Today in Global Small Business: Globalization is a Fact

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

• The Indiana Economic Development Corporation (IEDC) launched the Indiana State Trade and Export Promotion (IN-STEP) program to develop and expand export opportunities throughout the state, assisting Indiana small businesses with identifying, marketing and selling Hoosier-made goods in international markets. 
• According to a Small Business Trends article, small businesses are less likely to expand sales across borders (ouch ... must not be focusing on e-commerce).
• Quote of the week: “Globalization is a fact, because of technology, because of an integrated global supply chain, because of changes in transportation.  And we're not going to be able to build a wall around that." – Barack Obama
• US is No.1 country for UK small businesses to trade with over next three years.
• How to mitigate external risks when running a small business.
• E-commerce trends to watch in 2020.

Why Brexit Isn't the Biggest Concern for UK Small Business Owners

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In the UK, who are you going to call when business gets tough (and don't think Ghostbusters!)?  We're not talking about about anxiety caused by losing one big customer; rather, SMEs are more concerned with cash flow problems and tough competition from emerging markets.

According to C2FO Working Capital Outlook Survey 2016:

The majority of SMEs (55 per cent) find cash flow as the biggest obstacle for business growth and more than 40 per cent indicate an increase in working capital needs compared to last year. 

The survey examines the preferences of more than 1,800 SMEs in the UK, US, Germany, France and Italy for improving working capital efficiency, examining trends associated with economic and political factors, financing, working capital deployment and supplier-buyer relationships.

Read more:  Tough competition, alternative financing, higher interest rates