The President has been attacking Amazon over the last week or so on Twitter, but the online sales giant may not be as bad for the economy as some would have you believe.
In a recent survey 68% of small business owners said Amazon has actually helped with sales. Patrick Jankowski of the Greater Houston Partnership explains why Houston's small businesses get this boost.
“When you shop at Amazon some of the products that you buy are actually filled by a third party,” Jankowski said.
In many cases those third parties are actually small businesses. Lone Star College economist Hank Lewis says it's a win-win.
“They pay a percentage, but it’s making a difference for a number of small businesses. They are attracting customers from all over the world that they would not normally attract,” Lewis explained.
And Jankowski says there's enough money to be made in Houston for everybody.
“Amazon could make three billion dollars in Houston, and that would still leave more than 130 billion dollars of opportunity out there in Houston for other retailers,” Jankowski explained.
The survey also showed 43% of small businesses that sell online experienced 'significant' growth in their bottom line.