Can the Executive Order on Competition Help Your Small Business? | News & Trends

Rhett Buttle Explains three initiatives within the Executive Order on Competition that may affect the future of small businesses. View more News & Trends videos: https://bit.ly/biznewsandtrends

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0:00 Who is Rhett Buttle?
0:22 What are the effects of corporate consolidation on SMBs?
0:48 What is the Executive Order on Competition?
1:07 How does federal contracting help small businesses?
1:40 Lowering healthcare costs for small businesses
2:08 Banning unfair marketing practices on online marketplaces

Too many small business owners are dealing with corporate consolidation and unfair competition, especially in the online marketplace. Within the past 20 years, Founder of Public Private Strategies Rhett Buttle says large corporations control the majority of several industries, including healthcare and agriculture, which dwindles small businesses chances of success in those sectors. The Executive Order on Competition recently signed by President Biden is aimed at taking important steps to help small businesses thrive in the future. With 72 initiatives focused on lowering prices and increasing wages, Rhett touches on a few key initiatives that affect entrepreneurs. From increased opportunities for federal contracting to decreasing the cost of healthcare and breaking down unfair practices of online marketplaces, the goal of the Executive Order on Competition remains the same — to create more competition and level the playing field for small businesses to reach their fullest potential. Because healthy competition is what makes the American Dream possible.

References:

Since the 1970s, the rate of new businesses forming has dropped by nearly 50%.
https://www.forbes.com/sites/rhettbuttle/2021/07/13/what-president-bidens-executive-order-on-competition-means-for-small-businesses/?sh=6139a2d05986

The executive order is intended to lower consumer prices, increase wages and promote economic growth. https://www.forbes.com/sites/rhettbuttle/2021/07/13/what-president-bidens-executive-order-on-competition-means-for-small-businesses/?sh=6139a2d05986

87% of small business owners believe it’s important to lower healthcare and prescription drug costs. https://www.forbes.com/sites/rhettbuttle/2021/07/13/what-president-bidens-executive-order-on-competition-means-for-small-businesses/?sh=6139a2d05986

Startups and established companies risk big tech companies replicating technological innovation that’s not fully protected by patents. https://hbr.org/2020/02/a-survival-guide-for-startups-in-the-era-of-tech-giants

Learn more about Public Private Strategies:
https://www.publicprivatestrategies.com
https://www.facebook.com/PublicPrivateStrategies
https://www.twitter.com/PubPrivStrat
https://www.linkedin.com/company/public-private-strategies

Resources for Small Businesses:
Venture Forward study: https://www.godaddy.com/ventureforward
Up-to-date info on COVID-19: https://www.cdc.gov
COVID-19 resources and grant information: https://www.covid19businesscenter.com

The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.

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