Today in Global Small Business: Uncertainty Over the Strait of Hormuz

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

• The United States and Iranian militaries have offered conflicting accounts over whether the crucial waterway is open, which impacts business owners who import with continued supply chain shocks, skyrocketing freight and fuel costs, and complex contract disputes.
• We've got a problem ... Iranian state media said 6/21/26 that Trump’s comments violated the preliminary peace deal signed Wednesday, which bars the two sides from attacking or threatening each other.
• Trump threatens fresh attacks on Iran.
• Quote of the week:  “You close it, and you won’t have a country,” Trump said of the Strait of Hormuz (6/21/26)
• Deal or no deal?
• Trump warns Tehran "we will take over your country if the Strait of Hormuz is closed."

Note:  The Global Small Business Blog has been in operation since 2004 and is ranked number one in the world for entrepreneurs and small businesses interested in going global.  As of May, 2026, we average between 700,000-900,000 readers a month.  Thank you for your engagement! 

Moving Factories From China to Elsewhere

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A trade truce between the United States and China has calmed nerves, but it won’t stop the broader movement of companies to countries like Vietnam.

When President Trump started a trade war with China during his first term, Simon Lichtenberg decided to ride it out. He owned factories making leather sofas in China since the 1990s and figured the two sides would resolve the dispute.

He doesn’t think that anymore. Mr. Lichtenberg invested around $20 million to move his factory for American clients to Vietnam this year. Now, not even the cease-fire Mr. Trump has reached with China has changed his outlook that deep-seated animosity between the countries has altered the economics of his business.

Read:  Why Factories Will Keep Looking for Alternatives to China

Is Global Trade Rewiring Without the United States?

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The fragmentation of the global trade system is leading to the rise of new trade coalitions and corridors, said economists in a joint IMD-Hinrich Foundation webinar. 

The webinar discussed three overriding questions:

• Question 1: What have we gained and what have we lost?
• Question 2: What strategies are being deployed by economies?
• Question 3: What policy dilemmas lie ahead?

Find out the answers here.

Note:  We've hit more than 442,000 monthly readers at the Global Small Business Blog!

Today in Global Small Business: The Global Small Business Blog Is Now Home to Pope Leo XIV

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

• Pope Leo XIV delivers his first Sunday blessing.  The Global Small Business Blog is now home to Pope Leo.  Added note:  Pope Leo grew up in Dolton, Illinois just a couple of miles from where I [Laurel Delaney] was born and raised, Riverdale, Illinois.  So one could say I now have a direct line to the Pope. 
• How small businesses are handling tariffs (Forbes) and I [Laurel Delaney] am delighted to be included.
• We hope everyone had a very special Mother's Day.  Want to know where all the flowers came from?
• Quote of the week:  “I enjoy relaxing with friends and meeting a broad range of different people. Different people can greatly enhance our lives.” – Pope Leo XIV (2025)
• U.S. and China reach an important consensus.
• A rubber duck museum is migrating to Canada to stay afloat.  Tariff troubles.

Winding Down the Deadliest and Most Destructive Fighting Between Bitter Enemies

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Israel and Hamas agreed to a ceasefire deal to pause the devastating war in the Gaza Strip, the United States and Qatar said Wednesday, January 15, 2025, raising the possibility of winding down the deadliest and most destructive fighting between the bitter enemies.

Key detail:  Israeli Prime Minister Benjamin Netanyahu’s office did not confirm the deal, saying the final details were still being sorted out.

Is Canada Throwing Mexico Under the Bus?

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Trump recently threatened he would impose a blanket 25% tariff on both Canada and Mexico when he takes office in January unless they secured their shared borders with the US. 

That said, Canada is being accused of throwing Mexico under the bus amid a tariff threat ahead of President-elect Donald Trump's second term in the White House.

Canadian officials were quick to distance their country's border issues from those of Mexico, arguing that drug smuggling and unlawful crossings at the southern border were much higher, and that Mexico was serving as a "back door" in North America for Chinese investment.

Those remarks have not gone unnoticed in Mexico.

Why Is It Called Black Friday in the United States?

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The holiday shopping season is about to be in full swing upon the arrival of Black Friday today, with big sales ahead of Christmas marking the busiest shopping time of the year.  The day's nickname has stuck, marking a shift from one holiday to the next.

Hoping to entice equivocating consumers, retailers already have spent weeks bombarding customers with ads and early offers. Still, whether visiting stores or clicking on countless emails promising huge savings, tens of millions of U.S. shoppers are expected to spend money on Black Friday itself this year.

Industry forecasts estimate that 183.4 million people will shop in U.S. stores and online between Thanksgiving and Cyber Monday, according to the National Retail Federation and consumer research firm Prosper Insights & Analytics. Of that number, 131.7 million are expected to shop on Black Friday.

What's your plan?

Winning New Exports

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Whether you are based in Ireland or the United States, winning new exports comes in handy for newfound growth at your business.

In this case, the Going for Growth program, which Enterprise Ireland and KPMG support, is designed to help female entrepreneurs achieve their growth ambitions by growing their sales, creating additional employment, and winning new exports. 

Over the past 16 years, over 950 businesswomen have participated in this unique program.

Check it out here.

Trustbusters: Taking Aim at the Tech Industry

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While nations and tech firms have jockeyed for primacy for years, the latest actions by China, the European Commission and the United States have pushed the industry to a tipping point that could reshape how the global internet works and change the flows of digital data.

University of Michigan law professor and antitrust expert Daniel Crane says "it is unprecedented to see this kind of parallel struggle globally."

Read more about how a global tipping point for reining in tech has arrived.

Business As Unusual During the Global Pandemic

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As entrepreneurs deal with industry shutdowns, quarantines and fewer customers, “business as usual” takes on an entirely new meaning during the global pandemic.

Being a small business owner can often feel lonely, carrying the weight of the world, clients and employees on their shoulders. The U.S. Small Business Administration (SBA) and the Alaska Small Business Development Center (SBDC) want one message to ring clear for businesses figuring out a pivot plan: you are not alone.

Learn more how a pivot plan is critical for Alaska small business survival.

Tracking the Global Pandemic

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According to National Public Radio (NPR), more than 3 million people in the United States have tested positive for the coronavirus and more than 130,000 have died. Though growth in new cases slowed in late spring, by mid-June new cases began to trend upward nationally.

Explore the trend in new cases in your state to see whether cases are rising, falling or staying level. You can view the data via a heat map, a curve chart and a table with details on each state's case trends over the last three weeks. Or to see states' total cases and deaths on a map, click here.

There's a Lot More Opportunity Outside the United States

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When the going got tough for PureFit, a three-employee, just under $10 million Irvine, California-based company that makes nutrition bars, they took their business outside the United States. Why not?  There's plenty of room for growth outside your own borders.

Today, PureFit exports to 20 countries from Switzerland to Singapore. Foreign sales rose 53 percent in two years, accounting for a quarter of revenue and making up for domestic losses.

Find out how international business saved PureFit.  See how it can save or grow your business too.

Read more:  How hard is exporting?  Here's how one small Irvine business went global

Alert:  Watch Twitter's Hashtag:  #MakeTheWorldYourBusiness to see what's up at the 2nd Annual Global Small Business Forum!

Guess Who's No. 1 in the World On Entrepreneurship?

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No drum roll needed on this one.  The United States is the most entrepreneurial economy in the world, according to the 2014 Global Entrepreneurship and Development Index (GEDI).

The Global Entrepreneurship & Development Index was created to provide a more complete understanding of economic development by capturing the contextual nature of business formation, expansion, and growth.  It is based on analysis of comprehensive data sets from more than 120 countries that marshal information about the “3A’s” of development: entrepreneurial attitudes, aspirations, and activity.

Here's a look at the top 10, including scores:

No. 1:   United States - 82.5
No. 2:   Canada - 81.7
No. 3:   Australia - 77.9
No. 4:   Sweden - 73.7
No. 5:   Denmark - 72.5
No. 6:   Switzerland - 70.9
No. 7:   Taiwan - 69.5
No. 8:   Finland - 69.3
No. 9:   Netherlands - 69.0
No. 10: United Kingdom  - 68.6

Read more at:  GEDI Index | Global Entrepreneurship Development Institute

Is America Swapping Garbage for Computers with China?

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Clyde Prestowitz tells us a thing or two about what's wrong with America and why record numbers of Americans are telling the polsters that they're fed up.  His argument stems from how we trade, for example, with China.

Our major import is nearly $50 billion of computer equipment while our major export is about $8 billion of waste paper and scrap metal. Yes, that's right. We're swapping garbage for computers with China -- and lots of other countries as well. 

The Huffington Post is doing a fresh take on a three-year old article (must be a new book coming out by Prestowitz).

Read the entire article:  America Needs a New Globalization Game

Biggest Trading Nation in the World?

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According to Bloomberg, China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports.  China is considered the world's biggest exporter (2009) and the U.S. is the world's biggest importer.

U.S. exports and imports last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s total trade in 2012 amounted to $3.87 trillion. China had a $231.1 billion annual trade surplus while the U.S. had a trade deficit of $727.9 billion.

Read the entire article:  China Passes U.S. to Become World's Biggest Trading Nation

The United States of America: The 57th Presidential Inauguration

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President Obama sworn in to second term serving as President of the United States (1/21/13).

Learn more here.

Condolences to the United States and Victims' Families

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We express our deepest condolences to the families of the victims of this week's attack on the U.S. compound in Libya. Those victims are: Ambassador Chris Stevens, Glen A. Doherty, Sean Smith and Tyrone S. Woods.

No. 2 Most Difficult Market to Enter in the World?

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China is considered the No. 1 most difficult market to enter and the United States is No. 2 despite attractive growth opportunities.  That's according to a new global report by international legal practice Allen & Overy.

The United States ranks third globally for growth opportunities behind China and India, but second behind China for perceived barriers to entry.

 Read the entire report here.

Results run counter to the World Bank's Ease of Doing Business Rankings which shows the United States No. 4.  Once you break into the market, one could say it's easy to do business in USA?

America: Land of the Free, Home of the Brave

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Is the United States headed for a double-dip recession? Read what experts say here. And it's always provocative to obtain perspectives from country experts other than the United States.

Related:

America's economy:  Time for a double dip?

What's your opinion?

Brazil Wants Balance With the United States

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The United States wants to (re)strengthen its ties with Brazil and Brazil is all for it.  Recently, China overtook the United States as Brazil's biggest trading partner in 2009.  China became Chile's leading export market in 2007.

The United States imported $27 billion from Brazil in 2008, compared to China's $16 billion, according to the Inter-American Development Bank. 

Read more here about how the United States will most likely restructure its partnership with Latin America -- soon.