Friday, May 29, 2015

Hitachi Plans to Derive More than Half Its Group Revenues from Overseas in 2015

©iStock/m_71
Hitachi, the nation’s largest maker of electric equipment and infrastructure systems is going global after painful reforms.  The company splurged on a pricey acquisition -- a railway vehicle and signal businesses of Italy’s Finmeccanica S.p.A., a deal estimated at over ¥250 billion.

This highlights Hitachi's accelerated shift in recent years toward global expansion.

Chairman and CEO Hiroaki Nakanishi, however, does not seem to be content, which is a good thing from the standpoint of continuing to drive results for Hitachi.
“We need to respond to a market that is getting all the more global or else we’ll end up going extinct,” he [Nakanishi] said in an interview in Las Vegas in late April on the sidelines of a corporate exhibition.
Read more:  Resurgent Hitachi goes global after painful reforms

Thursday, May 28, 2015

The Internet is a Driver of Global Digital Trade

©iStock/Alexaldo
Thomas O'Toole, for Bloomberg BNA, writes a thoughtful and important article, "Breaking Down Legal Barriers to Global Digital Trade."

First, a little background on O'Toole:
Thomas O'Toole joined BNA in 1988 and has been managing editor of Bloomberg BNA's Electronic Commerce & Law Report since its founding in 1996. He has a BA in Economics and English Literature from the University of Michigan and a JD from Wayne State University Law School. 
According to O'Toole's article, which references the U.S. International Trade Commission's 2014 report, U.S. businesses sold $935.2 billion in goods and services online in 2012, of which $222.9 was attributable to exports.

He goes on to say that "Digitally intensive companies become global players more quickly than traditional multinational companies, and they are significantly reliant on overseas markets for revenue and growth."

But that's not all.  According to eBay's Public Policy Lab, online platforms allow small businesses to serve overseas markets on a scale that is unmatched by traditional exporters

There's one thing for sure, the Internet is a driver of global digital trade.

Learn more here.

Wednesday, May 27, 2015

Stumped on Export/Import Procedures and Documentation?

©iStock/Wichai Leesawatwong
Whether you receive an international order by phone, in person at a trade show or via email, should you formalize the purchase and sale agreement in a written document?  Are preprinted forms from commercial stationers or available online forms worthwhile on your export/import activities?  Have you examined the contents thoroughly of a product you are about to import?

These and a hundred other items are discussed in the book “Export/Import Procedures and Documentation.”

Learn more here.

Tuesday, May 26, 2015

How to Achieve 70 percent of Your Sales from Overseas Markets

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Do you wish you were doing more business overseas?  Could markets exist for you in other countries? According to the Department of Commerce, more than 300,000 U.S. companies exported goods in 2013, and nearly 98 percent of those had fewer than 500 employees.

But is going global really worth all the trouble?

Inventor, Co-Founder and CEO Adam Xavier believed his UK-based RoadLoK motorcycle anti-theft immobilizer was exactly what the American riding public wanted. And he was right, to a point.
"It wasn't until 2008 that RoadLoK realized we could do much more business working with foreign regions in addition to our customers in the USA, but are we ever glad we finally did. Today, more than 70 percent of our sales come from overseas markets," says Xavier
Read the entire article:  Ready to Take Your Business Global?

Monday, May 25, 2015

Today in Global Small Business: Bad News For Egg Lovers Worldwide

©iStock/ValentynVolkov
What's affecting me, my clients, my colleagues and other global small business owners:

Saturday, May 23, 2015

Blossom in Nature

©2015 Laurel J. Delaney.  All rights reserved.
"Every flower is a soul blossoming in nature." Gerard De Nerval

Friday, May 22, 2015

Drafting a Contract in China? Choose Which Language Will Control

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How do you draft a clear contract to be understood by all parties involved?  That was the seminar that Ken Adams was going to give in Beijing and Shanghai.  In preparation, he turned to the experts at the China Law Blog, long a landmark on the blogosphere. Below is the link to the exchange Ken had with Steve Dickinson and Dan Harris helping behind the scenes.  I've been a big fan of Dan's prolific work in China law for business for almost a decade now.

The first interview question:
Q: What proportion of contracts between Chinese companies (or government agencies) and non-Chinese companies are in English? If the contracts are in English, is it mandatory that the parties enter into a Chinese-language version too? If so, which controls?
Read the entire interview:  Using English-Language Contract in China:  My Q&A with China Law Blog

Thursday, May 21, 2015

In APEC Region, Services Make Up 67% of GDP

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To widen the door for small business participation in cross-border trade and usher in improved job creation, growth and quality of life for people across the region, greater liberalization of the services sectors in Asia-Pacific markets is needed.  That's according to senior officials and private sector representatives at the APEC conference in the Philippines.
“Services make up approximately 67% of GDP in the APEC region,” says Ambassador Laura Q Del Rosario, Philippine Undersecretary of Foreign Affairs and 2015 Chair of the APEC Senior Officials’ Meeting. “Efforts to improve trade and investment in services will play a vital role in inclusive growth by creating new jobs and allowing people from all parts of the economy to participate in the economic and social mainstream.” 
Learn more:  APEC poised to lower services barriers to lift Asia-Pac small businesses

Wednesday, May 20, 2015

The Mighty U.S.-Japan Alliance Takes on the World

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The rebalance to Asia is the signature feature of the Obama administration’s foreign policy, with the Japanese alliance at its center.  For this reason alone the public release of the revised Guidelines for Japan-US Defense Cooperation are of importance.
They also spell out a broader functional purpose and larger conceptual frame of reference for the bilateral relationship, which adds to their significance. But what signals do the Guidelines send about the strategic relationship and its purpose?
The alliance is now global in scope.

Read more here.

Tuesday, May 19, 2015

Get Your Cross-Border Tax Education Fix: Attend the Global Tax Forum June 9th

©iStock/Marcoscisetti
Staying competitive in today's global business environment through international tax planning is not easy.  That's about to change.  Baker Tilly Virchow Krause, LLP is hosting a complimentary global tax forum that brings together international tax leaders from around the world to share their insights on top taxation issues facing cross-border business ventures.

Participants will learn:
  • US economic environment and global competitiveness
  • Tax considerations when doing business in China, Singapore, and India 
  • Corporate tax inversions and the latest update on OECD’s BEPS initiative
  • Investment climates in key foreign jurisdictions 
Other benefits of attending:

Participants will have the opportunity to meet privately with tax partners from foreign jurisdictions by registering for country-specific, closed-door sessions that interest them.  Plus, they earn CPE credits.

Who should attend?

The forum is relevant for CFOs, tax directors, vice presidents of tax, directors of international tax, international tax managers, and international tax professionals.

Event details:

Tuesday, June 09, 2015, 1:00 p.m. – 3:00 p.m. CST
Michigan Plaza Conference Center
205 N Michigan Avenue
Chicago, Illinois

To maximize the educational focus of the forum, participation is not open to business advisors or service providers.

To learn more and to register for the event (space is limited), visit:  Baker Tilly 2015 Global Tax Forum

Questions?  Contact Regis Merenick

Monday, May 18, 2015

Today in Global Small Business: How to Find a Job in China

©iStock/Pillin_Petunyia
What's affecting me, my clients, my colleagues and other global small business owners:

Saturday, May 16, 2015

i'm lovin' it

©2015 Laurel J. Delaney.  All rights reserved.
There have been many McDonald's advertising campaigns and slogans over the years, but "i'm lovin' it" is a favorite of mine because it focuses on an experience that anyone in the world can relate to.