From the Global Small Business Blog: The Countdown Begins

Make the world your business in 2018.

See What's Poppin' from Laurel Delaney on Global Trade Trends to Watch in 2018

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Passengers on the newly revamped Carnival Regal Princess won’t be greeted by fancy new restaurants, glorious swimming pools or the usual activities — but will instead walk around a deck, app in hand, as options for entertainment shift based on where they stand, says Laurel Delaney.

Welcome to the future on how things get done. This, along with a handful of other game-changing technology advancements, are white hot global trade trends that will influence global trade activities and business in general.

Take a look at areas where you need to jump into to capitalize on your business opportunities.  Here are 7 global trade trends to watch in 2018.

Business to Business (B2B) Exchanges

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If you are looking for online platforms where you can buy and sell products, look no further.  From Ofweek to Zoodel to MakersRow, here are 20 leading global B2B exchanges.

Build a Roadmap for Global Business Reach

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According to an Accenture report, Artificial Intelligence (AI) could add $957 billion to the Indian economy by changing the nature of work to create better outcomes for businesses and society. For SMEs, that means they will be able to perform better.

To help SMEs, global cloud-based business software provider Deskera is offering an integrated suite comprising ERP, CRM, Material Requirements Planning (MRP), Project management (PM) and HRMS.

"These applications can be accessed from any Internet-enabled device, encouraging SMEs to move out of premise-based system and build a roadmap for global business reach," [Shashank] Dixit [Founder and CEO, Deskera] said.

Read more about how companies are expanding their India footprint.

There Is a Bigger Market Out There: Global

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Matrade CEO Dr. Mohd Shahreen Zainooreen Madros says small businesses cannot afford to remain local. More and more foreign companies are making their way into Malaysia and are quickly crowding out the local market.  “There is a bigger market out there,” he says.

Competition has intensified as companies find that they are no longer limited to just the market in which they are based in.

As such, the world can become your market.

Read more about enabling exports for SMEs.

Peace on Earth

©2017 Laurel J. Delaney.  All right reserved.

A Christmas Story Lamp Leg Lookalike

©2017 Laurel J. Delaney.  All rights reserved.

Oh The Christmas Story famous leg lamp scene.

Global Small Business Owners Must be Flexible and Adaptable

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Flexibility and adaptability are characteristics Janet Zablock often observed in the small business owners she served as former head of global small business for Visa. It also described her own career, one that required her to reinvent herself several times.

What she learned offers lessons both for those trying to grow a global business, as well as those building their careers.

Read more about how Zablock went from shampooing hair to running small business for Visa.

The Huge Power of FANGs

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Rana Foroohar, in the Financial Times, cites the McKinsey Global Institute in writing of “the huge power of the Fangs—Facebook, Amazon, Netflix, and Google—which now dominate not just the digital business, but the entire economy.”

“Eighty percent of corporate wealth now resides in 10 percent of companies rich in intellectual property, of which the platform companies are the richest.”
And, what is it that these companies control?

The currency of the digital age -- data.

Building Empathy Across Borders

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When AskMen.com founder Ricardo Poupada was asked, "What do you think is the next big trend in technology and how will it impact the way we work?"  Here's what he said.

I’m a bit biased given my work, but I believe that VR has the potential to fundamentally change how we work in the business-to-business arena because it can help build empathy across borders and time zones, which is increasingly how the world of business is moving.

Read more about if your business won't grow, it could be because you just stick to what you know.

And be sure to catch Laurel Delaney's Global Trade Trends Report 2018 on January 10 (no charge WEGGinar™ but you must register to attend), which talks about the importance of understanding and using VR to grow your business global.

International Expansion Is Necessary for Long-Term Growth

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Despite the growing number of U.S. companies expanding abroad, there are still many firms that haven’t made the leap overseas.  International expansion is necessary for long-term growth.  If you’re on the fence about taking your company global, consider these five benefits of international business expansion.

The first one is to consider new markets outside your home country. Beyond that, look at diversification, access to talent, competitive advantages and foreign investment opportunities.

Today in Global Small Business: Due to Sanctions, Santa May Have Trouble Delivering His Presents This Christmas

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

• What group stands to benefit the most from the tax plan if it becomes law?
• Fulfill your quest to focus in 2018. 
• With the recent changes to export restrictions and sanctions around the globe, Santa may have trouble delivering his presents this Christmas.  Find out why.
• Laurel Delaney, President, WEGG and Founder, GlobeTrade.com, will present on "Laurel Delaney's Global Trade Trends Report 2018," and will cover AI, Quantum Computing, AR and VR, Wearables and more in the next WEGGinar™ held on Wednesday, January 10 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1940601026277957634
• Artificial intelligence (AI) is helping astronomers make huge steps towards solving some of the Universe's biggest mysteries.
• How to get international trade sanctions just right.

Have a Little Fun Today

©2017 Laurel J. Delaney.  All rights reserved.

The World is On the Cusp of a New Digital Economy

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With the world on the cusp of a new digital economy in which e-commerce and automation will transform production, trade, investment patterns – as well as helping meet the Sustainable Development Goals (SDGs) –the need for new policies to be adopted is clear.

“The gains of digitalization are not automatic and there will be major challenges for countries, enterprises and people to adapt, but we must start somewhere,” UNCTAD Secretary-General Mukhisa Kituyi said.

Digitalization is creating new ways for small businesses and women entrepreneurs to reach new markets worldwide.

Read more about global e-commerce policy work -- an effort that must never be given up.

The Gig Economy

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The freelance marketplace makes it easy for small business owners to save on administrative and overhead costs while also growing a business global.

Modeled after traditional e-commerce websites, freelancer marketplaces allow specialized professionals such as graphic designers, app developers, SEO consultants and social media marketers to offer their services to small businesses for a fee.

What are you waiting for?

Learn more about how you can grow your business global via the gig economy.

E-Commerce: The Rise of Online Shopping

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E-commerce sales worldwide hit an estimated $25.3 trillion in 2015 and have grown since.

The internet makes buyers and sellers more visible and accessible to each other locally and globally. The international bit is really interesting. The opportunity to connect quickly and efficiently to multiple markets can be a boon for smaller businesses and a great attraction for consumers. Without e-commerce, establishing a physical presence in multiple markets can be costly, while consumer demand might also not always be clear.

Read about the five (5) ways to make global e-commerce easier for everyone.

How Does the World Trade Organization Work?

Today in Global Small Business: What's the Difference Between a Startup and a Small Business?

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

• A small business takes on global competition.
• What's the difference between a running a startup and a small business? 
• E-commerce reports worth knowing about, some free some not.
• Laurel Delaney, President, WEGG and Founder, GlobeTrade.com, will present on "Laurel Delaney's Global Trade Trends Report 2018," and will cover AI, Quantum Computing, AR and VR, Wearables and more in the next WEGGinar™ held on Wednesday, January 10 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1940601026277957634
• How image recognition and augmentation are changing retail (2017).
• Think BIG for small, that's a pillar for future-oriented, sustainable growth (PDF).

Believe

©2016 Laurel J. Delaney.  All rights reserved.

The Walnut Room at Macy's on State Street (2016), Chicago, Illinois, USA.

A New Phase of Globalization and It is Not Slowing

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Globalization is not slowing, and according to a new joint report (PDF) by Business of Fashion and McKinsey & Company. “On the contrary,” it says, “we are entering a new phase of globalisation, driven by digital connectivity and the flow of data, and this will lead to much greater global connectedness, not less.”

Read more about how national borders cannot contain the new phase of global connection.