News Release: 3/18/2019

  Digital Tools Can Strengthen Rural America’s Economy     In the last few years, there has been a focus on rural America’s economy.
As we came out of the Great Recession, stories about small towns and rural areas falling behind growing urban areas has gotten the attention of writers, pundits, and politicians.
If they had a choice, many people would like to stay in the country or a small town, enjoying a different quality of life. Maybe they grew up in such a place and want their children to grow up as they did. Or maybe they don’t want to the faster pace of urban living.
A stronger, more vibrant rural economy will give people more options.
Small businesses can play an important role in strengthening rural America, and there’s a good opportunity to boost the entire U.S. economy if more small businesses tap into the power of digital tools.
A report from U.S. Chamber’s Technology Engagement Center (C_TEC) and Amazon looked at the potential opportunities digital tools and technologies could have for rural small businesses.
A considerable number of rural small businesses do rely on digital tech to run their businesses. Four-in-ten say digital technology helps them sell beyond their own state. In addition, nearly three-in-ten rural small businesses say technology helps them cut costs on products and materials they need to run their businesses, and more than one-in-five purchase at least 80% of their goods and services online.
But the study finds digital tools are being underutilized. Getting more rural small businesses to adopt them could have big economic effects. Over the next three years we could see:

• 360,000 more jobs created
• 21% annual growth in revenues – “the equivalent of $84.5 billion per year”
• $140 billion added to the U.S. economy

How do we unlock this digital potential for rural America?
The report has some recommendations:

• Expand the availability of rural broadband.
• Develop more skilled workers trained in in-demand technologies like cloud computing and digital marketing.
• Educate small businesses on the value of digital tools. Agencies like the Small Business Administration and the private sector can help expose and train small businesses to use the latest and most-useful technologies.

“The opportunity to successfully start and grow a rural small business in our country is a great example of how technology is positively transforming nearly every aspect of our lives,” said Tim Day, senior vice president of C_TEC. “Digital tools and technologies allow rural small businesses to compete in a global economy—regardless of their size or location – which is essential to a vibrant U.S. economy.”
Sustained, broad-based growth strengthens our nation’s economic health as well as improve the lives of all Americans.
Rural small businesses employing technology can play a crucial role.