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How eBay are creating economic opportunity for U.S. Small businesses in 2020
eBay have released their June Small Businesses Report ‘How We’re Creating Economic Opportunity’ which details how they are enabling U.S. business success by offering ample opportunity to reach consumers across the globe.
eBay say they have been helping small businesses across America reach a wider audience through getting them online, especially during the Coronavirus crisis where a wider reach than local communities is needed for small business survival. In their report, eBay show small businesses how to reach 174 million consumers worldwide by setting up a storefront on the marketplace and move products across the world in ways that significantly increase their revenue streams.
“96 percent of small businesses on eBay in the United States export internationally, sending goods to an average of 17 foreign countries. Additionally, nearly 60 percent of eBay entrepreneurs ship goods to customers across four or more continents.”
The report goes into detail about the Global Trade Opportunities available for eBay sellers across the U.S., how smaller businesses can compete in global markets, and gives insight into how these expanding global trade opportunities are creating more online economic growth in rural communities that are suffering from more stagnant growth overall.
“Small businesses in rural areas receive an opportunity boost when they partner with eBay, even during challenging times, because of the access to the global marketplace. Our report provides evidence that ecommerce can help turn the rural economic tide to one of prosperity. For example, from 2011-2017, rural counties across America experienced 13.1 percent growth in the number of eBay-enabled small businesses compared to less than 1 percent growth in the number of traditional brick and mortar businesses.”
Read the full report here.