Launched in 2022, ULC’s Business Value Calculator (BVC) is a resource that helps public libraries quantify the economic impact of their support to entrepreneurs and small business owners in their communities. Since its release, libraries have successfully used the tool to communicate with stakeholders and advocate for library funding.

With its use has come a wealth of feedback on ways to enhance the tool. Therefore, in February 2025, ULC released an updated version of the tool and accompanying resources.

As of 2025, the BVC has been enhanced 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. The Communications Guide includes messaging templates and best practices for articulating the value of library business services to stakeholders, funders, and community partners.

Want to learn about how ULC members have used the updated BVC? See the new BVC Impact Report to read about seven ULC libraries that have used the updated tool to calculate their business services value—a total value of over $17 Million!

With these enhanced tools, libraries can demonstrate their economic impact with greater clarity and confidence—making a stronger case for continued investment in library services that support business growth.