As the wealthiest and one of the most educated countries in the world, America needs to invest in our technology future. This applies to all aspects of the industry, from extracting the required raw materials to developing new software. As the world becomes increasingly intertwined with technology, dependency on foreign nations for it is a security risk. We must ensure that we pass legislation that encourages the creation of new advancement domestically, and refrain from harming the technologies we already have. Furthermore, research indicates 36% of Hispanic businesses make most (or all) of their revenue online, compared to only 17% of non-Hispanic businesses. Additionally, 37% of Hispanic-owned businesses were home-based. Thus, the Hispanic business community relies on the services offered by major tech corporations to leverage growth opportunities and engage in economic activity. We need elected leaders to support innovation from major tech companies, not stifle it. That is why the USHBC was involved in combating proposed antitrust legislation with unintended consequences harmful to America’s small business community.

Fast Facts:

• Technology policy affects almost every industry. The FAA, FDA, NHTSA and many others have recently been involved in regulatory battles.

• Out of 1,260 imported commodities, computer chips ranked 8th and computer parts ranked 13th.

• Roughly 30% of all business in the United States is conducted online or through other technology.

• A one-year (2021) computer part shortage cost the U.S. economy $240 billion.

• 70% of all small businesses rely on Meta, Amazon, Google, and other tools to operate.