FedEx: small businesses are in favour of global trade
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FedEx: small businesses are in favour of global trade

According to global freight shippers FedEx, small businesses are in favour of expanding global trade. The company recently released its second FedEx Trade Index – the result of a survey of small business leaders in the U.S. – and found that 84% of participants agree that expanding trade with other countries is a “good thing”. That number is up from last year, when 77% favoured more trade between the U.S. and other countries. 80% also felt that more trade would increase the U.S. economy, and 76% saw it as a creator of jobs and opportunities.

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SOURCE: The Business Journals

Raj Subramaniam, the company’s executive vice president and chief marketing and communications officer, said in a press release:

“These results show even more American small business leaders support expanding trade than last year. One thing is certain — small business leaders continue to view the growth of global supply chains and trade as beneficial to American workers.”

The survey was conducted by Morning Consult on FedEx’s behalf, and included 1,592 small business executives. Of those, 69% were owners, presidents and CEOs, and the remaining 31% were senior executives, such as directors and managers. The majority of businesses represented (58%) had 20 or fewer employees, while 21% had between 20 and 99 employees, and another 21% had between 100 and 500 employees.

FedEx itself is an enormous global presence, with a presence in 220 countries, 400,000 employees, and revenues of $50.4 billion in 2016. So the company should be cheering these results: businesses that want to trade overseas have to get their products there somehow.

Disclosure

Dominion holds FedEx in its Global Trends Ecommerce Fund.


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