Thursday, January 15, 2009

Get Tough On Trade

The news is everywhere on how trade is declining sharply around the world. And it's hitting big and small companies. According to a WSJ article (1/14/09):
Falling trade also is cutting the U.S. trade deficit because imports are falling more than exports -- in November, U.S. imports fell 12 percent from the previous month compared with 5.8 percent for exports. The deficit shrunk to $40.4 billion from $56.7 billion in October; it was the smallest deficit in five years. That in turn helps raise estimates of U.S. fourth-quarter gross domestic product.
Despite the grim news, this is not a time for you to hunker down. It's a time to get tough, develop your global strategy and run a lean, mean global business machine. Check in here periodically for tips, resources and articles to keep you going and to learn as much as you can about expanding your business internationally. It can be done -- but you must stay focused. Visit here for some good advice too.

When the sun breaks through the dark economic clouds, you will be poised to take on the world.

1 comment:

Robert Rogers said...

Also, the steeper decline in imports v. exports means that US companies are buying less than their counterparts overseas. All the more reason to come up with an international strategy for your business.