Today in Global Small Business: End-to-End Platform for Cross-Border Trade

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

• Check out the end-to-end platform for cross-border trade – 1Export, winner of the SoCal 2020 Global Pitch (congrats Anna Melissa Nava!).
• The ins and outs to export financing.
• Quote of the week:  “Congress shall make no law abridging the freedom of production and trade...” ― Ayn Rand, Atlas Shrugged
• Hong Kong exports are facing an uncertain future after Washington announced this past summer that all Hong Kong imports must be labeled as "Made in China" in response to Beijing's imposition of a national security law in the city.
• Biden and Brexit.
• Any place in the world experiencing over tourism right now?  Surprisingly, yes.

Doing Business in India with Nixon Peabody's Help

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Join Nixon Peabody LLP, SFAsia, and Singhania & Partners on November 22 from 10:30 a.m.-1:00 p.m. at the Embarcadero Center, San Francisco, CA as they explore opportunities in India for local companies and investors and the strategies to succeed for doing business in this vibrant economy.

India is the world’s sixth largest economy, and still growing quickly. A relatively young country (median age of 28) with a burgeoning middle class. Plus, India is rapidly digitalizing. The bonds between the Bay Area and India are strong—creating opportunities for both investment and trade. A recent Bay Area Council Economic Institute Report concluded, “Sustained economic growth and national strategies that push digitization across a range of sectors and services are creating unique synergies with the Bay Area that open the door to new opportunities, as Bay Area companies expand their global footprint and diversify their market presence in Asia.”

For more information and to register, visit:  Innovative India: Cross-Border Trade and Investment Opportunities

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.

Boosting International Trade for Small Businesses

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The World Trade Organization (WTO) says that helping small enterprises enter global markets "will go a long way to making the trading system more inclusive and improving the lives of individuals and communities around the world.”

WTO seeks to open trade opportunities for small firms.  Some of the biggest challenges for them on international trade include but are not limited to:

• Lack of appropriate information and skills
• Lack of trade finance
• Burdensome customs procedures
• High fixed costs

Read more about how the World Trade Organization wants to raise the voice of small enterprises in trade and enable them to prosper across borders.

In APEC Region, Services Make Up 67% of GDP

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To widen the door for small business participation in cross-border trade and usher in improved job creation, growth and quality of life for people across the region, greater liberalization of the services sectors in Asia-Pacific markets is needed.  That's according to senior officials and private sector representatives at the APEC conference in the Philippines.

“Services make up approximately 67% of GDP in the APEC region,” says Ambassador Laura Q Del Rosario, Philippine Undersecretary of Foreign Affairs and 2015 Chair of the APEC Senior Officials’ Meeting. “Efforts to improve trade and investment in services will play a vital role in inclusive growth by creating new jobs and allowing people from all parts of the economy to participate in the economic and social mainstream.” 

Learn more:  APEC poised to lower services barriers to lift Asia-Pac small businesses

What Is the Future of Online Shopping?

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UK-based Retail Gazette interviews James Roper, Chairman and Founder of IMRG.  Here's what he has to say about cross-border options available to retailers.  One of the questions he addresses is: What is the future of online shopping?

Read the entire interview:  Cross-border trade Q&A, James Roper, Chairman and Founder of IMRG

Some resources mentioned in the article that are worth a look:

• Postcode Anywhere (UK-based)
• Alibaba (China-based; name misspelled in the article)
• Rakuten (Japan-based)
• Zalando - (UK-based)
• Argos (UK-based)

Cross-Border Trade Poised to Grow for Small Businesses

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HSBC has set aside U.S. $1 billion in loans for small and medium-sized businesses that are expanding internationally (China, Brazil and Hong Kong, for example).  To pre-qualify, you must run an established business that has annual revenue between $3 million and $500 million, but may or may not have dipped their toes into the international markets.

Head of HSBC's U.S. Business Banking Mark Luppi says the following:

"Based on the research we've done, 27% of small businesses are doing some sort of cross-border [transaction].  We expect that to grow to 40% over the next 12 to 24 months."

Read entire article here.

Training Female Entrepreneurs on Cross Border Trade

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The Tanzania Women Chamber of Commerce (TWCC) has launched a project called “Enhancing women entrepreneur’s competitiveness and opportunities to benefit from regional and international trade."  The goal is to support Women in the Informal Cross Border Trade (WICBT) to meet market requirements.  The TWCC is implementing this project with supervision from the Small Industries Development Organisation (SIDO).

The program will provide the necessary support and guidance to help women in business flourish!

About TWCC:

The Tanzania Women Chamber of Commerce is an umbrella organization uniting sectoral business women associations, companies, and individuals who have agreed to form a united front to advocate, lobby and network for the well being of their businesses and prosperity of women entrepreneurs. Current membership stands at 6 associations and 20 companies; all together about 2000 members. 

Read all the news here.

Related helpful resources:

Women Entrepreneurs GROW Global

Enterprising Women 2012