Analyzing the Economic Opportunities for Small Businesses in Gansu Province’s Logistics and Trade Sectors Stemming from China’s Belt and Road Initiative

Abstract

The Belt and Road Initiative (BRI) has significantly transformed Gansu Province into a crucial logistics and trade hub, presenting substantial economic opportunities for small businesses in the region. This paper explores the historical development of logistics and trade in Gansu, the strategic importance of the province within the BRI, and the specific infrastructure projects that have been implemented. It further examines the economic opportunities created by the BRI for small businesses, including improved access to new markets and resources, opportunities for partnerships and collaborations, and case studies of successful businesses. Despite these opportunities, small businesses face several challenges and risks, such as financial constraints, regulatory complexities, logistical inefficiencies, political and economic instability, and environmental concerns. The paper concludes with policy recommendations aimed at addressing these challenges and enhancing the ability of small businesses to leverage the benefits of the BRI. By improving access to finance, simplifying regulatory processes, enhancing infrastructure and connectivity, fostering collaboration, investing in training, promoting sustainable practices, and strengthening market access, the government can create a supportive environment for small businesses, contributing to the overall economic development of Gansu Province.