Delaware is one of the 50 US states with a population of around 1 million people.
It is the second smallest state by area. Delaware has three counties: Sussex, Castle, and Kent, and over 50 cities, including Wilmington, Hartly, and the capital, Dover. Its location is beneficially located in the North East Corridor with proximity to major cities of NYC, Philadelphia, Baltimore and Washington DC. The unemployment rate in Delaware is relatively low, and its GDP is over $75 billion dollars.
Why is Delaware exceptional? Delaware has the most prominent chemical industry in the United States. The headquarters of DuPont is in Delaware. DuPont is the leading chemical manufacturer in the world.
The state exports a large variety of chemical products across the globe, including Teflon, Nylon, Stainmaster carpets, and printed materials. The chemical industry makes the Delaware economy stronger.
The agriculture industry also holds a significant part of the Delaware economy. The state is the leading producer of broiler chicken. Apart from that, the economy relies on dairy products, potatoes, soya beans, and corn. With the proximity to the Atlantic Ocean, the fishing industry is also peaking.
The healthcare, financial, aircraft, and tourism industries also contribute to the economy.
Starting a business in Delaware
Delaware has one of the most favorable systems of new business formation. Many corporations decide to incorporate their businesses in Delaware due to its business-friendly laws and incentives. Delaware also provides support for startups. New businesses can get full technical assistance for the structuring of a corporation. Hence, the state offers greater privacy and provides tax advantages. These benefits include investor opportunities for your corporation.
About Market Research in Delaware
For any business, Market Research is a must. Why?
People should understand the needs of the customer base. These needs are social, cultural, and economical, and they influence your business. Your team will have to engage with communities. You’ll also need in-depth interviews about the possible opportunities for business.
You also need to know about your competitors. At SIS International, when we do Strategy Research, it includes complete customer and competitor analysis. We identify the potential strengths and weakness of your competitors. This knowledge will help you to build up a successful business.
Getting help from native Delaware is essential when doing proper Qualitative Research. Want to know how the people of Delaware are likely to respond to your product or service? Qualitative Research provides a rich, detailed picture. It shows you why people act the way they do. It also tells you their feelings about these actions. Key methods includes Customer Interviews, Focus Groups and Ethnography. Qualitative Research records attitudes and feelings and provides depth and detail to your data. It creates openness by encouraging people to open up in their responses. This type of research can explore new topics not considered by your company.
Quantitative Research allows you to do a broader study involving more subjects. With this type of Research, it’s easier to show overall results. Quantitative Research provides for greater impartiality and completeness of results. It uses standards, which means that we can replicate your study, analyze it, and compare it to similar ones. Researchers can avoid personal bias by keeping their distance from participating subjects. They can also use persons unknown to them.
Comprehensive Market Research helps to grow your business. It optimizes your performance, reduces risk, and helps you to beat out the competitors.