Women Entrepreneurs Are On the Rise Globally

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Chicago-based nonprofit Women Entrepreneurs Grow Global® knows this better than any organization on the planet:  Women entrepreneurs are on the rise globally.  But did you know the following?

Historically, Africa has led the world in terms of numbers of women business owners, with countries like Uganda and Ghana – leading the way. Recently the MENA region has also been taking important strides forward with Saudi Arabia being a key example where more women are engaged in entrepreneurial activity than men.

Women the world over are now ever-more confident, and optimistic about launching their businesses and contributing to the economy.  Addressing the specific constraints – financing, for instance – facing women entrepreneurs is critical in unleashing their economic potential and empowers women to be a force for growth – powering the path of sustainable economic recovery.

Say "Hello" to a New Way to Heal... and Export: Featuring Cast21(wegginar® 9/28/22)

©2022 Women Entrepreneurs Grow Global®.  All rights reserved.

Did you know?

• International sales may actually be easier than domestic sales?
• How to use your local, regional, federal and industry resources to assist you with international expansion efforts?
• Who to call when it comes to export credit?

All of the above and more will be addressed by two rock stars who will be presenting a wegginar® tomorrow entitled, "Say “Hello” to a New Way to Heal… and Export: Featuring Cast21," 9/28 at 11AM CT (free of charge thanks to generous sponsors as noted in the graphic).

The presenters are Ursula Wegrzynowicz, Business Development Specialist at EXIM Bank and Ashley Moy, Co-founder at Cast 21.

If you are running a domestic enterprise and are thinking about exporting, this wegginar is for you.  Exporting can be lucrative for all sized businesses.  On average, sales grow faster, profits increase, more jobs are created, and employees earn more than in non-exporting firms. 

To learn more about the fabulous wegginar and to register (n/c), visit https://bit.ly/wegginar.  See you there!

Today in Global Small Business: Global Ocean Freighters Want to Take On Flying Goods Next

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

• The state of shipping includes ocean freighters wanting to fly their goods, too.
• Why having a global TMS is critical to a supply chain transformation.
• Quote of the week: “I never predict freight rates; nobody can do that.”— Søren Skou
• Go carbon neutral on Passport Shipping for 12 months.
• How to choose the right e-commerce platform to help your business grow.
• Import duty calculator.

Mellow Time

©2022 Laurel J. Delaney.  All rights reserved.

"Autumn's the mellow time." – William Allingham

Don't Ask Why, Ask Why Not? – When Going Global

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The U.S. Small Business Administration estimates nearly 96% of the world’s consumers live outside the United States, and two-thirds of the world’s purchasing power is held in foreign countries. Yet only 3% of the U.S.’s small businesses export goods or services. For many U.S.-based entrepreneurs and SMBs, this is a blind spot.

For SMBs, tapping significant growth opportunities internationally isn't as difficult as it once was.

Here are the top three questions small businesses should contemplate on their journey into international commerce and how leaning into digitalization can provide much-needed answers. 

Why Is Culture So Important?

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Dutch social psychologist Geert Hofstede did a pioneering study of cultures across modern nations. One of his big questions is:  Why is culture so important?  His website says:

Do we need to bother about culture? Every visitor of this site has her or his unique personality, history, and interest. At the same time, we share our human nature. We are group animals. We use language and empathy, and practice collaboration and inter-group competition. The unwritten rules of how we do these things differ from one human group to another. “Culture” is how we call these unwritten rules about how to be a good member of the group.

To know more about Hofstede, see his biography.  Better yet, see the online exhibition about his life and work.  Oh, and check out his books – truly an international scholar on this topic.

How Culture Affects Communication Styles

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For Professor Michele Gelfand, it all comes down to culture. As a cross-cultural psychologist, Gelfand is fascinated by social environments and their effects on human behavior, particularly, how strictly people adhere to social norms.

In this episode (podcast with full transcript), Michele Gelfand explains why social norms are the glue that keeps cultures together.

Bingo! New Mexico Business Owners Have Access to $25 Million in SBA Loans

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The nonprofit, state-launched New Mexico Small Business Investment Corp. has a new RBC Impact Fund that will target small businesses with annual revenue up to $7.5 million and less than 500 employees. The loans would be in amounts from $150,000 to $5 million.

For small business New Mexico business owners, another $25 million in Small Business Administration loans is now available to New Mexico small businesses unable to secure traditional bank loans.

The NMSBIC funding is available to any SBA loan lender in New Mexico, but the funding primarily will go to DreamSpring, Lendistr and Capital Impact Partners, which are all Community Development Financial Institution lenders that focus on lending to underserved markets.

Learn more on how New Mexico small businesses can tap into $25 million in SBA loans. 

Today in Global Small Business: Bluedog Named Crain's #1 Best Place to Work!

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

• Michelle Hayward, founder and CEO of Chicago-based Certified B-Corporation Bluedog Design, wins Best Place to Work by Crain's Chicago Business 2022.  Second year in a row!
• Why you should be on TikTok.  (wegg® is.)
• The global economy, led by the Western world, looks pretty broken, does it not?  A lot is due to the war in Ukraine (shame on Russia).
• Quote of the week: "Each employee has a voice. They have control, and we support them in their growth and we support each other. We foster a culture where there is a sense of belonging. From our research, belonging is why people choose to stay with a company. We just really believe that people are the No. 1 aspect." – Michelle Hayward, founder and CEO, Bluedog Design, #1 Best Place To Work winner 2021 and 2022
• Maybe the US is in a recession but global small businesses forge on.
• Omotola Akinbiyi, founder of Chicago-based bon femmes, discusses on the How She Went Global® podcast how she set up her ecommerce store, why she wanted to conduct business worldwide, and how she is making an impact with female creatives.

Going Overboard

©2022 Laurel J. Delaney.  All rights reserved.

"The capacity for going overboard is a requisite for a full grown mind." – Dawn Powell

Let's Make a Deal Freight Rail Companies!

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Early on the morning of Thursday, September 15, 2022, freight rail companies and unions reached a tentative agreement to avoid a strike that could have begun on Friday, September 16, 2022. The agreement now heads to union members for a ratification vote, a process that could take a few weeks. Workers have agreed not to strike while the vote is tallied.

The deal ended an impasse between the rail industry and tens of thousands of workers across the country, averting a shutdown of a critical network that could have made it virtually impossible to transport the vast numbers of products — from oil to grain — that are carried on trains in the United States.

As The New York Times article says, "rail freight is the centerpiece of the global supply chain, which has already been disrupted by the pandemic, with cargo ships, trains and trucks facing continued difficulties transporting goods. A strike would slow down the circulation of goods within the United States and with overseas trade allies."

What's the One Thing You Need to Remember Before You Go Global?

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First, read this – that is if you want to launch globally and profitably.  Next, if you are like creative agencies all over the world, they are looking for stable horizontal growth in tough economic times – both in the traditional way with a new office and big local hires, and in ways enabled by our infamous new normal, with satellite presences and remote workers.  This can be accomplished by way of breaking into new markets, outside one's own backyard.

At a recent roundtable with The Drum Network’s New York chapter, they gathered some of the European independents and groups expanding into the US alongside some North American stalwarts to ask:  how do you get global expansion right in 2022?

Find out.