Small businesses and technology platforms work together to drive economic growth, product innovation, and value for customers across the country. The value of partnerships between businesses large and small, and powered by digital tools and technologies, is felt in every aspect of life and every community in America. That is why tens of millions of digitally empowered American small businesses are concerned that attempts by state and federal policymakers to investigate, regulate, or even disrupt the services offered by digital platforms and marketplaces could drive up costs and inadvertently harm small businesses.
Supporting and serving American small businesses is good business, and many of the world’s most innovative companies invested billions of dollars in research and design to develop and provide online tools and products to more than 25 million American small businesses. Businesses have turned access to those tools and the opportunities they provide into local jobs, community pride, and national economic growth. To compete in an increasingly global market, small businesses need access to the right tools at an affordable price. Access to accurate digital marketing, scalable online tools, and digital marketplaces bring products to international audiences is the difference between success and stagnation for modern small businesses. We should do all that we can to ensure access to these remains affordable, continues to be easier, and is not disrupted.
How America’s small businesses rely on big tech’s investments:
- 85% confirm that digital services help the performance of business operations
- More than 40% of small businesses report customer growth directly attributable to the use of digital tools.
Unintended Consequences of Regulation:
- Make running a small business more challenging and expensive by limiting access to affordable data
- Congress does not have the expertise to effectively regulate “big tech” in a vacuum. Legislative action will directly impact the millions of small businesses that rely on digital services on a daily basis
Congressional action changing the way America’s leading technology companies support small businesses would inadvertently and unnecessarily harm our national economy, local communities, and the tens of millions of small businesses that drive them both.