Thursday, September 16, 2010

The World Has Changed

International Business Times reporter Hao Li writes, "Global Demand Shifting to Emerging Markets," about how the world has changed with more businesses looking to emerging markets for growth.

According to Ding Yifan, an economist from a Chinese think-tank (reported via Reuters), the U.S. would be the loser in a trade war with China partly because U.S. exporters would lose access to Chinese customers.

I was honored to speak with Mr. Li about how small businesses factor into the grand scheme of emerging market opportunities. Here are a couple of my quotes:
Laurel Delaney, president of GlobeTrade, said the lack of capital and education is indeed two main reasons that small businesses aren't exporting, so government export programs are probably on the right track.

Delaney said the Internet is another reason exporting is increasingly feasible for small businesses because it dramatically reduces the cost of contacting customers. She said the recent emergence of social media makes connecting with prospects globally even more realistic.

Moreover, U.S. businesses should keep in mind exporting doesn't only involve goods, but also services. For small businesses, services exports will become increasingly important, said Delaney.
Read the entire article here.

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