Empowering Small Business: The Impact of Technology on U.S. Small Business – uschamber.com

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Report finds that technology is a driver of economic success for small businesses and that policymakers must encourage an environment that enables all businesses to succeed with digital tools.
Published
August 02, 2022
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American small business owners have weathered cascading economic storms over the past 5 years: COVID-19, supply chain disruptions, staffing shortages, inflation, and more. But through these challenges, small business owners have found paths to resilience in part due to the edge provided by the technology platforms that empower efficiency, access to customers, deep insights, and the ability to thrive. This technology-enabled success has made meaningful contributions to communities and the broader U.S. economy.
"Since 2020 small businesses that incorporate technology platforms are more likely to see growth in their sales, profits, and employment"
To measure the effect that a diverse range of technology platforms has had on small businesses and the economy, the Chamber Technology Engagement Center (C_TEC), working with Teneo Research, conducted a nation-wide survey and econometric analysis of the U.S. small business ecosystem. What we found is that technology is a driver of economic success for small businesses and that policymakers must encourage an environment that enables all businesses to succeed with digital tools.
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