Sunflower State News

In a recent discussion on AgriTalk, Dan Murray, the State Director for the National Federation of Independent Business (NFIB), addressed the challenges faced by small business owners. He emphasized that while small businesses collectively form the largest economy in the country, they lack the negotiating power of larger corporations.

“You have restaurants, retailers, Main Streets in Western Oklahoma and Kansas and Nebraska – they all hopefully work together in advocating for themselves. But they don’t have the negotiating power that the larger corporations do,” said Murray.

During his conversation with Davis Michaelsen, Murray expressed support for Senator Roger Marshall's Credit Card Competition Act. “We believe this is a fair marketplace disruption into the competition of these networks will provide some relief to small business owners," he stated. He argued that government intervention could foster additional competition in the market.

Murray further explained how credit card fees impact small businesses: “Ultimately these fees are paid by the end user. The small business owner can choose to eat the cost of that expense, which reduces their profit. They can build it into the cost of their goods and services. Or they can pass it along through a surcharge – but we believe competition will help to reduce it and provide savings to the end user.”

The proposed Credit Card Competition Act aims to introduce more competition into credit card processing by requiring companies to offer at least two networks on each card. This initiative seeks to alleviate some financial burdens on small businesses by potentially lowering swipe fees.

Murray has been vocal about these issues in various platforms, including an op-ed for The Emporia Gazette and an appearance on The Eagle in Hutchinson, highlighting how swipe fees significantly affect profit margins for small business owners.