Don't Ever, Ever, Ever Bribe Foreign Officials to Obtain Lucrative Business Contracts

©iStock/Yumi mini

For bribing foreign officials to obtain lucrative business contracts, a global financial institution, namely Goldman Sachs, and its Malaysian subsidiary have agreed to pay more than $2.9 billion in criminal fines, civil penalties, and disgorgement.  This is according to a Department of Justice (DOJ) press release report. 

Here's the thing:  A DOJ official said this represents the largest monetary penalty ever paid to the U.S. in a corporate criminal foreign bribery resolution.

Don't ever, ever, ever bribe foreign officials to obtain lucrative business contracts.  I write about this in my book, Exporting:  The Definitive Guide to Selling Abroad Profitably.  No ands, ifs or buts on this deal.

Learn more about the law firm who reported this case and discover other companies and countries that are involved in bribery cases.

Toolkit Kiosk Helps SMEs Go Global

iStock/Thinkstock

SMEs got a boost recently when the Small and Medium Enterprise Corp Malaysia (SME Corp) unveiled the first of its kind SME Toolkit kiosk in the country aimed at helping SMEs go global.

The kiosk, which is located at SME Corp's office in Menara Matrade, also helps them leverage on the toolkit to enhance their business by reducing their operational cost. SMEs can gain access to the relevant information in the toolkit via the Internet and need not go to the kiosk personally to access it.

The SME Toolkit is an online program that enables entrepreneurs and small businesses to learn how to implement sustainable business management practices needed for growth in areas such as finance, accounting, international business, marketing, human resources or legal, at no cost.

Learn more here.

Posted by:  The Global Small Business Blog