Half of all the items purchased on Amazon come from small and medium-sized businesses (SMBs), Amazon noted in its first Small Business Impact Report. The company also said in an announcement that SMBs have been on Amazon’s platform for more than 20 years.
Amazon’s CEO of Worldwide Consumer Jeff Wilke said, “Amazon first invited small businesses to sell on Amazon nearly two decades ago, and today small businesses and entrepreneurs are a vital part of Amazon’s continued growth and commitment to customers. We’re excited to share more about these entrepreneurs and their success in our inaugural Amazon Small Business Impact Report.”
The company said that millions of SMBs throughout the world are selling on Amazon and more than a million of those businesses are based in the U.S. Additionally, SMBs selling on Amazon come from all 50 states and more than 130 countries
In terms of revenue, Amazon said that over 20,000 SMBs on Amazon took in more than $1 million in sales in 2017. And, in terms of jobs, Amazon estimates that SMBs selling on Amazon have created more than 900,000 jobs worldwide. Amazon also reported that it lent more than $1 billion to U.S-based SMBs through the Amazon Lending Program in 2017.
Ohio-based Vintage Book Art Co. is one of the SMBs on Amazon’s platform. The company’s founder, Chris Guiher, said he’s seen rapid growth through Amazon.
“I’ve been selling my handmade prints on Amazon since the launch of Amazon Handmade in 2015,” Guiher said in the announcement. “Using Fulfillment by Amazon, I’ve been able to focus on creating products, growing my business by 500 percent in just three years, while Amazon handles the order fulfillment.”
Amazon invested billions in infrastructure and technology to serve SMBs in 2017, according to the announcement. In addition, Amazon noted that it has developed technology to serve authors and developers, such as Kindle Direct Publishing and Amazon Web Services.