it relates to the indices of gross domestic product and producer prices.
Statistics offer an overview of a range of industries, including construction, wholesale, manufacturing, utilities, finance, mining, retail and services along with key insight into entrepreneurial activities and general characteristics of business ownership.
The updated Economic Census, which will reflect 2017 year-end figures from approximately four million business locations, is expected to be released in September 2019.
To contact a business development specialist, click here or call 1.888.522.0103.