Global Trade Has An Effect on US Small and Local Businesses
WASHINGTON, D.C. (September 16, 2019) – Small business leaders today called on the House United States-Mexico-Canada Agreement (USMCA) Working Group to consider the unique needs of the nearly 60 million Americans small business owners employ. In a letter to Members of the House USMCA Working Group, twenty (20) Connected Commerce Council (3C) called on their respective Representatives to consider the implications of new global trade deals on digitally empowered small businesses. Implications raised in the letter include the effect USMCA could have on limiting new market availability, increased costs and digital sales taxes, and reducing the growth potential of online sellers, services, and distributors.
“Online tools, services, and marketplaces have given digitally empowered small businesses access to markets, customers, and opportunities previously beyond their reach,” said 3C President Jake Ward. “Tens of millions of U.S. small businesses that utilize online tools to reach the global marketplace, are looking to Congress and the USMCA working group to lead on their behalf. This is not a time to reduce market access or slow small businesses growth. It is a time to invest in their future and consider their specific interests.”
Small businesses increasingly use digital tools to expand beyond their geographic market to reach new customers and drive growth with overwhelming success. According to a recent study by Deloitte, digitally empowered small businesses are five times more likely to reach international customers. These small businesses leverage online tools to become more competitive, not just domestically but internationally.
As the letter states: “As Congress and the Administration increasingly look toward finalizing USMCA and other international trade deals, small business owners across the U.S. are growing increasingly concerned that specific attention will not be paid to their interests, that digital platforms, marketplaces, and tools are remarkably valuable for small business growth, profitability and long-term success.”
