What President Biden’s Executive Order On Competition Means For Small Businesses

President Biden’s Executive Order will decrease barriers to entering markets for small businesses

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At the signing of an Executive Order on July 9 to promote competition in the American economy, President Joe Biden stated, “The heart of American capitalism is a simple idea: open and fair competition—that means that if your companies want to win your business, they have to go out and they have to up their game; better prices and services; new ideas and products.” The Executive Order directs every agency to address corporate consolidation and remove barriers that hinder innovation. This order, which is intended to lower prices for consumers, increase wages, and promote faster economic growth, can give small businesses and aspiring entrepreneurs across the country a much needed level playing field.

As the Co-Chair of Small Business for America’s Future, Frank Knapp Jr., summarized, this Executive Order “is an effective first…

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