Getting Global Expansion Right

©2024 Apress.  All rights reserved.

When is the right time to go global?  It's hard to determine.  

But what's easy is to expand too quickly or into the wrong markets. Nearly every company begins life in a single market, and determining when and how to expand internationally is a challenge every successful company must eventually address.

According to Forbes, the key to global success is simple in theory and complex in execution—to go global, you have to be local. 

Here are three keys to getting this right.  

Oh, one more thing.  If you haven't read this book (pictured – and a book I [Laurel Delaney] authored), do it now, because it provides international expansion strategies and tips that help individuals go from thinking about going global to creating, running and maintaining a successful global business.

Two Men Guilty of Illegally Exporting U.S. Electronics Used in Russian Weapons In Ukraine

©iStock/Dragon Claws

Two men – Nikolay Goltsev, 38, of Montreal, and Salimdzhon Nasriddinov, 53, of Brooklyn – have pleaded guilty to illegally exporting US electronics used in Russian weapons in Ukraine, the Justice Department said.

Goltsev and Nasriddinov face up to 20 years in prison for conspiring to commit export control violations, the department said in a statement.

"The defendants shipped millions of dollars of US electronics critical to the missiles and drones Russia uses to attack Ukraine, and they now face US prison time for their scheme," Deputy Attorney General Lisa Monaco said.

Read more here.

Some Like It Hot and So Does wegg® at Its Next wegginar® 11/1/23

©2023 Women Entrepreneurs Grow Global®.  All rights reserved.

We 🧡 Stacy Moritz, the owner of the Secret Aardvark Trading Company because she has a great sense of humor and knows a ton about exporting.  And her products are hot, too (they kick you in the mouth as her company claims)!  

We can't wait to hear her wegginar presentation on Wednesday, November 1, 2023 at 11 AM CT on: "Exporting: Is It Just a Way to Get Free Travel?" – https://bit.ly/45cTavP.

In her wegginar, you will learn whether exporting is just a way to get free travel 😉 and ...

• How to do your research for global exporting
• The importance of running and embracing the numbers – metrics matter!
• How to be agile in an ever-changing market 

Please join us! To learn more, connect with others, and grow your business to the next level via global expansion, register here:  https://bit.ly/45cTavP

See you there!

Powered by: Associated Bank, FedEx, Bluedog Design, 1706 Advisors, and Union Pacific 

U.S. SBA Awards Washington State a $1 Million STEP Grant to Fuel Exports

©iStock/aiisha5

The Washington State Department of Commerce again tops the list of states awarded funding from the U.S. Small Business Administration (SBA) to help state small businesses grow through exporting. Washington’s $1 million State Trade Expansion Program (STEP) grant is the largest awarded from a total $20 million to 49 states in this 11th year of the program.

Read on to learn more.

8th Annual Global Small Business Forum 10/20/23

©2023 Global TradeSource, Ltd.  All rights reserved.

🌍 🌎 🌏 Let's take on the world 10/20/23! 🌍 🌎 🌏 

Registration is OPEN for our 8th Annual Global Small Business Forum (https://bit.ly/3PyjTv0) brought to you by lead sponsor Associated Bank and hosted by Foley Lardner.  Full disclosure:  I [Laurel Delaney] serve as the Director for the Forum.  We can't wait to see you Friday, October 20 from 8:00 AM CT – 11:30 AM CT.  Fans, supporters and global enthusiast have already signed up – because we are a sure thing – and 3 companies have secured vendor tables. Grab your ticket before we reach maximum capacity.

The theme this year is: Navigate Turbulence in the Global Marketplace (#navigateturbulenceintheglobalmarketplace).

Representation will be from all over the world due to the hybrid approach (option to attend in person #Chicago or remotely). We cherish diversity of thought and a rich exchange of information and that we guarantee you will experience. 

Associated Bank is our lead (Gold) sponsor. We thank them for their continued support.

Foley & Lardner LLP provides innovative legal services to businesses and is the host for the program – grateful to their support as well.

  

Now to the speakers, the people who will make our event rock! The following speakers have an amazing background in international trade, some are even #export-award winners:

• Bill McHenry, President, Widgeteer, Inc.
• Angie Kappel, VP Foreign Exchange, Capital Markets, Associated Bank
• Cathy Koch, Founder and CEO, K-Tec Systems
• Tom Dustman, International Sales Director, Sunnen Products Company
• Ellen Wheeler, Partner and Litigation Attorney, Foley & Lardner LLP
• Lori Novak, VP Foreign Exchange, Capital Markets, Associated Bank
• Ahmad Murrar, Litigation Associate, Foley & Lardner LLP (Moderator)
• Susan Walters-Flood, Chief Operating Officer, The Planting Hope Company
• Donald J. Lloyd, Senior VP, Manager: Capital Markets – Foreign Exchange, Rate Swaps and Commodity Derivatives, Associated Bank (Moderator)
• Lu Holter, Owner, Croix Valley Foods
• Richard Paullin, Executive Director, ITAGC
• Marc Schulman, President, Eli's Cheesecake Company

Topics covered:

–  How to get paid and avoid risks associated with foreign exchange fluctuations?

–  The value of EXIM bank financing.

–  What grants are available to businesses for international expansion?

–  The ins and outs to sourcing and importing.

–  Which overseas markets are right for you and how to figure it out?

–  Strategies for ingredient protection on food products.

–  Best practices in the area of post-pandemic recovery.

–  What does Made in U.S.A. mean to the world?

–  How to find customers and ship products worldwide.

–  What's involved to export foods products (e.g., labelling and regulatory issues)?

–  Strategies for working effectively across different cultures to form productive relationships with diverse clients.

Visit the website for more details and to register: https://bit.ly/3PyjTv0.

Our forum is known for attracting and featuring business owners who are #exporting or are about to #goglobal, incredible networking, and the exciting raffle of prizes at the end.  The prizes alone draw people to the event 😂!

Can't wait to connect with you in October 20th!  Together, let's take on the world!

Note to our readers:  Thanks to your readership, we have surpassed 150K views to our blog in September!

Australian Wine Profits to China Are Too Big To Ignore

©iStock/moisseyev

Australian wine exporters sold $1.3 billion worth of wine a year to China before punishing tariffs were imposed in November 2020, which made it almost pointless to keep selling into that market.

A resumption of trade to China in 2023 would be a plus for the broader Australian wine industry because there was an oversupply of red wine that hadn’t been able to find a home.

Read more how Australian winemakers are gun-shy about China but the profits are too big to ignore.

Exporting is a Great Competitive Edge for Women Business Owners

©iStock/Amorn Sarıyan

Zimbabwe businesswomen have been urged to venture into the export market and take advantage of the opportunities provided by the African Continental Free Trade Area (ACFTA), which has a market of more than 1.2 billion people.  This is to boost the country's exports.

The program was designed to empower women entrepreneurs with personalized business mentorship, professional knowledge and skills as well as tools and networks to transform their existing enterprises into successful and sustainable export businesses.

Learn more how Zimbabwe businesswomen are encouraged to venture into exports.  

The nonprofit Women Entrepreneurs Grow Global® has always felt that educating women business owners on how to export creates a competitive edge for them.

Only 3 Days Left to Register for the Biggest and Best Global Small Business Forum on the Planet

©2022 Global TradeSource, Ltd.  All rights reserved.

Don't miss the biggest and best 7th Annual Global Small Business Forum on the planet held virtually this Friday, October 21st from 8:00AM-11:30AM CT.  The theme is:  #rebootyourbusinessforglboalgrowth.  Register NOW!

Lead (Gold) sponsor is Associated Bank with support from Foley & Lardner.

Below is a listing of the speakers.  If you look at the graphic above with the circle, follow top left clockwise.  

• Steve Greenspon (top left), Chief Executive Officer, Honey-Can-Do International
• Michael Jones, Michael A. Jones, II., International Sales Division Leader, Avlon Industries, Inc. 
• Shital Daftari, Founder and CEO, Saris and Things & SNT Biotech 
• Tom Britz (lower right), President and CEO, Glacier Hops Ranch 

Additional speakers who are also award-winning exporters (look at graphic in the lower area):

• David Kniepkamp (bottom left), President and CEO, Smart Controls LLC (lower left)
• Amy Bosco, Director of Global Business Development, Beekley Medical (lower right)

Speakers will discuss how they are leveraging the lessons from the global pandemic, the war in Ukraine, high inflation, global supply chain challenges, and a rise in interest rates – all while still growing and focusing on the future of global business.  During panel discussions you will learn their best-kept secrets to driving results for a business.

Special guests include, but are not limited to:  Marc Schulman, President of The Eli's Cheesecake Company and Richard Paullin, Executive Director, International Trade Association of Greater Chicago.  We've also invited Chicago Mayor Lori E. Lightfoot.

Full lineup of speakers can be found here.

Added to our list of specialness, is e-vendor, Boomerang Carnets.  They've supported us before and we look forward to working with them again this year during our breakout rooms.  

We also have Il SBDC International Trade Center, Southern Illinois University Edwardsville as a supporting organization this year.

Tickets run from $10 (student ticket), to $20 (general ticket), to $200 (ticket and one e-vendor table). 

Visit the website for more details and to register: https://globalsmallbusinessforum.com.  Network like crazy, learn what it takes to thrive in the global marketplace, and walk away with new insights to bring your business to new heights.

Note: The forum is also known for its fun raffle prizes at the end. Who knew by attending that you could potentially win a world famous Eli's Cheesecake, Tiffany's article or cool houseware item?  You must be present to win!  See you there.    

Only 9 Days Left to Register for the Biggest and Best Global Small Business Forum on the Planet

©2022 Global TradeSource, Ltd.  All rights reserved.

You won't want to miss the biggest and best 7th Annual Global Small Business Forum on the planet held virtually on Friday, October 21st from 8:00AM-11:30AM CT.  The theme is:  #rebootyourbusinessforglboalgrowth.

Lead sponsor is Associated Bank with support from Foley & Lardner.

Below is a listing of the speakers.  If you look at the graphic above with the circle, follow top left clockwise.  

• Steve Greenspon (top left), Chief Executive Officer, Honey-Can-Do International
• Michael Jones, Michael A. Jones, II., International Sales Division Leader, Avlon Industries, Inc. 
• Shital Daftari, Founder and CEO, Saris and Things & SNT Biotech 
• Tom Britz (lower right), President and CEO, Glacier Hops Ranch (winner of 2022 Small Business Exporter of the Year Award!)

Additional speakers who are also award-winning exporters:

• David Kniepkamp (bottom left), President and CEO, Smart Controls LLC
• Amy Bosco, Director of Global Business Development, Beekley Medical (recent winner of The President's "E" Award!)

Speakers will discuss how they are leveraging the lessons from the global pandemic, the war in Ukraine, high inflation, global supply chain challenges, and a rise in interest rates – all while still growing and focusing on the future of global business.  During panel discussions you will learn their best-kept secrets to driving results for a business.

Special guests include, but are not limited to:  Marc Schulman, President of The Eli's Cheesecake Company and Richard Paullin, Executive Director, International Trade Association of Greater Chicago.  We've also invited Chicago Mayor Lori E. Lightfoot.

Full lineup of speakers can be found here.

Added to our list of specialness, is e-vendor, Boomerang Carnets.  They've supported us before and we look forward to working with them again this year during our breakout rooms.  

We also have Il SBDC International Trade Center, Southern Illinois University Edwardsville as a supporting organization this year.

Tickets run from $10 (student ticket), to $20 (general ticket), to $200 (ticket and one e-vendor table). 

Visit the website for more details and to register: https://globalsmallbusinessforum.com.  Network like crazy, learn what it takes to thrive in the global marketplace, and walk away with new insights to bring your business to new heights.

Note: The forum is also known for its fun raffle prizes at the end. Who knew by attending that you could potentially win a world famous Eli's Cheesecake, Tiffany's article or cool houseware item?  You must be present to win!  See you there.    

Say "Hello" to a New Way to Heal... and Export: Featuring Cast21(wegginar® 9/28/22)

©2022 Women Entrepreneurs Grow Global®.  All rights reserved.

Did you know?

• International sales may actually be easier than domestic sales?
• How to use your local, regional, federal and industry resources to assist you with international expansion efforts?
• Who to call when it comes to export credit?

All of the above and more will be addressed by two rock stars who will be presenting a wegginar® tomorrow entitled, "Say “Hello” to a New Way to Heal… and Export: Featuring Cast21," 9/28 at 11AM CT (free of charge thanks to generous sponsors as noted in the graphic).

The presenters are Ursula Wegrzynowicz, Business Development Specialist at EXIM Bank and Ashley Moy, Co-founder at Cast 21.

If you are running a domestic enterprise and are thinking about exporting, this wegginar is for you.  Exporting can be lucrative for all sized businesses.  On average, sales grow faster, profits increase, more jobs are created, and employees earn more than in non-exporting firms. 

To learn more about the fabulous wegginar and to register (n/c), visit https://bit.ly/wegginar.  See you there!

Go State of Washington on Exports!

©iStock/aiisha5

The U.S. Small Business Administration (SBA) has awarded the Washington State Department of Commerce a tenth year of funding to help state small businesses grow through exporting.

The $1.4 million grant to Washington, part of the SBA’s State Trade Expansion Program (STEP), is one of the two largest awarded from a total $20 million to 52 states and territory international trade agencies – Michigan also received $1.4 million.

For information about STEP export vouchers, Go Global or other Commerce programs that help Washington businesses grow, expand and locate in Washington State, please visit ChooseWashington.com.

What Can an Export Grant Out of New Jersey Do For You?

©iStock/RomanBabakin

In the case of New Jersey, USA, the New Jersey Business Action Center (NJBAC) is offering export assistance to small and mid-sized businesses in New Jersey through its NJ STEP program. 

Through the New Jersey State Trade Expansion Program (NJ STEP), which is funded in part through a grant from the U.S. Small Business Administration (SBA), the NJBAC offers an opportunity to help Small Business Enterprises (SBEs) receive financial awards to offset export promotion costs partially.

The benefits of exporting include increased revenue, a diversified revenue stream, and an expansion of product offerings for local preferences.

To learn more about its tools and resources, visit here.

Global Small Businesses Resume International Travel Boosting Export Sales

©iStock/jacoblund

Export Delaware is ready to travel the world again!  After two years of being grounded due to the global pandemic, business owners are chomping at the bit to get back to in-person business.

Export Delaware has an aggressive travel schedule planned for Delaware global small businesses that are ready to expand their exports around the world.

So far some have traveled to Dubai (March 2022) and are headed to South Africa, Kenya, and Tanzania in May. Then, it's off to Israel in the summer. 

“These state-led business trips have proven to be a successful strategy for entering new markets and increasing export sales,” says Secretary of State [Delaware] Jeff Bullock. “The customized support from the Export Delaware team and the in-country trade representatives make all the difference.” 

For Delaware-based businesses, to learn more and to apply, simply go to https://export.delaware.gov/step-grant/ and download the STEP Grant application. 

New Jersey Awarded $1.5M in Funding to Expand Small Business Exporting

©iStock/Ultima_Gaina

Are you a business owner located in New Jersey who aspires to take your business global?  The timing could not be better.

The New Jersey Business Action Center (NJBAC), received $1.5M in funding for the New Jersey STEP (NJSTEP) program to provide financial awards on a first come, first served competitive basis to New Jersey eligible small businesses that are new to export, as well as those businesses who currently sell their goods and services to other countries. The program is funded in part through a grant with the U.S. Small Business Administration (SBA).

Learn more here and go for global!

World Trade Center Utah Receives $1,050,000 State Trade Expansion Program STEP Grant

©iStock/mj0007

SBA announced that World Trade Center Utah (WTC Utah) will receive a State Trade Expansion Program (STEP) Grant of $1,050,000 on behalf of the State of Utah.  

Utah’s export growth rate has been the highest in the nation for the past two years. Eighty-five percent of Utah’s exporters are small businesses, and international sales add $5 billion across the state in additional revenue for these small business exporters.

Exporting is an important tool for small businesses to grow revenue and boost local economies. STEP is designed to assist states with increasing the number of small businesses that export and the value of those exports.  

Read on to learn more about how Utah received a STEP grant to accelerate global growth of businesses.

Today in Global Small Business: Exporting Opens Up Whole New Revenue Streams

©iStock/Tryaging

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

• North Carolina exports billions of dollars in goods and services to the world each year. For small business, it can open up whole new revenue streams to keep them afloat in down economic times.
• Open banking is creating new possibilities for businesses that want to reach a global market.
• Small and medium-sized businesses in Latin America can find it difficult to get the funds they need to export their goods to the United States. It’s a gap Marco Financial is looking to bridge through its tech-enabled risk assessment platform that can provide better insight on who should receive loans.
• Quote of the week:  “Business expands in proportion to one's courage to go global" – Laurel J. Delaney
• How to MacGyver Your First Export by Laurel J. Delaney.
• The State Star Award is given to someone who exhibits exemplary performance, makes a significant contribution to his or her SBDC program and shows a strong commitment to helping small businesses grow; it goes to Kevin Kim at Illinois SBDC/ITC.

Think Your Business Is Ready to Go Global?

©iStock/violetkalpa

Exporting might seem like reaching for Mars (maybe not to Richard Branson or Jeff Bezos) with customers thousands of miles away or speaking another language. 

In reality, those customers are closer than you think, and luckily, you have your own Mission Control Dashboard to provide guidance as you move along your export journey.

Read on to learn about government resources that will help you be ready to go global.

Exporting Can Boost Small Business Recovery

©iStock/Lady-Photo

By working to enter, or re-enter, the global marketplace, many small businesses are sitting on the precipice of success. 

Nearly 96 percent of the world’s consumers live outside the United States and trade represents nearly two-thirds of the world’s $80 trillion economy. With exporting as a component of a business’ growth strategy, a company can expand faster, create jobs, and pay higher wages — all while contributing to the local economy.

In this particular example, Michigan firms are considering pivoting and enhancing their customer base and revenues via exporting.

Nonprofit Women Entrepreneurs Grow Global® Launches 'How She Went Global' Podcast Series

©2021 Julie Smolyansky, CEO, Lifeway Foods.  All rights reserved.

“How She Went Global” podcast launched March 17, 2021 by Women Entrepreneurs Grow Global®, is an interview-based platform that tells the stories of women-owned and women-led small- and medium-sized enterprises (SMEs) that have grown sales and revenues by exporting their products and services. It is designed to appeal to those who want to gain an education on going global, stay informed about new ways to take on the world, get motivated, be inspired and have fun—on a monthly basis.

The first episode featured Julie Smolyansky, who became the youngest female CEO of a publicly held firm at the age of 27 when she took over leadership of Lifeway Foods in 2002—where she still serves as president and CEO.

“You don’t have to be a big corporation to have success in the global marketplace,” Smolyansky (pictured at the top) said. “Even small companies can go global today. I want to inspire the women listening to “How She Went Global” to trust their gut and go for it.”

All episodes of “How She Went Global” – sponsored for a year by Bluedog, a Chicago-based woman-owned Certified B global innovation, strategy and design firm – will be available on Apple iTunes, and will also be shared on social media through Twitter, Facebook, Instagram, LinkedIn and TikTok.

Today in Global Small Business: Constant Evolution is the Only Way Forward

©iStock/smshoot

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

• It’s no secret that 2020 has been a difficult year for the food and beverage industry as a whole.  See how one fine dining restaurant is taking global to a whole new level by declaring constant evolution is the only way forward.
• Exporting Japanese culture abroad in the guise of a TV drama.
• Quote of the week: "We keep moving forward, opening new doors, and doing new things, because we're curious and curiosity keeps leading us down new paths." – Walt Disney
• What you can do as a global small business to thrive right now.
• Want to rank higher in Google?  Learn SEO strategies from an expert (gee, there is a cost involved and it's offered from Entrepreneur Magazine during the hard times of COVID-19).
• Wix.com will now start offering payments.