Today in Global Small Business: International Growth Is Being Driven By a New Breed of Business

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

• International growth is being driven by a new breed of business: the emerging multinational.
• How the Shiga Bank is driving regional growth through global strategy, sustainability and SME support.
• How businesses can leverage Hong Kong’s advantages to expand overseas.
• Quote of the week:  “These guys have shut down the Straits of Hormuz.  This is what Iran is saying:  We will shut down the straits, no one can go through, no country in the world can go through unless we allow you to go through, and you have to pay us, but our ships can go through – meaning the Iranian ships – as much as they want.  That’s crazy.  Who would agree to that?" – Secretary of State Marco Rubio (5/5/26)
• Updates from the NY Times on the war in the Middle East.
• Iran asserts sole control of Hormuz, warns challenges will bring more violence.

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! 

When Your Home Market Weakens, Expand Overseas

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In an interview with the Financial Times, chief financial officer Eason Zhang said low-cost China-based retailer Miniso plans to open roughly 400 stores in China, but this year would be the first since at least 2019 that most of its new outlets were outside the country.

Minis will shift its focus of rapid expansion away from a domestic market – China – plagued by weak consumption.  Further, the falling cost of goods produced in China’s factories is also making them more competitive abroad.

Read the entire article here.

Today in Global Small Business: What the World Needs Now Is Love Sweet Love

©2023 Laurel J. Delaney.  All rights reserved.

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

• What the world needs now is love sweet love:  Dionne Warwick, 1966 (music video).
• A courage to change the world, Claudine Gay, Harvard's 30th president.
• U.S. averts government shutdown.
• Quote of the week: “Let us always meet each other with smile, for the smile is the beginning of love." – Mother Teresa
• iPhone 15 Pro owners are complaining about overheating problems.
• Costco planning to expand in U.S. and overseas over next 10 years.

Today in Global Small Business: Why Payment Diversity Matters When Transacting Business Across Borders

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

• How much of your business runs on WhatsApp?  You could be missing something.  
• Quote of the week: “There is no one that will make a next for you unless you do it for yourself.”— Miguel Cervantes, who plays Alexander Hamilton, in "Hamilton," Chicago
• Western Union has no gone away.  They are still considered a global leader in cross-border, cross-currency money movement.
• Small businesses involved in international trade see US protectionism and global economic slowdown as greater threats than no-deal Brexit.
• Why payment diversity matters when transacting business across borders.
• Are you ready to expand your business overseas?  Find out.

Protect Your Business As You Expand Internationally

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Expanding your business overseas is an arduous process and involves careful consideration, planning, research, and execution. There are many factors to consider when looking at entering a new market because with the great opportunity for growth comes significant risks as well.

If you have been looking at other potential markets or are even considering taking the plunge into the international market here are some key tips to consider before and throughout the transition into a new market.

The Intuit Quickbook Interview: Why Small Businesses Are Poised To Expand Big Time Overseas

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Below I discuss seven questions with Suzanne Kearns for Intuit Quickbooks:

1. How much in U.S. goods gets exported each year, and has that figure increased in recent years?
2. Are there indicators that show when a small business is ready for global trade?
3. How should business owners determine which markets to expand in?
4. What are some things business owners can do to attract foreign buyers to their website?
5. How should business owners handle foreign currency transactions?
6. What should small business owners know about shipping products overseas?
7. Where can business owners learn about customs duties and foreign taxes?

Read the interview: Can Your Small Business Expand to a Global Market?

Today in Global Small Business: How America's Big Cities Have Prospered Under Existing Free-Trade Accords

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

• How pro-trade policies could create 10 million new high-paying trade-connected jobs in the U.S. over the next decade.
• Why trade clearly has the potential to create jobs.
• How America's big cities have prospered under existing free-trade accords.
• What country would you pick to expand overseas and why?
• How do you know when it's time to go global?
• How global flows are creating new degrees of connectedness among economies.

To Go Global, What's Your First Country to Enter and Why?

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I've been a member of LinkedIn for a number of years and one group out of many that I joined is International Trade Network.  Recently, member Bill Elmer posted a question to the group:  If you were to expand overseas, which country would be your first choice and why?

The article below highlights twelve of the answers. I have intentionally left out the members’ name attributed to a comment to protect their interests. If you would like to review the more than 225 comments to date, I highly recommend you join the group; I’ll see you there.

Read:  If you were to expand overseas, which country would be your first choice and why?