Support For Global Trade Is Growing
One would expect, given the anti-trade rhetoric over the past year that small business support for global trade would be declining. In fact, it’s the opposite.
The fact that marketplace changes for American small businesses now are faster, more global and more mobile has created the need for adjustments and the expansion of opportunities. At FedEx, we often hear from our own customers about the benefits of global trade, but with the recent FedEx Trade Index,* we also gathered opinions about global trade from a cross section of small business executives and managers.
The results indicate that not only do small business leaders see the growth of global supply chains and trade as beneficial, support for global trade as integral to the future of America’s prosperity continues to climb. Take a look at the following:
Trade Improves the Economy:
Eight out of 10 (84%) small business leaders not only see global trade in a good light, 80% also say it will actually improve the U.S. economy overall. These results are nearly 10% higher than last year’s survey in September 2016.
Trade Translates to Jobs:
Three out of four small business leaders (76%) said increasing global trade creates opportunities and U.S. jobs. This is up from 69 percent last year.
Trade Creates Success:
Three out of four (76%) small business leaders told us access to foreign components and parts is necessary for the U.S. to be competitive globally.
Trade Demands Job Retraining:
Nearly nine out of 10 (87%) agree the U.S. needs to update its workforce training to adapt to our economy.
While the future of trade policy may be uncertain, the future of trade’s critical importance to American economic growth remains positive for small business. It’s something we see every day at FedEx where trade IS our business. We’re firm believers that global trade continues to be good for our customers, our company and the country.
?*FedEx Trade Index is a national survey of 1592 small business leaders commissioned by FedEx and conducted by Morning Consult, March 9-21, 2017. The margin of error for the full sample is +/- 2%. Click here to access the full survey results.
Logistics management - retired
7 年Politics may be the intersection of business and culture. The last few years of negative political discourse, inefficiency and wasted energy seems to me to be partially due to misperceptions about the benefits of global trade. I think we saw this most profoundly in the development of the Trans-Pacific Partnership. The potential of a highly beneficial trade deal was stymied by opaque legislative action and manipulation of the facts. It's great to see clean metrics supporting the benefits of global trade in the FedEx Trade Index.
Data Architect, Democracy Advocate, and Musician
7 年I appreciate FedEx using an outside marketing consultant to gather these results and sharing with all of us.
M.B.A.| Manager: Accounting & Controls | Continuous Improvement |
7 年Thanks for the research and analysis.
Vice President, Data Science and Operations Research, FedEx Dataworks
7 年Absolutely agree. Adam Smith said so in "Wealth of Nations" in 1776. I read that book a few years back and it's kind of the "Newtons Laws of Economics". Basic arguments but very powerful
Transformational Leader, Board Member, Strategic CFO, Multi-industry & Emerging markets expertise - held group CFO,COO, GM ,Transformation Officer mandates -worked in over 5 countries in global MNCs/ conglomerates/ Govt
7 年Nice article and excellent initiative ??