The EU-South Korea free trade agreement (FTA) takes effect on July 1, and the Colombia-Canada FTA follows shortly in August. These trade agreements between other countries are creating a competitive disadvantage for US a starting small business in the global market. This fact has put pressure on the US government to negotiate their own FTAs with Panama, Colombia and South Korea, but progress has been slowed by disagreements.

Because US small businesses are already facing higher energy costs and increased federal regulation, coupled with potential tax increases to come, the last thing they need is more uncertainty on FTAs to contend with. When done well, FTAs can help to lower trade barriers and open new markets for small businesses to boost their exports. More exports will help the entire economy to expand and create new jobs, with statistics showing that for every $1 billion in US exports an average of 6,000 jobs are created.