The Urban Libraries Council (ULC) Business Value Calculator (BVC) helps public libraries quantify the economic impact of their support to entrepreneurs and small business owners in their communities. Since its release in 2022, ULC member libraries have successfully used the tool to communicate with stakeholders and advocate for library funding. ULC released an updated version of the tool in February 2025 with key updates, including:
- New calculation suggestions for measuring various metrics more effectively
- Makerspace impact assessment to capture the value of innovation hubs
- Adjustments for inflation to ensure more accurate valuations
- AI-generated key themes to help libraries interpret their data more efficiently
- A new user guide and data collection worksheet to simplify the process of gathering key metrics
Additionally, an updated User Guide and a brand-new Communications Guide are now available to help libraries effectively share their results with target audiences. ULC released the BVC Impact Report which describes how seven ULC libraries used the updated tool to calculate their business services value—a total value of over $17 Million!
Citation
Urban Libraries Council. (2025). Business Value Calculator. Urban Libraries Council. https://www.urbanlibraries.org/initiatives/workforce-economic-development/business-value-calculator
