According to a new “Small Business Impact Report” released by Amazon, more than one million “U.S.-based small and medium-sized businesses are selling on Amazon, generating hundreds of thousands of jobs across the U.S.” This comes a few days after the success of Amazon’s Prime Day, a 36 hour campaign aimed at generating sales for small businesses by highlighting products sold from these companies.
While it may be true that Amazon has created an unfair competitor to physical retail stores, it also provides tech savvy entrepreneurs with a large potential customer base that is cheap and easy to connect with.
In connecting with American, small and medium-sized businesses, Amazon revealed that all 50 states are represented within its platform along with 130 countries. According to its report. “more than 20,000 small and medium-sized businesses worldwide surpassed $1M in sales on Amazon in 2017, helping to create 900,000 jobs worldwide from system utilization.
Amazon also helps businesses in need of financial aid. “In 2017, Amazon lent more than $1B to U.S-based small and medium-sized businesses through the Amazon Lending Program.” With over $1 billion in lending and $1 billion in sales by small businesses, Amazon is combating the belief that the company is a small business killer.