Today in Global Small Business: Remember and Honor

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

• Remember and honor:  Wishing you a meaningful and thoughtful Memorial Day.
• Triple Shot Reinvention will focus on three priorities: elevating the Starbucks brand; strengthening the company’s digital capabilities; and becoming truly global; customized with “two pumps” unlocking efficiency and reinvigorating partner culture.
• Marriott International, Inc. announced the company’s record year of global signings with 52 percent more organic rooms signed in 2023 than in 2022, as it continues to expand offerings for owners, franchisees, and guests.
• Asia-Pacific emerges as the top destination for expansion as CEOs look to generative AI to drive growth.
• Quote of the week:  "Starbucks has a role and a meaningful relationship with people that is not only about the coffee." – Howard Schultz
• Where do CEOs see global growth in 2024?
• 5 must have steps in your 2024 global expansion plan.

 

10 Asia-Pacific Companies Offer Game-changing Solutions to Difficult Problems

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The United States is a leader in every respect – take Walmart, Amazon, Exxon Mobil and Apple.  Yet, South Korea’s Seegene, for example, helped the world diagnose the novel coronavirus quickly and effectively. 

India’s MilkMantra allowed the country’s small-scale dairy farmers to bring their products to market, while ensuring quality control. And Australia’s ProAgni has cleaned up the food chain by developing antibiotic-free supplement for cattle and sheep. 

Read on for more of this year’s best in Asia-Pacific published by Fast Company.

Healthy Appetite for E-Commerce in the APAC Region

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According to a recent study released by PayPal and Ipsos, there is a healthy appetite for e-commerce in APAC (Asia-Pacific region), with 48 percent of consumers shopping cross-border in the last 12 months.

Ipsos recently released the 2018 PayPal Cross-Border Consumer Research, which investigates the online shopping habits of approximately 34,000 consumers in 31 countries [1]— including the Philippines. It reveals a growing cross-border e-commerce scene, with the US and China being the biggest markets in terms of online spend.

The study highlights three key findings:

1. Cross-border opportunities abound for Filipino merchants
2. Cosmetics are on the rise for APAC consumers
3. Security is a key driver of cross-border trade

Read more about how cross-border trade accelerates expansion opportunities for Filipino SMEs.

Access full report here.

Asia-Pacific Region Has Growth Potential in the Trade Service Sector

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In the Pacific Rim area, keeping trade and investment barriers in check and taking next steps to enable more people and businesses to take advantage will be an important determinant of future prosperity.

"There is still considerable potential in the Asia-Pacific for growth in sectors like services trade and small business participation in supply chains," he [APEC Secretariat Executive Director Dr. Alan Bollard] continued.

Read more:  Pacific Rim has growth potential for services trade and small businesses

Leveraging the Growing Internet Usage

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According to eMarketer, the Asia-Pacific region is projected to capture 33.4 percent share of global e-commerce sales by the end of 2015.  Embracing e-commerce will accelerate access to international markets, promote innovation, create jobs and expand customer reach for business owners.

“We need to leverage on the growing Internet usage, burgeoning middle class, and the increasing accessibility and affordability of technology to enable our micro, small, and medium enterprises to enter the global market. E-Commerce has evolved into a regular marketplace option for many buyers,” she [Doris Magsaysay-Ho, 2015 chairman of the Asia-Pacific Economic Cooperation (Apec) Business Advisory Council (Abac)] added.

Read more:  'Free and open trade should benefit small businesses'