Export-Import Bank Awards Small-Business Exporter of the Year 2011

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According to Export-Import Bank of the United States, the small-business Exporter of the Year 2011 award winner is: Wayne, Pennsylvania-based Wallquest Inc.

Wallquest Inc., a family-owned firm based in Wayne, Pa., sells wallpaper in more than 50 foreign markets, including China, Saudi Arabia, Turkey, Brazil, Russia and the United Arab Emirates. Last year, the company’s exports rose 76% to over $17 million. The company’s growth since 2008 has been driven by the export market, according to Wallquest Vice President Jack Collins.

Learn more here.  Press release here.

Congratulations to Wallquest.  May their exports keep growing!

How to Establish Healthy Global Business Relationships On LinkedIn

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Proceed with caution and use a critical eye when evaluating posts and search results on LinkedIn or any other social networking platform.

With this article for About.com's Import and Export site (full disclosure:  I serve as their guide), I provide examples of what to avoid and what to look for when identifying potential import/export opportunities.

Read:

LinkedIn:  How to Pre-Qualify Import and Export Opportunities on LinkedIn

Let's connect:  Laurel Delaney, LinkedIn

News From Around the World

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As reported from the Arizona Daily Star:

A 49-foot-tall head is fixed on a torso with cranes and integrated into a floating stage on Lake Constance near Bregenz, Austria. The stage is being prepared for the opera "Andre Chenier," which will premiere July 20 at the Bregenz Opera festival.

The World In Words

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How to stay on top of the word:  Typomaps.net.  Combines the elements of geography with typography.  Created by German designer Dirk Schaechter.  Cool.

Competitive Import/Export Intelligence

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In case you missed this, there are three online resources (that I am aware of) that offer import/export trade data, competitive intelligence and more.

Learn all about them here.  Sign up for the newsletter while you're there.

Increase Sales By Exports

Healthy and Productive Global Citizenry

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Douglas Besharov and Douglas Call co-author an article for The Wilson Quarterly, "The Global Budget Race," which talks about how the United States must make tough choices in order to climb out of its current debt crisis.

Snippet:

Those countries that do a better job of bringing revenues and spending into balance—in a way that fosters a healthy and productive citizenry—will have a competitive advantage in the global economy, and they may be able to avoid economic decline.

Read the entire article (Autumn 2010) here.

As It Relates to Global Business, What Is a Triple Bottom Line?

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This commentary is really about:  is it harder to run a business in China than America? That should draw your interest! But take a good look at how contributor Liam Casey, founder and CEO of PCH International, covers what a "triple bottom line" is and how it can help companies achieve a successful and sustainable global business model.

Read the entire piece here.

Posted by:  The Global Small Business Blog

How a Calamity Can Create Positive Change

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The tragedy in Japan caused by a magnitude-9 earthquake and turbo-charged tsunami leads one to think the unthinkable:  Will Japan recover?

With a culture like this (refer below), how can they not slowly rebuild?

In the face of calamity, a decent people has proved extremely resilient: no looting; very little complaining among the tsunami survivors. In Tokyo people queued patiently to meet their tax deadlines. Everywhere there was a calm determination to conjure a little order out of chaos. Volunteers have rushed to help. ~ The Economist, Japan's hydra-headed disaster:  The fallout

Read the entire article here.

And Mr. Howard Stringer, chairman, CEO and President of Sony Corp. writes a commentary for The Wall Street Journal (3/18/11) that I wish I would have written.  I so agree with his sentiments about the Japanese having a national spirit of grace, generosity, and common cause that just never gives up.

Read the entire article:  Howard Stringer:  The Japanese Will Persevere and Never Give Up

A recent article I authored before the Japan crisis for About.com (Import and Export):  Japan Business:  5 Ways to Build Harmony With Japanese Customers

And an old piece about my experience doing business in Japan reflecting my love of the country and its people:  An American Trader in Japan.

Posted by:  Laurel Delaney, The Global Small Business Blog

World Power

Photo credit: Laurel Delaney, power grid in Tinley Park, IL; laying on the ground looking up while taking the photo.

“Power is not alluring to pure minds” ~ Thomas Jefferson

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.

My Favorite Time: St. Patrick's Day

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An Irish Blessing

May the road rise to meet you,
May the wind be always at your back.
May the sun shine warm upon your face,
The rains fall soft upon your fields.
And until we meet again,
May God hold you in the palm of his hand.

May God be with you and bless you:
May you see your children's children.
May you be poor in misfortune,
Rich in blessings.
May you know nothing but happiness
From this day forward.

May the road rise up to meet you
May the wind be always at your back
May the warm rays of sun fall upon your home
And may the hand of a friend always be near.

May green be the grass you walk on,
May blue be the skies above you,
May pure be the joys that surround you,
May true be the hearts that love you.

Everyone the world over is Irish on St. Patty's Day!  Have a happy one.  This one's for you dear Dad, Thomas S. Delaney (God rest his soul January 8, 2011).

What Does Import Duty Evasion Look Like?

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Infant and youth furniture resource Kid Brands fired two executives from its LaJobi subsidiary (notice recalls here) in response to alleged evasion of paying import duties in the wood bedroom furniture antidumping case.

What did they do wrong?

• Applied import duties incorrectly to products imported from various Chinese resources, a violation of antidumping regulations.
• Practiced unfair pricing tactics.
• Misidentified the manufacturer and shipper of products.

Read the entire story here to get a feeling of what import duty evasion looks like and to learn how to avoid these import problems on your own transactions.

And, I would be cautious with the LaJobi brand for your loved ones.

How To Take A Company Global by Laurel Delaney

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This piece was published four (4) years ago yet most of the links not only still work but also shed light on how to take a company global.

So if you are a newcomer to this blog, dig in -- this one's for you.  For everyone else who's been with me since 2004, you might re-visit this piece because I am certain there's something you missed and could use to grow your business global!

50 Ways to Go Global
by Laurel Delaney

Who Will Be The Next U.S. Commerce Chief?

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According to Peter Cohen's commentary, there are three names in the hat:  Google Executive Chairman Eric Schmidt, Ron Kirk, U.S. trade negotiator and Jeffrey Kindler, the former CEO of Pfizer.

Cohen gives his assessment of the candidates.  He also references:

The administration's goal of doubling U.S. exports in five years is an ambitious goal, no matter who next fills the role of commerce secretary. Based on the latest numbers, U.S. exports rose 16.6% to $1.83 trillion in 2010. At that level we'd need to boost exports another 70% to reach $3.1 trillion by 2014. 

And read this part carefully:

At this point, I should disclose that I have a small personal connection to this story:   This year, I have a new book coming out about how small and medium-sized businesses can enter global markets, titled Export Now: Five Keys to Entering New Markets.  I co-authored it with former Undersecretary of Commerce for International Trade Frank Lavin, and Secretary Locke wrote the forward.

Keep tabs on it.

The Internet: An E-Revolution For the Digital Global Entrepreneur

Photo credit:  Laurel Delaney, shot from car heading East on Wacker Drive about 5:00 p.m. CST on 3/10/11 -- that's the Wrigley Building dead center (clock).

My debut column on global business for Crain's Chicago Business Enterprise City blog (in case you missed it):

In 1998, my book “Start & Run a Profitable Exporting Business” (read it free: http://tinyurl.com/2d5dfm3) was published. Since then, it has become a source for entrepreneurs and small businesses interested in exporting their products and services internationally. But let’s face it — a lot has happened in the past 13 years. Starting an export business was a good idea then, but now is an even better time to take your business global.

What’s been the single most influential change for businesses since 1998?

Read the entire column here:
Laurel Delaney:  The Internet is a Global Entrepreneur's Best Friend

Watch for more on Wednesdays.  Follow @EnterpriseCity on Twitter!  And follow me while you are at it:  @LaurelDelaney!

Have a great weekend!  Back with you on Monday.

Posted by:  The Global Small Business Blog

Our Thoughts and Prayers Are With the People of Japan

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Considered the worst quake (8.9) in Japan's history ... we are heartbroken and send our hope and prayers to the victims of this devastating episode.

I am so glad to hear that the United States is sending Navy ships with supplies and aid to help the quake-ravaged Japan.

Making International Trade Work For You

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Once in a while I lose track of just how much UPS helps small businesses conquer the world.

Are you aware of UPS Capital?

UPS Capital, a UPS company, is focused primarily on providing financial services to businesses whose supply chains span international borders, such as U.S.-based businesses that manufacture or import goods overseas for sale in the U.S.

Is that your company?  Then pay UPS Capital a visit here.

The Ultimate Global Business Destination: Sweet Home Chicago

Photo credit:  Laurel Delaney, Chicago lakefront

Is Chicago a role model for global entrepreneurship?

Find out here.

Posted by:  The Global Small Business Blog

Inside Secrets To Taking a Business Global

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What's the toughest part of taking a business global?  From what people say, it's usually, "My products are not exportable.  Too complex.  Cost prohibitive."

Excuses, excuses ... don't get me wrong, some of these reasons for not crossing borders might apply but in most instances, you can get up and running with your business internationally within about a day.  I'm serious.

Finding your first good customer is the toughest part of the whole deal.  After that, everything else falls into place from arranging payment (your banker can assist) to transporting your product (contact UPS, FedEx or DHL) to after-service sales (use Skype or email for goodness sakes).

If you want additional secrets to taking a business global, read "Finding Gold in Global Sales."

Ready, set, go global!

Posted by:  The Global Small Business Blog

As a Result of the Royal Wedding 2011, How Will You Grow Your Business Global?

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A new website was launched providing all the latest official information on the upcoming royal wedding of Prince William to Catherine Middleton (pictured).

The website will be regularly updated with new details about the Friday, April 29 ceremony at Westminster Abbey, as well as new features, videos, photos and more.

My question is this:  What items are you currently manufacturing that could be tweaked and potentially sold in London and elsewhere in the world to celebrate this event? Special pins, cuff links, ribbons, banners, socks, folding seats (to watch the wedding), etc.

Seems like an awfully good way to ride on the wave of success on what is going to be the wedding of a lifetime and take your business global at the same time!

Note:  Minor detail in the grand scheme of things but I noticed that the website was implemented by Accenture (a firm already capturing global opportunity on this event).

Posted by: The Global Small Business Blog

How Many SMEs in the EU?

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According to the European Commission Enterprise and Industry, there are more than 23 million SMEs in the EU, representing 99% of all European businesses.

Fact No. 1

The 23 million SMEs in the EU represent 99% of businesses, and are a key driver for economic growth, innovation, employment and social integration. The European Commission aims to promote successful entrepreneurship and improve the business environment for SMEs, to allow them to realize their full potential in today's global economy.

Fact No. 2

What is even more intriguing is that nine out of ten SMEs are actually micro enterprises with less than 10 employees. Hence, the mainstays of Europe's economy are micro firms, each providing work for two persons, in average. This is probably one of the EU's best kept secrets!

Learn more here.

Sweet Home Chicago: Soldier Field

Photo credit:  Laurel Delaney

Soldier Field (pictured), home to many amazing Chicago events.  Stadium history here.

Have a great weekend my worldly readers.  Back with you on Monday.

Posted by:  The Global Small Business Blog

Global Food Prices Hit Record High

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I know this to be true.  Why just last night I bought a 26 oz. can of Maxwell House coffee for U.S. $11.79!  Yes, I like one good cup of coffee early in the morning to start the day right but what a price to pay!

So if you are in the food industry, you better start raising prices *slowly* to your customers now so you don't end up eating into your year-end profit margins.  Or, worse yet, don't smack your customers with a huge price hike all at once.  That's a sure-fire way to lose a customer.  Small price adjustments always work better.

Read the article here.

What To Do With 140 Global Corporate Social Strategists?

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Survey them!  That's what the Altimeter Group did and found that social business maturity drives social business spending.

Read the report here:

How Corporations Should Prioritize Social Business Budgets

Take Your Software Global

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We love "meaty" freebies and anything tied to globalization!  Acclaro -- provider of comprehensive translation and localization services for software, websites, documents and marketing initiatives of all kinds -- is offering a complimentary software localization webinar that will help you take your first step towards tapping into new international markets.

Register here.

Hurry ... the webinar is this Thursday, March 3rd!

Posted by:  The Global Small Business Blog

Sweet Singapore

Photo credit:  Laurel Delaney, Singapore

Some tips and stats on doing business in Singapore.

Singapore: The Entrepreneurial Capital of the World
by Laurel Delaney, Import and Export Guide, About.com

Posted by:  The Global Small Business Blog

How to Keep Up With the Global Crowd

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How not to slip up with it comes to using technology to go global.

Read:

Avoiding I.T. Slip-Ups When Going Global
David H. Freedman || NYTimes.com

According to the article, key areas to focus on if you are to keep up with the global crowd:

• Too little or too much customization
• Tricky support demands
• Logistics
• Privacy

In This World, Don't Be Too Particular

Photo credit:  Laurel Delaney, Singapore Changi airport, jewelry shop (February 8, 2011)

"Let us not be too particular.  It is better to have old second-hand diamonds than none at all." ~ Mark Twain

Trouble Ahead: China's eBay, Alibaba

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Alibaba announced two of its most senior representatives, David Wei, the chief executive, and Elvis Lee, the chief operating officer, would resign to accept responsibility for the company having granted "golden status" to 2,236 dealers who it says had subsequently defrauded buyers.

Although the two executives were not personally implicated, the company had little choice than to accept their resignations and make a public disclosure about what happened.

Read all about it:

An online-fraud scandal in China:  Alibaba and the 2,236 thieves
The Economist (check out this December 2010 article as well)

Why Alibaba's CEO had to go
Fortune Tech

Alibaba.com CEO Resigns in Wake of Fraud by Sellers
WSJ.com

David Wei and Elvis Lee Quit Alibaba Amid Fraud Inquiry
NYTimes.com

I think this is only the tip of an iceberg ... watch it closely.

Poetry, Peace and Beauty: A Place to Feel a World Apart

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If you are in the process of conducting business in Northern Italy and have a chance to experience one of the finest hotels, Grand Hotel A Villa Feltrinelli, do so.

Design teams from around the globe were consulted about period features and stylistic settings.  Take the time to explore.

For demanding globetrotters who need an escape once in a while -- this one's for you!

Which Export Sales Strategy is Best For Your Business?

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There are several factors to consider when determining whether a direct or indirect export sales strategy is best for you and your business -- most important, the extent of your resources and the degree of control you wish to exercise over your export ventures.

The following article (that I wrote as the About.com Import and Export Guide) will help you with direct exporting.  Later, I'll cover indirect exporting.

Direct Exporting: Advantages and Disadvantages to Direct Exporting

Posted by:  Laurel Delaney, The Global Small Business Blog

Worldly Web Re-Design: Should You Incorporate Red, Yellow, Blue or Violet?

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One thing is for sure: You don't want to offend anyone, anywhere in the world with your color choice!

Learn more here about what colors mean by culture.  We are not surprised to see from the report that:

Blue is often considered to be the “safest” and “most positive” global color.

GlobeTrade.com is heavy with blue and so is this blog.  Remember that different colors hold different meanings throughout the world.

Manufacturing Your Way to the Top

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In his new book Make It In America, Andrew Liveris, Chairman and CEO of The Dow Chemical Company, calls for a national strategy to revive manufacturing.

We need manufacturing jobs if we are to keep a growing population busy and start paying off our debts to the rest of the world.  Some Americans imagine that we can thrive by continuing to dream up gadgets like iPhones and Kindles while letting the Chinese do all the tedious work of making the products themselves.

 Mr. Liveris disagrees.  Learn more on why he disagrees and about his new book here and here.

Posted by:  Laurel Delaney for The Global Small Business Blog

Come Fly With Me to Discover the World

Photo (taken through pane of glass) credit:  Laurel Delaney, Narita airport, Tokyo, Japan en route to Chicago on a United Airlines airplane (2/8/11).

“The first condition of understanding a foreign country is to smell it.” ~ Rudyard Kipling

Global Vision of Progress

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Are you between the age of 18-25 years?  Then you are cordially invited to celebrate the OECD's 50th anniversary by creating a short video describing your vision of progress.  You can be located anywhere in the world to apply.  Three winners will win a trip to Paris.

Be inspired.  Get creative.  The deadline is March 1, 2011.

Posted by:  The Global Small Business Blog

Instant Translator: App Speaks in 23 Different Languages

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Google goes all out with its free iPhone app, Google Translate, which allows you to push a button, say something in one language and it displays a translation.  Makes communicating worldwide a breeze.

The app will speak the results in one of 23 different languages.

Learn more:

Put a Translator in Your Pocket

Expansion Lies in Selling Foreign Markets

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According to the Commerce Department, U.S. exports grew by almost 17% to $1.8 trillion last year.  Imports jumped nearly 20%, pushing the annual trade deficit up to almost $498 billion, a 32.8% increase that marked the biggest percentage gain in a decade.

And look at what the big focus is:

With developed economies growing slowly, U.S. companies are recognizing that expansion lies in selling to other foreign markets—some that were long seen as competitors. The Obama administration is pushing that perspective to achieve its goal of doubling U.S. exports by 2014.

Read more here.

Posted by:  The Global Small Business Blog

How to Rev Up Your Global E-Commerce Sales

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In the global e-marketplace, details matter.  Sure you have a website and a blog, but can you claim you sell international customers?  If not, why not?  This article might help:

Global E-Commerce:  3 Ways to Turn Your Website Into a Global E-Commerce Money-Making Machine

Posted by:  Laurel Delaney, The Global Small Business Blog

Note:  Laurel is the Import and Export Guide for About.com

Coke Sales Bubbling Globally

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Why are Coke's sales on the rise internationally?  As a small business owner or entrepreneur, you probably wonder what we can learn from the big guy -- Coke.  Two things for now:

1.  Coke's growth was fastest in emerging markets like India and Brazil.  You have to challenge yourself:  Should you be looking at this market?  My answer:  Yes!  Definitely consider the BRIC (why it's important here) area for expanding your business internationally.

2.  Coke is sticking to its long-term pricing strategy, and plans to implement price increases that won't affect or startle consumers who are still fairly value conscious.  Is this something you should be doing too with your business offerings?  My answer:  Yes!  If you can gently raise prices and still have customers buy -- go for it.  Over the long haul, you'll finish up the year in a far healthier (= profitable) state.

There's more.  Read the entire article here.

Posted by:  The Global Small Business Blog

The Great Chicago Blizzard 2011

Photo credit: Laurel Delaney, Rogers Park, Illinois, February 2011.

"The first fall of snow is not only an event, it is a magical event.  You go to bed in one kind of a world and wake up in another quite different, and if this is not enchantment then where is it to be found?" ~ J.B. Priestley

Can We Outproduce, Outcompete and Outsell Anybody, Anywhere in the World?

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I'd like to think we can and according to President Ronald Reagan in his own State of the Union speech on February 4, 1986, he affirmed we could.

But here's the thing.  Judy Shelton (video clip of her -- interesting ... she thinks the free market works) writes a provocative commentary for The Wall Street Journal:  "The Wrong Way to Double Exports."  She doesn't think we are competing.  She thinks we are cheating.

Find out why here.

Ms. Shelton is author of “Money Meltdown” (Free Press, 1994), is a senior fellow at the Atlas Economic Research Foundation and co-director of the Sound Money Project.

The Cool Factor: Singaporeans

Photo credit: Laurel Delaney, Singapore Changi Airport, 2/8/11.

I just returned from a trip to Singapore to attend a World Entrepreneurship Forum Board meeting. We will be hosting our fourth annual World Entrepreneurship Forum in Singapore November 2011 and wanted to make sure our venue choice is a good fit to our Forum's needs.

The Action Community for Entrepreneurship (ACE) and Nanyang Technological University (NTU) have jointly become the third founding member of the World Entrepreneurship Forum.

Singapore will host the 4th annual conference of the World Entrepreneurship Forum in November 2011. This makes Singapore the first founding member from Asia to join the Forum, and the first country in Asia to host the Forum.

In the past, we hosted our event in Lyon, France.

No surprises here. Singapore is fantastic.   I consider it the entrepreneurial capital of the world and further, Singapore carries the "cool factor."  To find out why, read "Are Singaporeans Cool?"

Stay tuned for more information about our November event -- coming soon!

As the World Turns, Education Goes Ever More Global

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A recent article in the Wall Street Journal, "As World Turns, Wharton Adapts," there were two questions that stood out:

WSJ: You now have these eight global classes. What does that entail?

Mr. Robertson: They're in the U.K., Israel, India, China, South Africa and Brazil. The courses would be relevant to that environment. So as we're teaching in Brazil it's about sustainability, and when we're teaching in Israel it's about technology and one of the courses in India is about health care in India and what we can learn from that experience.

WSJ: What's changed in business that pushed you to make such broad changes in the curriculum?

Mr. Robertson: We were seeing a somewhat different world. We recognize now that much of the future growth of the world is going to come from 150 countries that, to a large extent, until recently, weren't mentioned very often in M.B.A. programs.

Read the entire interview with the WSJ and Thomas S. Robertson, Dean of the Wharton Business School and Reliance Professor of Management and Private Enterprise and professor of marketing and management here.

Timeless Globe

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Take a good long look at the timeless Chalkboard Globe (pictured on the link).

It is a table top metal globe that has outlines of the continents painted on it, but can be drawn on with chalk. You can add the dividing lines of countries as they change or as you like.

Learn more here.

Business Megastars: The New Global Elite

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Around the world, are the super-rich different from you or me?

Excerpt from the author, Chrystia Freeland:

Through my work as a business journalist, I’ve spent the better part of the past decade shadowing the new super-rich: attending the same exclusive conferences in Europe; conducting interviews over cappuccinos on Martha’s Vineyard or in Silicon Valley meeting rooms; observing high-powered dinner parties in Manhattan. Some of what I’ve learned is entirely predictable: the rich are, as F. Scott Fitzgerald famously noted, different from you and me.

According to Freeland, a lot of the distinctions have to do with our light-speed, globally connected economy.

Learn more:

The Rise of the New Global Elite
by Chrystia Freeland
The Atlantic 

Posted by:  The Global Small Business Blog

The Power of Kindness in Our World

Photo credit:  Laurel Delaney, Chicago lakefront

"One kind word can warm three winter months."  ~ Japanese Proverb

Essentials in Setting Up a Business in Singapore

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Unless you've been off the Internet, you've probably read somewhere (World Bank ranks Singapore #1 or The World Economic Forum through its "Global Competitiveness Report 2010-2011") about how Singapore (pictured) is one of the best and easiest places to establish a business.

Here's a primer on what you need to consider before you set up a business in Singapore.

5 Essential Things You Need to Know About Setting Up a Business in Singapore

Biggest mistake you can make?

Get a permit

After laying out your blueprint and choosing the right product to sell in the market, as well as deciding on your target customers, you are now ready to set up a business in Singapore. If you are a foreigner who is not a permanent resident and wanted to actively run a business in Singapore, you have to apply for an EntrePass from Singapore’s Ministry of Manpower (MOM). However, if you don’t want to apply for an EntrePass, you can appoint a person who is Singapore citizen to act on your behalf.

World: Happy 2011 Chinese New Year of the Rabbit

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Happy 2011 Chinese New Year of the Rabbit.  May it be prosperous, happy, peaceful and healthy.

Learn more about how the Chinese New Year is celebrated the world over here.

Motivating Tool: The Scratch Map

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For all you worldly travelers, you can keep track of where you've been and where you desire to go next with the Scratch Map.

Use a coin, scratch off the layer of gold foil covering each country or area you've traveled to, unearthing punchy colors and local details underneath.  For less than U.S. 25 bucks, you are in luck.

Effortless Cross-Cultural Communications

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A powerful online resource that will give you what you need for precise, effortless communication regardless of cultural differences.

Subscribers will have instant access to key business etiquette information on more than 60 nations, in addition to country background, business protocol and key phrases in local languages.

Don't wait another second to learn international business etiquette:

McGraw-Hill's Kiss, Bow, or Shake Hands Online

Posted by:  The Global Small Business Blog