Why do I feel like the whole world is catching up to us on the importance of entrepreneurs and small businesses taking their business global?
Take this special report on America's economy entitled, "Export or Die," published by The Economist (3/31/10). It drives home the point that with demand dwindling or in some instances totally disappearing on a local level, American firms are looking abroad to grow their business.
A quick snippet from the report:
More American companies will have to look abroad. They are the least likely to export out of 15 big economies, according to the National Association of Manufacturers, a trade group. Matthew Slaughter of Dartmouth College notes that only 4% of all American firms and 15% of American manufacturers do any exporting at all. And 80% of America’s total trade is conducted by just 1% of firms that export or import. This does not mean there is something wrong with American firms.Let me take you back in time (2004), when I wrote a manifesto for ChangeThis.com -- that has been read more than 16,000 times by folks interested in international trade -- called "Global Guru: Shaking Things Up. Making Things Happen." One of my key quotes within it was:
"In the future, there will be two kinds of enterprises: those that go global and those that die." ~ Laurel Delaney
And then we went on to be interviewed May, 2006 for a feature in Business Strategies Magazine called, "Go Global or Die: Propelling Your Business into the Global Marketplace." This was an exciting moment because that particular edition had a smiling Thomas Friedman on the front cover (the most happening guy on the planet at the time due to his book "The World is Flat"). We were honored to be in such good company!
Once again I pose this question to everyone: Think we're on to something when it comes to taking a business global?
Anyway, let's get back to what we started with, The Economist's fresh, new piece: "Export or Die." Have a look.
It seems that going global is no longer an option but a necessity in our new world of business. Think we're wrong?
We feel so impassioned about this that we are launching a new online gift accessory store which will educate and empower small businesses to expand internationally. Watch for more news shortly but if you want to take a peek (work in progress): The Global Small Business Depot.
Chart credits: ISI Group and Economist Intelligence Unit
Posted by: The Global Small Business Blog