WASHINGTON, D.C.--(BUSINESS WIRE)--Today, Small Business Majority released a scientific opinion poll that reveals most small business owners seek a more equitable playing field with larger competitors, particularly on digital platforms and in the area of contracts and agreements.
Even before the pandemic, large corporations maintained a stranglehold across all markets and industries. When many small businesses pivoted to online platforms during the pandemic to keep their businesses afloat, they were exposed to further competitive inequities. Following are key findings from the report, outlining some of those unfair practices:
- Small businesses want a more equitable playing field with their larger competitors: 83% said larger companies have the resources to drown small businesses out with their market power
- Small businesses increasingly rely on online platforms for their businesses: 30% use Facebook's marketplace as part of their marketing strategy
- Standard big business practices are hurting smaller firms: 35% said they had been affected by self-preferencing, while 55% believe that it's an issue; 34% said they had been negatively affected by predatory pricing, while 55% believe that it's an issue
- Small businesses are impacted by unfair agreements and terms with large companies. 41% said they had been negatively affected by differential pricing based on their size
The responses of 500 small business owners nationwide reveal that myriad anti-competitive practices are harming our nation's entrepreneurs. Larger businesses are using their market power to stifle smaller businesses -- thus putting them at a distinct competitive disadvantage. Smaller firms support policies to create a more equitable environment in which to do business. Bipartisan legislation such as the American Innovation and Choice Online Act exemplifies the strong measures needed to address monopolization holding our nation's job creators and innovators back.
This poll reflects a national survey of 500 small business owners with up to 100 employees conducted by Lake Research Partners for Small Business Majority. To read the full report, visit: https://bit.ly/SmallBusinessMajorityFairCompetitionPoll
About Small Business Majority
Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and equitable economy. We engage our network of more than 85,000 small businesses and 1,500 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.
