TPP Details Focus on Small Business Opportunity: “It’s about time,” says Advocate for Entrepreneurs

By at 5 November, 2015, 3:34 pm


Washington, D.C.The text of the Trans-Pacific Partnership (TPP) trade agreement has been released, and Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan said a cursory review of key chapters have kept small businesses and entrepreneurs in mind regarding the barriers, complexity, and uneven playing field they face when doing business in the global marketplace.

“I am pleased to see that TPP countries will be required to provide web-based tools, information and technical assistance to lessen the unknowns and ease the steps it takes for small businesses to access their markets,” said Kerrigan.

“Moreover, the other critical pieces of the text – eliminating tariffs, reducing regulatory complexity along with efforts to more quickly move goods and products across borders – help to ease the risks and costs of doing business abroad,” she added.

Chapter 24 of the TPP agreement specifically focuses on small to mid-size businesses. Kerrigan noted that other chapters such as those addressing regulatory cohesion, customs administration and trade facilitation, intellectual property, technical barriers to trade, investment, and of course the big segment on tariffs all matter to entrepreneurs and small businesses. The TPP agreement is the first deal to include a chapter focused on small businesses.

“It’s about time a trade agreement addressed issues and barriers encountered by entrepreneurs who are active in the global marketplace. Going global is not a simple undertaking. The TPP offers a tremendous opportunity for U.S.-based entrepreneurs. Getting all participating countries on board to ease market access for small businesses should boost participation. In turn, this will mean stronger small business growth and the creation of high-quality jobs,” added Kerrigan.

Like many others in Washington and throughout the nation, SBE Council staff will be reading the text of the agreement over the next several days. Trade Promotion Authority (TPA) legislation, supported by SBE Council, provides for that public review before Congress votes up-or-down on the deal.

SBE Council is a nonprofit, nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For nearly 25 years, SBE Council has worked to support policies and initiatives that strengthen the environment for startups and small business growth. Please visit: Follow: @SBECouncil.

CONTACT: Karen Kerrigan

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