eBay Inc. Vice President and Deputy General Counsel of Global Government Relations Tod Cohen joined representatives from the World Bank and the House Foreign Affairs Committee Wednesday in Washington, D.C. to discuss barriers and opportunities for small businesses around the world. Cohen explained how eBay Inc.’s commerce platforms are creating opportunities and building a global empowerment network for the world’s small businesses.
Cohen unveiled the company’s findings from two years of research about the success of Internet-enabled small businesses around the world. Some of the research’s most significant findings include new details about eBay Inc.’s commercial sellers who engage in cross-border trade. A startlingly 97% of the commercial sellers export globally. These commercial sellers export to 19 different countries on average and have a higher survivability rate (60-80%) than their offline counterparts. Such findings are exciting because they are also consistent in developing countries like India, Peru, and South Africa. Download the Commerce 3.0 for Development infographic.
These businesses are able to achieve such strong results thanks to eBay Inc.’s platforms that facilitate online and offline commerce by knocking down traditional barriers to global trade, such as language and currency conversion. According to new PayPal data, demand for cross border online retail trade is expected to increase by more than 200 percent over the next 5 years. To ensure that this trend continues, eBay Inc. encourages government to reduce customs barriers and improve shipping systems in order to foster this new type of trade.
At the event, the World Bank’s Melissa Johns also presented the Global Indicators Group’s 2014 Doing Business Report, which analyzes the impact of business regulations around the world. The report is a valuable tool for businesses interested in global trade opportunities and policymakers working to open up developing economies. Finally, Nilmini Rubin, from the House of Representatives Foreign Affairs Committee tied together the discussion by describing the tremendous opportunity that technology brings, but arguing that some of the government barriers in place are limiting the benefits.
eBay Inc. remains committed to working with other companies, government officials, and organizations around the world to create a new digital economy that is more inclusive and expands the ability of everyone to engage in the global marketplace.
If you are interested in this issue, on Thursday, December 19, 2013 at 12 p.m. EST/ 9 a.m. PST – 12:30 p.m. EST/ 9:30 PST MarketWatch’s Editor and Columnist Jonathan Burton will chat with Tod Cohen (Vice President & Deputy General Counsel, Global Government Relations). Want to participate? Join the conversation by following @MKTWBurton, @TodCohen and #MWChat; and stay up-to-date by following @MarketWatch, @eBayInc and @eBayGR.Don’t forget to use the #MWChat hashtag during the chat so your contributions can be heard!