Today in Global Small Business: What the World Needs Now Is Love Sweet Love

©2023 Laurel J. Delaney.  All rights reserved.

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

• What the world needs now is love sweet love:  Dionne Warwick, 1966 (music video).
• A courage to change the world, Claudine Gay, Harvard's 30th president.
• U.S. averts government shutdown.
• Quote of the week: “Let us always meet each other with smile, for the smile is the beginning of love." – Mother Teresa
• iPhone 15 Pro owners are complaining about overheating problems.
• Costco planning to expand in U.S. and overseas over next 10 years.

Treasure Chest of Living

©2023 Laurel J. Delaney. All rights reserved.

"The home should be the treasure chest of living." – Le Corbusier

Navigating E-Commerce on a Global Scale

©iStock/NVS

In this interview with Boris Rütten, head of global ecommerce at CPG giant Henkel, he discusses the ever-changing landscape of global ecommerce, emphasizing the need for continuous adaptation and staying attuned to market trends in order to achieve sustainable growth.

Three (3) key takeaways:

1. Establishing successful partnerships in business requires a collaborative approach.
2. Staying vigilant and adaptable to market trends is essential for sustained growth.
3. Customizing strategies according to market-specific needs is key to thriving globally.

8th Annual Global Small Business Forum 10/20/23

©2023 Global TradeSource, Ltd.  All rights reserved.

🌍 🌎 🌏 Let's take on the world 10/20/23! 🌍 🌎 🌏 

Registration is OPEN for our 8th Annual Global Small Business Forum (https://bit.ly/3PyjTv0) brought to you by lead sponsor Associated Bank and hosted by Foley Lardner.  Full disclosure:  I [Laurel Delaney] serve as the Director for the Forum.  We can't wait to see you Friday, October 20 from 8:00 AM CT – 11:30 AM CT.  Fans, supporters and global enthusiast have already signed up – because we are a sure thing – and 3 companies have secured vendor tables. Grab your ticket before we reach maximum capacity.

The theme this year is: Navigate Turbulence in the Global Marketplace (#navigateturbulenceintheglobalmarketplace).

Representation will be from all over the world due to the hybrid approach (option to attend in person #Chicago or remotely). We cherish diversity of thought and a rich exchange of information and that we guarantee you will experience. 

Associated Bank is our lead (Gold) sponsor. We thank them for their continued support.

Foley & Lardner LLP provides innovative legal services to businesses and is the host for the program – grateful to their support as well.

  

Now to the speakers, the people who will make our event rock! The following speakers have an amazing background in international trade, some are even #export-award winners:

• Bill McHenry, President, Widgeteer, Inc.
• Angie Kappel, VP Foreign Exchange, Capital Markets, Associated Bank
• Cathy Koch, Founder and CEO, K-Tec Systems
• Tom Dustman, International Sales Director, Sunnen Products Company
• Ellen Wheeler, Partner and Litigation Attorney, Foley & Lardner LLP
• Lori Novak, VP Foreign Exchange, Capital Markets, Associated Bank
• Ahmad Murrar, Litigation Associate, Foley & Lardner LLP (Moderator)
• Susan Walters-Flood, Chief Operating Officer, The Planting Hope Company
• Donald J. Lloyd, Senior VP, Manager: Capital Markets – Foreign Exchange, Rate Swaps and Commodity Derivatives, Associated Bank (Moderator)
• Lu Holter, Owner, Croix Valley Foods
• Richard Paullin, Executive Director, ITAGC
• Marc Schulman, President, Eli's Cheesecake Company

Topics covered:

–  How to get paid and avoid risks associated with foreign exchange fluctuations?

–  The value of EXIM bank financing.

–  What grants are available to businesses for international expansion?

–  The ins and outs to sourcing and importing.

–  Which overseas markets are right for you and how to figure it out?

–  Strategies for ingredient protection on food products.

–  Best practices in the area of post-pandemic recovery.

–  What does Made in U.S.A. mean to the world?

–  How to find customers and ship products worldwide.

–  What's involved to export foods products (e.g., labelling and regulatory issues)?

–  Strategies for working effectively across different cultures to form productive relationships with diverse clients.

Visit the website for more details and to register: https://bit.ly/3PyjTv0.

Our forum is known for attracting and featuring business owners who are #exporting or are about to #goglobal, incredible networking, and the exciting raffle of prizes at the end.  The prizes alone draw people to the event 😂!

Can't wait to connect with you in October 20th!  Together, let's take on the world!

Note to our readers:  Thanks to your readership, we have surpassed 150K views to our blog in September!

EXIM Bank Opens Up New Opportunities for Global Traders

©iStock/Iryna Imago

Archana Sharma discovered EXIM bank at a trade show and it opened up new opportunities for her company [that is not mentioned in the article below].  I believe it is:  AKAS – EXIM's Exporter of the Year in 2021. 

Back in her office, “I [Sharma] said, Hey, we can get credit insurance for exporting, so you know what? Next time let's tell them to buy $15,000 worth instead of $5,000 because we're going to give them insurance. And that was a game changer for us.” That’s why she said, “EXIM has been a very important part of our export journey,” and advocates for them, including testifying on behalf of EXIM in Congress.

Read more about how EXIM Bank can be a game changer for businesses who desire to export.

What's the Risk Around Artificial Intelligence (AI)?

©iStock/antonbrand

The chorus of big names in tech who have weighed in on the question of risk around artificial intelligence now includes Bill Gates.

Here's a few fresh ideas from Gates in an article by Will Douglas Heaven for MIT Technology Review. 

Today in Global Small Business: Leveraging the IoT For Exponential Global Growth

©iStock/ipopba

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

• Global expansion offers businesses leveraging the Internet of Things (IoT) the potential for exponential global growth, enhanced market reach, and a broader customer base.
• Secretary Blinken announced New Zealand as the latest donor partner to join the Global Equality Fund (GEF), protecting human rights with a new international partner.
• Brands that are looking for long-term growth and success need to expand their brand internationally at some point.
• Quote of the week: “Like air and drinking water, being digital will be noticed only by its absence, not its presence." – Nicholas Negroponte
• Cultural differences can guide best practices when expanding internationally. It's up to company leaders to make sure their teams are well-prepared.
• Go global if you can beat local.

The Whole World Is a Garden

©2023 Laurel J. Delaney.  All rights reserved.

“If you look the right way, you can see that the whole world is a garden.” – Frances Hodgson Burnett

Claims That Globalization Is Dead Is Fundamentally Wrong

©iStock/mrjo2405

Everywhere we are seeing claims that “globalization is dead.” Such declarations are fundamentally misguided (wrong).  Globalization is changing.  That's about it. 

The system we are moving toward is more complicated than a reversion of global interconnection. In many cases, trade is simply being rerouted rather than shut down. Most commercial industries will remain open and global, but certain critical sectors will turn inward, toward localized supply chains.

And then there is AI.  See how all of this plays into the need to prioritize international collaboration and engender a new global mindset – one that aims to innovate responsibly and unleash human potential.

Leveraging AI in the Global Supply Chain

©iStock/metamorworks

Organizations are using AI not only to collect more data but to utilize that data to reduce cost while improving efficiency and resiliency. They’re betting on AI optimizing operations from the global scale to the last mile.

AI can take over some repetitive tasks that can be easily automated. But it doesn’t have intuition or common sense. With customers looking for more and more services, humans can take on those more complex tasks.

Learn more about how to leverage AI in the global supply chain.

Restoring Global Growth Will Be Challenging

©iStock/1st Step

The coming downturn is not inevitable, but restoring global growth will be extremely challenging.

The IMF’s World Economic Outlook and Global Financial Stability Report suggest a difficult road ahead, warning that “the fog around the world economic outlook has thickened.” The rapid succession of large interest-rate hikes by the U.S. Federal Reserve and other major central banks has caused public and private sector debts to increase to their highest levels in decades, enhancing the risk of financial instability. 

Can the current global economy avoid a lost decade?

Galvanizing Global Small Businesses Worldwide By Supporting Women and Young Entrepreneurs

©iStock/SeventyFour

Facing limited access to affordable finance, capacity-building support, partnership networks, and global markets, women and young entrepreneurs need help to overcome the numerous challenges that frequently stifle the growth of their businesses, confining many of them to informality or necessity entrepreneurship.

Learn more about how we can leave no one behind.