PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

USMCA Will Produce Significant Benefits for Entrepreneurs and Small Businesses, Says the Nation’s Top Advocate

By at 19 December, 2019, 10:58 am

“Small businesses will grow more, innovate more and trade more under USMCA.”

NEWS

For Immediate Release

Washington, D.C. – The U.S. House of Representatives will vote on the United States-Mexico-Canada Agreement (USMCA) today, and Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan is reminding representatives about the importance of the agreement to U.S. entrepreneurship, investment, and small business growth and opportunity.

“The U.S. trade relationship with Canada and Mexico has created significant opportunities for America’s entrepreneurs and small businesses. The vast majority of U.S. firms that do businesses in Canada and Mexico are small businesses, and the opportunities will only grow under USMCA.  The digital, IP, good regulatory practices and small business chapters will significantly enhance small business participation in these markets. Our platform-based global economy requires rules that allow entrepreneurs to take advantage of the efficiencies and tools provided by global platforms. USMCA modernizes rules and practices that leverage the reach and efficiency of these platforms while lowering barriers that ease friction and costs. Small businesses will grow more, innovate more and trade more under USMCA. We urge every member of the U.S. House to support the agreement.”

On top of its year-long advocacy and education campaign promoting the benefits of USMCA to U.S. entrepreneurs, small businesses and their employees, SBE Council recently joined more than 700 business organizations in signing a letter to all Members of the U.S. House urging support for the agreement.

Related Content:

SBE Council’s USMCA FACT SHEET: USMCA Promotes Entrepreneurship and Small Business Growth.

Small Business Export Data

●  Of the 55,755 U.S. firms that export to Mexico, 57.6 percent have less than 20 employees, 72 percent have less than 50 employees, 81.4 percent have less than 100 employees and 93.6% have less than 500 employees.

●  Of the 94,278 U.S. firms that export to Canada, 61.8 percent have less than 20 employees, 76.6 percent have less than 50 employees, 84.5 percent have less than 100 employees and 94.7percent have less than 500 employees.

Small Business Import Data

●  In terms of imports, of the 15,592 U.S. firms that import from Mexico, 58 percent have less than 20 employees, 67.8 percent have less than 50 employees, 74.3 percent have less than 100 employees, and 86.6 percent have less than 500.

●  With respect to Canada, there are 17,374 U.S. importers and 43.2 percent have less than 20 employees, 55.4 percent have less than 50 employees, 64.9 percent have less than 100 employees, and 82.9 percent have less than 500 employees.

Read the USTR Fact Sheet on how USMCA benefits small businesses.

Contact: 

Karen Kerrigan, SBE Council president & CEO

e-mail: kkerrigan@sbecouncil.org

SBE Council is nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 25 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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