The Ways to Improve Competitiveness of Small and Medium Business in the USA

The main purpose of the research is to define the ways to improve the competitiveness of small and medium-size business in the USA. According to the results of the study, the following problems of competitiveness of small and medium-size business in the United States were identified: high cost of living, which reduces the purchasing power of the population; the complexity of obtaining access to capital; legislative difficulties for doing business; low threshold of annual income for classifying enterprises as small and medium-size businesses; the need to compete in broad markets, where large corporations have an advantage; high level of competition; the contradiction between the need to increase the level of investment in their products to maintain their competitiveness and the threshold of annual turnover of small and medium-size enterprises; the problem of developing new, innovative products in those areas that are priority for small-size business, due to the fact that the US market is oversaturated with all kinds of services and goods. To address these problems, it was suggested to apply the following measures: development of special benefits and preferences for small and medium-size business by those States with the highest cost of living; revision and expansion of public programs to support small and medium-size business; softening legislation on small and medium-size business, search for consensus at the federal level on the aspects of registration and opening new branches of the company in other States; increasing the threshold of annual income, which allows to classify the company as a small and medium-sized business with 7-25 million dollars up to 50 million dollars; improvement of antimonopoly legislation in order to equalize the competitive opportunities of small, medium and large enterprises in those industries that are most popular among small and medium-sized business; providing small and medium-sized businesses with additional benefits for exports.