Small businesses are the backbone of America, representing 99.9% of all businesses in the country and employing 61.7 million people.

In Utah, that sentiment remains true, with the Beehive state ranking eighth in the nation for new business applications in 2022 — an increase of 30% from 2019.

However, small business owners continue to face economic challenges that interfere with the success of their businesses. In the first quarter of 2023, 54% of small business owners ranked inflation as the top concern for their business. Other concerns consist of supply chain issues and rising interest rates.

Despite these economic challenges, small business owners feel good about the health of their businesses, so it’s safe to say entrepreneurship is leading the country and driving the economy. As a small business owner myself, I attribute this strengthened entrepreneurial spirit and small business drive to access American technology.

Digital tools and online platforms have allowed my business — and countless others around Utah and America – to grow beyond what I imagined. Technological innovations propel businesses and enable owners to reach customers beyond their local community, state, and even country. Continued innovations within the American technology sector allow small businesses to access services and use tools and platforms at free or lower costs.

Technology is, and will continue to be, a vital resource for small businesses to compete in highly saturated industries and succeed in this digital era. Technology is no longer an option but rather a necessity.

However, I am deeply concerned that misguided legislation in Washington that targets American technology would hamstring small businesses and hurt the tools and innovations we rely on to run and operate our businesses. A new report found that 78% of small business owners believe “digital tools will play a critical role in their company’s growth and success in 2023,” and 75% say these tools “will help their business navigate tough economic conditions in 2023.”

Now imagine how my fellow business owners are supposed to survive without access to these essential tools. They might see an increase in costs and a decrease in sales, subscribers or website views. Small business owners must be agile and innovative, often relying on technology to navigate uncertain times. But misguided legislation limits owners’ ability to adapt, grow their businesses, and serve their customers and undermines their freedom and flexibility.

By leveraging innovations within the industry, American technology has strengthened the U.S. economy and supported small businesses, all driving U.S. global competitiveness — small business exports in America account for $541 billion.

Entrepreneurs, founders, and small business owners embody America’s startup mentality and are some of the most courageous individuals powering the economy.

To uphold and protect this entrepreneurial spirit, policymakers must look to strengthen American technology and spur innovation. If not, the future of Utah’s and America’s economic growth, small business success, and global competitiveness may be in jeopardy.

Abdiel Vazquez is the president of Explore Strategies, was an intern for U.S. Sen. Mike Lee and former U.S. Rep. Rob Bishop and is a resident of Willard. He is a graduate of Weber State University and is earning a Master of Public Administration from Penn State University.

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