PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Advocate for Entrepreneurs Says FTC and States’ Action Against Facebook “Very Disturbing” for the Startup and Small Business Ecosystem

By at 10 December, 2020, 11:54 am

FOR IMMEDIATE RELEASE

Washington, D.C. – In response to the Federal Trade Commission (FTC) and 48 states’ action against Facebook, Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan issued the following statement:

“At a time when government needs to be doing all it can to support U.S. businesses, innovation, startup activity and small business growth, the FTC and states’ action against Facebook is very disturbing.  The startup ecosystem will be needlessly and carelessly disrupted by retrospective action to overturn previously approved mergers, and to require a company to get government sign-off for every little acquisition it is considering.  This sends a horrible signal to startups everywhere and to the companies that wish to add value for their customers via the acquisition of innovative upstarts.

“Moreover, the Facebook platform adds tremendous value and services – many of them free – to small businesses and startups, which have become critical during this horrific pandemic. The company’s many tools are being used by small businesses to find new customers, service existing ones, and operate their businesses more efficiently and on a remote basis. In other words, the platform creates tremendous value for small businesses and consumers alike, not harm. The FTC and states’ efforts undermine what our country and economy need more of in order to dig out of the deep economic hole we are facing. That is, more innovation, more entrepreneurship, more investment and more job creation.”

CONTACT: Karen Kerrigan, 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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