Chairman Williams: “Pathway to Capital: Streaming Success: Small Businesses in the Age of Digital Influence”

WASHINGTON, D.C. - Today, the House Committee on Small Business is holding a hearing titled "Streaming Success: Small Businesses in the Age of Digital Influence."

Chairman Roger Williams' opening statement as prepared for delivery:

Welcome to today's hearing titled Streaming Success: Small Business in the Age of Digital Influence.

Today, we will examine one of the fastest-growing sectors of our economy: content creation. While some may think of content creators only as online personalities, they really are a new generation of entrepreneurs taking risks and navigating the rapidly growing industry.

Content creators are more than just entertainers; they are small business owners, entrepreneurs, and job creators. They have transformed digital influence into sustainable careers by launching product lines, providing education, and creating loyal communities around everything from sports to law.

In fact, more than 1.5 million Americans now earn a full-time living as creators. Americans are building small businesses through platforms like YouTube.

YouTube itself contributes 55 billion dollars and half a million jobs to the American economy. Globally, this sector is already valued at over 250 billion dollars and is projected to drive 2 trillion dollars in social commerce by 2026.

The impact of this economy goes far beyond the creators themselves. A single successful creator fuels jobs for editors, designers, video producers, product manufacturers, and countless other small businesses. This "spiderweb effect" shows that content creators aren't just building brands but powering an entire ecosystem of small business growth.

But as with any small business, they face real challenges. Unique tax situations, unpredictable revenue streams, and costly intellectual property protections create barriers for these small business owners.

Like this Committee has seen too often, red tape makes it difficult for these entrepreneurs.

The creator economy is a prime example of the American entrepreneurial spirit. Creators are innovative, fiercely competitive, and contribute greatly to America's economy.

By reducing barriers and ensuring the government does not stand in the way, we can ensure that these small businesses have the freedom to thrive and grow in a digital economy.

I look forward to today's discussion.

I now recognize the distinguished ranking member for her opening remarks.

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