"Rough Trade - The threat of TTIP to small businesses in the UK"
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Small businesses in the UK will be at risk of mass bankruptcy if the Transatlantic Trade and Investment Treaty (TTIP) is allowed to go through, according to a new report published today.
The report, Rough Trade: The threat of TTIP to small businesses in the UK, is published by the social justice campaign group War on Want as part of its ongoing fight to end the EU's unfair trade deals.
The publication coincides with the launch of a new Business Against TTIP platform in Britain, fronted by Entrepreneur of the Year Titus Sharpe. Thousands of firms have already signed up to parallel anti-TTIP websites in Germany, Austria and the Netherlands.
TTIP will grant US corporations greater access to the markets of Europe without having to comply with the same level of social and environmental regulation as in the EU, according to the report.
Official predictions calculate that this unfair competition will result in the loss of at least 680,000 jobs across Europe.
Mark Dearn, War on Want trade campaigner and co-author of the report, said: "TTIP offers small businesses nothing, but thousands could fold if US firms are allowed into our markets without having to abide by EU rules. TTIP is a bonanza for big business, but a nightmare for everyone else. The UK government needs to come clean about the damage that TTIP will do to ordinary people struggling to make a living."
Only a tiny minority (0.5%) of UK small businesses are involved in the export of goods to the US market, according to official figures, while most are more concerned with protecting their home markets.