IJIMT 2015 Vol.6(4): 300-304 ISSN: 2010-0248
DOI: 10.7763/IJIMT.2015.V6.619

ASEAN Entrepreneurs Facing Two Major External Impacts: Envisaging Opportunities or Challenges?

Diane J. Fulton, Thomas W. Garsombke, and Richard A. Fulton
Abstract— The aims of this paper are to examine two major emerging trends: 1) the adoption of a new regional free trade agreement and 2) the creation of a formulary apportionment strategy. Through the methods of content analysis, comprehensive literature review and examination of expert opinions, the authors found the impact of implementing one of the Big Three RFTAs (i.e. TPP - Trans-Pacific Partnership, RCEP - Regional Comprehensive Economic Partnership, and FTAAP-21 – Free Trade Area of the Asia-Pacific) will be a significant increase in the revenues and opportunities for ASEAN entrepreneurs, particularly those who are more proactive in expanding to global markets. Similarly, results of a new formulary apportionment approach reveal that it is most beneficial as a regional strategy for ASEAN business leaders to show transparency and to stabilize taxes. In conclusion, changes in adoption of a new regional free trade agreement and a regional formulary apportionment strategy can help propel ASEAN entrepreneurs financially, economically, and globally by creating a more transparent, proactive and opportunity-oriented business environment for the region.

Index Terms— Entrepreneurs, formulary apportionment, technology, trade agreements.

Diane Fulton and Thomas W. Garsombke are with Clayton State University, USA (e-mail: DianeFulton@clayton.edu, tgarsombke@clayton.edu).
Richard A. Fulton is with Troy University, USA (e-mail: rfulton33574@troy.edu).

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Cite: Diane J. Fulton, Thomas W. Garsombke, and Richard A. Fulton, " ASEAN Entrepreneurs Facing Two Major External Impacts: Envisaging Opportunities or Challenges?," International Journal of Innovation, Management and Technology vol. 6, no. 4, pp. 300-304, 2015.

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