FedEx Trade Index: Small Businesses View Trade, Technology as Avenues for Growth, Essential to COVID-19 Recovery
October 29 2020 - 10:05AM
Business Wire
A majority of U.S. small business leaders think expanded trade
between the United States and other countries creates opportunity
and jobs in the U.S., notes the sixth FedEx Trade Index(1), a
survey of 1,000 small business leaders which tracks the impact of
international trade among the small business segment of the U.S.
economy.
The survey*, commissioned by FedEx Corp. (NYSE: FDX) and
conducted by Morning Consult, finds 82% of U.S. small business
decision makers believe increasing trade between the U.S. and other
countries will improve the economy overall. Three-fourths (75%) of
these small business leaders think expanding trade will create
opportunities and jobs. Still, some respondents report feeling
unable to take full advantage of the benefits of trade: 70% of
companies engaged in international trade said that customs
regulations presented a barrier to their international e-commerce
business.
“The results of the FedEx Trade Index remind us that, even in
times of global uncertainty, small businesses overwhelmingly value
the opportunities for growth and access to new markets that are
made possible through global trade,” said Brie Carere, executive
vice president, chief marketing and communications officer, FedEx
Corp. “In 2020, small businesses are adapting rapidly to embrace
e-commerce and extending their reach to new consumers beyond their
borders. Small businesses believe in the benefits of modern free
trade agreements to enable their growth.”
The Fall 2020 FedEx Trade Index also features a complementary
survey conducted in Canada, offering insights from business leaders
from two of the three markets in the United States-Mexico-Canada
Agreement (USMCA), which took effect in July 2020. An overwhelming
majority (91%) of U.S. small business leaders are supportive of
USMCA, up from 84% in the Fall 2019 FedEx Trade Index. Small
business support for the agreement is also strong among survey
respondents in Canada, where 86% of small business leaders
expressed their support for USMCA.
Additional insights include:
- 85% of U.S. small businesses agree that programs addressing job
retraining and skills upgrading should be a priority to help the
U.S. compete globally.
- 47% of small businesses report investing in new technology
since the start of the COVID-19 pandemic.
- A majority of respondents say using technology to create better
customer (74%) and employee (71%) experiences is important for
their small business’ success and COVID-19 recovery.
[1] The FedEx Trade Index is a national survey of 1,000 U.S.
small business leaders conducted by Morning Consult. Trade Index
research also incorporated 500 respondents in Canada. Respondents
included business owners and executives at companies with between
two and 500 employees. The U.S. and Canada research was conducted
online September 28-29, 2020. The margin of error for the full
sample is +/-3%.
For More: Survey Results Infographic
Previous FedEx Trade Index releases: *FedEx SME Trade Index Fall
2019 *FedEx SME Trade Index Summer 2018 *FedEx SME Trade Index
Winter 2018 *FedEx SME Trade Index Spring 2017 *FedEx SME Trade
Index Fall 2016
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenue of $71 billion, the company
offers integrated business solutions through operating companies
competing collectively, operating collaboratively and innovating
digitally under the respected FedEx brand. Consistently ranked
among the world's most admired and trusted employers, FedEx
inspires its more than 500,000 team members to remain focused on
safety, the highest ethical and professional standards and the
needs of their customers and communities. To learn more about how
FedEx connects people and possibilities around the world, please
visit about.fedex.com.
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Isabel Rollison isabel.rollison@fedex.com 901-434-8100
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