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News & Press: Industry

Amazon is Changing Small Business

Tuesday, November 27, 2018   (0 Comments)
Posted by: Alyce Ryan
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Amazon is seemingly everywhere. The e-commerce giant delivers our groceries, hosts our websites, sells just about anything and can get it to you in two days or less. Its founder, Jeff Bezos, is a ruthless leader, a small business lender, a software developer, a rocket man and a Rockefellerian corporate titan. Plus, he's positioned his business to thrive in what feels like hundreds of industries. Amazon has effectively changed everything – and that includes small business.

A quick Google search about Amazon's impact on small business yields countless articles praising the glory of Jeff Bezos or crying foul at a company crushing the hopes and dreams of every mom-and-pop shop in America. As is typical in our modern age, this polarization is the reflection of loud opinions and not the actual truth of the matter, which is that all Amazon is doing is changing the way small business owners sell their products.

"It has forced [small businesses] to embrace e-commerce as a critical route to reach their consumers and revenue source," said Jeff Somers, president of Insureon, an insurance company that sponsors various polls and surveys on small businesses.

This movement toward e-commerce is undeniable, but the real question is whether the transition from brick-and-mortar retail sales is annihilating small businesses or causing closures that result from natural economic growing pains. It's also not clear whether the transition is all because of Amazon. Still, in the age of e-commerce and two-day delivery, businesses are struggling to weather a storm that's brewing despite booming economic times.

The only advice experts are giving business owners everywhere: Get online or die.

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