Small businesses, which make up 98% of retailers and support more than 13 million American jobs, are particularly vulnerable to tariffs. Learn more.
Small businesses power retail — they make up 98% of retailers in the country. Right now, small retailers are grappling with economic and political uncertainty and facing an existential threat from tariffs.
We talk to NRF vice president of advocacy and engagement Meghan Cruz about the devastating impact of tariffs and what NRF is doing to advocate for small businesses. Plus, we hear directly from small business owners who share their stories.
The importance of small business is huge. “The overwhelming majority of retailers are small businesses,” Cruz says.
Not only that, but most large retailers got their start as a small business. ”Walmart didn't just become Walmart. Walmart started as one general merchandise store,” says Bill Thorne, NRF senior vice president of communications and public affairs. “Nordstrom was a shoe store and now it's a department store that makes billions of dollars in profits every year, creates jobs and opportunities in communities large and small. When you talk about helping small retail, what you're talking about is helping the future of retail as well as creating opportunities for these people to grow, expand and succeed.”
One of the biggest hindrances to small businesses’ success right now is the global trade war and unprecedented uncertainty around tariffs.
In Cruz’s extensive conversations with small business owners, she finds that most are feeling unease and dread about the tariff’s impacts. “ They are wondering how they're going to afford to put products on their shelves,” Cruz says. “They're wondering about the future of their customers. Are they going to have the income to spend? And just in general, are they going to be able to support their communities? Are they going to be able to hire more people? What I'm hearing from our folks is that they're spending a lot of time worried about the future and not able to focus on building their businesses and bringing joy to their customers.”
NRF’s mission is centered around advocacy — and an essential piece of that is amplifying the voices of small business owners. NRF recently brought small business owners to Washington, D.C., to share their stories with policymakers.
Aaron Brown, who runs a music store in Georgia, said he’s already seen a decrease in sales because customers can’t afford discretionary spending. Lisa-Jae Eggert, who created her own brand of natural bug repellant, produces her product in the United States, but her vendors rely on imports from China for bottle caps.
“ We have been in business for over 65 years and we have weathered many storms,” says Bob Jones, owner of a family outdoor recreation business in Chicago. “However, this tariff storm is nothing like we've had to weather in the past.”
Cruz urges other small business owners to get involved in advocacy work. ”The most important reason that small businesses should become engaged in advocacy is because it's so critical to personalize the issues that are affecting their business,”she says. “When you're sitting across the table from someone having a conversation, it's personal. It puts a face to the business. It makes the policymaker see the real impact the policy is having.”
Visit the NRF Action Center to get involved and advocate for retailers today.
Listen to the full episode to hear more from Cruz about how NRF is advocating for small businesses—and how you can make a difference.
How NRF advocates for small business owners
Why our industry is powered by small businesses
Amplifying the voices of small business owners
The response to NRF’s advocacy
The devastating impact of tariffs on small businesses
Uncertainty among small business owners
Why tariffs are an existential threat to small businesses
Aaron Brown’s story
How he’s seen a dent in sales at his guitar store
Bob Jones’ story
Why tariffs have been an unprecedented hardship for his small business
Lisa-Jae Eggert’s story
Why her American-made company still relies on imports
Making an impact with policymakers
Putting a human face to a business
Why small businesses should become involved with advocacy
Why these stories make a difference
Cruz’s message to small business owners
How to get involved in advocacy
Learn more with the NRF Action Center
Visit the NRF Action Center.
Learn more about how tariffs impact small businesses.
Learn about retail advocacy at nrf.com/advocacy.
Become an NRF member and join the world’s largest retail trade association.
Find more episodes at retailgetsreal.com.