ILSR’s 2022 Independent Business Survey looks at market concentration in our economy and how it is impacting independent business owners.
From Institute for Local Self-Reliance
- Nearly two-thirds of respondents rated as a major challenge the fact that their big competitors receive special discounts and terms from suppliers. By strong-arming suppliers, dominant corporations can tilt the playing field and compel suppliers to raise prices to independent businesses.
- 62% of businesses said Amazon’s control over the online market was a very or extremely significant challenge.
- More than half of businesses reported that a major challenge is that their big competitors sell goods and services below cost, which is a predatory tactic well-heeled corporations can use to take market share from small rivals without having to compete for it.
ILSR also asked businesses about the policy actions that would be most helpful. The five policies cited as most effective were:
- Ending subsidies and tax breaks for big businesses
- Breaking up and/or regulating Amazon
- Investing in downtowns and neighborhood business districts
- Strengthening antitrust policy and enforcement
- Capping credit card swipe fees
” Hard to understand how the growth and survival of small businesses has taken such a back seat in both political parties over the years.”
– small business in rural New Hampshire
Check out the rest of ILSR’s 2022 Independent Business Survey findings here.