Small Business, Big Opportunities? TTIP and the EU’s SMEs
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Lauded as the backbone of both the EU and the U.S. economies, Small and Medium-Sized Enterprises (SMEs) have dominated the heated debate over the Transatlantic Trade and Investment Partnership (TTIP) raging across Europe in 2015. TTIP negotiators are convinced that small businesses will be the main beneficiaries of the deal. However, due to varying levels of internalisation and innovation across sectors and countries, the benefits are unlikely to be evenly distributed. SMEs with cutting-edge technologies are the most likely to reap profits from TTIP, and thus spurring innovation should be among the priorities of especially the Central and Eastern European countries, which often lag in terms of pioneering products.
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