Small Businesses in the WTO : Small Fish in a Big Pond or Globalization 3.0

Small businesses are the backbone of the economy in many countries. Small businesses are viewed as the source of entrepreneurship by creating new products that incorporate new ideas. Small businesses can create new jobs, new industries, and new innovation, which will increase economic growth. The existence of small businesses is considered an essential element of a healthy competitive market. Nowadays, small businesses are becoming a player in the new era of international trade and globalization. Small businesses are also encouraged to go global or expand their opportunities outside the country. Since international trade is regulated and controlled by the World Trade Organization (WTO), international small businesses are under the WTO system. However, interaction between small businesses and the WTO seems to be blurred and has not been addressed yet. This article will address the role and difficulties of small businesses in international trade. The article will discuss whether and how the WTO contributes to international small businesses. The article will examine whether the WTO rules should be reformed in order to respond to the new era of globalization and the growth of international small businesses. The article will also address how the new Trade Facilitation Agreement under the WTO affects small businesses