Small and Medium Business (SMB) IT Spending Worldwide

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IDC, considered the premier global market intelligence firm, also covers the SMB market.  Here's what they predict (2010):

In the next 12-18 months, IDC expects a variety of evolutionary and revolutionary changes to take place in the small and medium-sized business (SMB) technology market that will drive opportunities on both a worldwide and regional basis. Based on this, and with in-depth knowledge of key technology areas where SMB offerings are dominant, IDC has expanded its research and consulting capabilities around understanding the SMB opportunity.

Learn more here.  Be sure to also check out:  Exploring the Global SMB Marketplace

World Travel Market Trends Report 2010

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An overview of the leading new trends emerging in the global travel and tourism industry.

World Travel Market Global Trends Report 2010

 Download now

How Collaborating Pays Off in the Global Marketplace

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At a trade summit recently organized by the Canadian Manufacturers and Exporters, there was talk about the challenges for small and medium-sized companies entering growing and complex markets.

In addition, Cubex shares its story about how it collaborated with a key competitor, to fill a product void and to reach a global audience.

It's all here:  Going global all about strategy, timing

Giving Thanks to You Dear Readers Round the World!

©Laurel Delaney 2011, "World's Largest Pumpkin"

Thank you for your readership and comments from time to time. Without you, this blog would not be nearly as lively or as much fun.   Have a Happy Thanksgiving (celebrated primarily in the United States and Canada)!

Posted by The Global Small Business Blog

How to Rev Up American Exports

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The Wall Street Journal's David Wessel moderates a discussion on the U.S. trade gap and how to fire up the export engines. Read the edited excerpts of the conversation below.

Building a U.S. export economy start with a new mind-set for companies

Here's one comment:

Only 1% of U.S. firms today are exporters. In a sense, U.S. firms have never had the export muscle—or to the extent that they had it, that muscle has atrophied over time.

And one of four recommendations:

1. GLOBALIZE ATTITUDES OF U.S. BUSINESS

To ensure growth, U.S. businesses should recognize the importance of developing foreign markets, including locally based products and services. They should set targets and goals for increasing participation in foreign markets and encourage more U.S. nationals to live abroad for a period. Government can help by providing support and education to smaller and medium-size businesses to increase their exports.

Related article:

Leading with a Global Mindset (1998) by Laurel Delaney

An Import/Export Business Is Born

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See how Mary Smith and Tom Jackson got started in the import and export business.

Technology Helps Business Go Global

by Laurel Delaney, About.com Import & Export Guide

Posted by:  The Global Small Business Blog

Generate Additional Revenue For Your Business: Expand Internationally

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The Institute for Chartered Accountants in Australia in conjunction with Ernst and Young has produced a thought leadership paper entitled "Business Briefing:  20 Issues For Businesses Expanding Internationally."

It covers:

• Planning for expansion
• Choosing your location
• Conducting business overseas

Read the paper here.

Smile to the World

©Laurel Delaney 2011, "Skokie Art Center" 

"Start every day with a smile and get it over with." W.C. Fields

Posted by:  The Global Small Business Blog

How Students Can Prepare for the Global Marketplace

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Studying abroad is all the rage these days because young people want to take on the world.  But where are the students studying?

And students are studying in less traditional destinations. Although the UK, Italy, Spain and France still top the list, China continues to attract with nearly 14,000 students studying there in 2009/10 compared to fewer than 3,000 in 1999/00. Fifteen of the top 25 destinations were outside of Western Europe and 19 were countries where English is not a primary language. There was a 44 % increase in U.S. students going to India, and Israel, Brazil, New Zealand and Egypt showed large percentage gains.  

Stacie Nevadomski Berdan has studying abroad for students covered in:

The Right Study Abroad Program Can Prepare Students for the Global Marketplace

Posted by:  The Global Small Business Blog

ITA: International Trade Administration (U.S.A.)

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Are you operating a business in the United States and need help with exporting and country and regional market information?

Have you looked at the International Trade Administration?  It's considered the bible of international trade information.

LIVE From Washington Post: It's Exporting for Growth!

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Everything you ever wanted to know about exporting and then some.  You'll hear from Terry LaRocca, State of Illinois, John Nevell, U.S. Small Business Administration, Tony Hoti, President, Intercom Ventures, Michael Howard, Export-Import Bank, Julie Carducci, U.S. Department of Commerce, Frank Lavin, Export Now (refer to our earlier post) and Stan Deans, President, Illinois District, UPS.

Go here to access videos where experts discuss how small businesses can efficiently export goods and services abroad.

Brought to you by:  Washington Post Live

Related article(s):

Starter Kit for Illinois Businesses Looking to Export
Small Firms Lead the Way In Illinois Exports

Posted by:  The Global Small Business Blog

Where Can You Find Growth? You Must Go Global!

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Good commentary by local columnist John Shoemaker for Wicked Local Wrentham about how to find growth for your business:  take it global!

It was the rallying cry for so many in small and medium size businesses: "We must go global!"

And it emphasizes how global commerce, the desire for individual freedom and the Internet are churning out more and more global entrepreneurs!

Read the entire opinion piece: When Business Goes Global

How China's Market Is Changing Fast

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Find out how China is changing and leaving the companies who wish to do business there  - breathless.

You must register to access this article.

China's confident consumers

Posted by:  The Global Small Business Blog

Wherever You Are: Is Your Head in the Clouds?

©Laurel Delaney 2011, "Clouds, Chicago lakefront."

"It is better to have your head in the clouds, and know where you are ... than to breathe the clearer atmosphere below them, and think that you are in paradise." ~ Henry David Thoreau

Posted by:  The Global Small Business Blog

Visualize the Market and Go After It: Global

Video is in English and it's excellent.  Strategies for growth:  exporting opportunities.  Be sure to catch the takeaway sheet at the end.

The Rest of the World Awaits the iPhone 4S

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Effective November 11th, Apple will be offering its iPhone 4S (pictured) to:

Albania, Armenia, Bulgaria, El Salvador, Greece, Guatemala, Hong Kong, Malta, Montenegro, New Zealand, Panama, Poland, Portugal, Romania and South Korea.

Seventy (70) countries are expected to be selling the iPhone 4S before the close of 2011.

Read the entire article here.

Is Walmart Really Changing China?

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Or is it the other way around?  Walmart wants to set green standards for 20,000 suppliers making several hundred thousand items sold to billions of shoppers worldwide. The question becomes:  Will that effort take hold, or will it unravel?

Although Walmart’s $7.5 billion in Chinese sales receipts account for only 2 percent of the company’s annual revenues, its sales in China have risen substantially over the past decade.  Sales in the United States, by contrast, have been shrinking.  And as China’s retail market—the world’s fastest-growing—expands by 18 percent a year, Walmart’s executives smell the intoxicating scent of more growth to come.  Equally important, if not more so, some 20,000 Chinese suppliers, or “partners,” reportedly provide Walmart with about 70 percent of the nearly $420 billion worth of goods that it sells globally each year.

Take a look here.

How to Cultivate Global Clients Using the Web

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With technology tools and the Internet, everyone realizes it's a lot easier to connect globally and cultivate clients from all parts of the world.

Here's a look at how a couple of small business owners are doing just that.

How Small Businesses Are Going Global - The Network:  Cisco's Technology News Site

Posted by:  The Global Small Business Blog

The Golden Dragon: China's Favorite Pen

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When you travel overseas to meet with customers and suppliers, it's always a nice gesture to bring a gift.  It should never be anything too expensive.  Rather, it's the thought that counts.

Some of the items I have given to customers are Chicago (my home city) t-shirts or baseball caps from a winning athletic team (think the Bulls or the White Sox), special chocolates (e.g., Frango mints formerly produced by Marshall Field and Company and now Macy's) or a nice Parker pen.

If you are traveling to China, it's looks like the Parker Golden Dragon pen is the one to give.  The pricier the better.  And here I thought it was important to give a gift with the cache of America.  Live and learn.

Read:  In China the Pen Is Mightier When It's Pricier

How We Learn Worldly Wisdom

©Laurel Delaney 2011, "Loyola University Chicago Lake Shore Library, Reflection"

By three methods we may learn wisdom:  First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest. ~ Confucius

Expand Abroad, Locally: It's Called Selling to An Export Trading Company

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Frank Lavin, the U.S. Commerce Department’s former undersecretary for international trade and also a former U.S. ambassador to Singapore says this:

“The smaller the company, the less practical it becomes to learn a new language, deal with new tax codes and currencies and to take a huge global risk.”

Laurel here:  totally do not agree.  Think of it this way:

"Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime." ~ Chinese Proverb

Laurel's version:

"So give a small business owner a local sale with a premium transaction fee attached and you allow them to increase their revenues for a day. Teach a small business owner how to export and you allow them to go global for a lifetime." ~ Laurel's export-related twist on Chinese Proverb

Lavin's solution?  Export Now (his new company).

Here is how it works: American businesses mail their goods, on consignment, to Export Now’s U.S. facilities. From there, items are collected and shipped by sea to a warehouse in China. Once the merchandise arrives in China, business owners are free to begin advertising and selling their items on Tmall.com, an online marketplace similar to eBay.

Catch or cost?

There is an annual fee of $3,000, plus a 10 percent transaction fee on each sale.  Ouch!

Anyone ever hear of the Export Trading Company Act (1982)?

The Export Trading Company Act (ETCA) was created by Congress to enable U.S. firms to collaborate with each other to reduce their exports costs, become more efficient at exporting, and, in turn, compete more effectively in the export market.

Another definition here.

Read the entire article about Lavin's new export trading company here.

Never Sell Globally on Open Account; Here's Why

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What is open account?

Open account means you ship goods or sell services globally without any guarantee of collecting payment on a transaction.

Read more to find out why you should never sell on open account -- no ands, ifs or buts.

Blogs on Entrepreneurs | Crain's Chicago Business

Collecting Payment When Your Customer is 12,000 Miles Away

by Laurel Delaney

Posted by:  The Global Small Business Blog

LIVE From Singapore: The World Entrepreneurship Forum 2011

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The 2011 edition of the World Entrepreneurship Forum takes place in Singapore from November 2-5, 2011 at the Shangri-la Hotel, Singapore -- where 150 members from 70 countries, mainly entrepreneurs and social entrepreneurs -- will gather for three days to suggest recommendations on "Entrepreneurship -- a Driver For Innovation and Technology."

• Opening session takes place Singapore time on November 2nd at 6.00 p.m.
• "Entrepreneur for the World" Gala Ceremony on November 3rd in the evening
• Closing lunch on November 5th at 12:30 noon

WorldEntrepreneurshipForum2011Presentation.pdf (Download PDF: 2.17 MB)

Watch LIVE here (look at left sidebar where it says DIRECT Access)

Related posts:  World Entrepreneurship Forum

Full disclosure:  Laurel Delaney is a member of the World Entrepreneurship Forum

How a Week in Entrepreneurship Became Global

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In two weeks, Global Entrepreneurship Week kicks off with more than 40,000 events spread out over a seven day period in 123 countries with nearly 10 million fans across the planet.

As reported by Jonathan Ortmans for The Policy Dialogue on Entrepreneurship which brings to light various policies and initiatives to advance innovation and drive economic growth:

Above all, what excites me (from Jonathan Ortmans) about Global Entrepreneurship Week is how it has become truly global. While we know innovation itself is blind to national borders, Global Entrepreneurship Week is showing us that the innovators too seem to have more in common with each other than their own elders. They now form a gloriously messy cacophony of informal startup networks fueled by the challenges of a less predictable and more decentralized world. 

Are you involved?  Get going global here.

Monocle Columns That Take You Global

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Take a look at highlights of the weekend from Monocle (love the magazine) - from music (global/thevinylfactory.com) to design (Tokyo/designtide.jp) to film (U.S.A./The Rum Diary), a little bit of everything to open your mind.

What is Monocle?

Monocle is premium media brand with magazine, web, broadcast and retail divisions. Focusing on global affairs, business, culture and design, Monocle's mission is to keep an eye on the world.

Go here to expand.

Quietly Building New Structures In Our World

 

©Laurel Delaney 2011, "Loyola University Chicago North Shore Campus"

"Peace is a daily, a weekly, a monthly process, gradually changing opinions, slowly eroding old barriers, quietly building new structures." ~ John F. Kennedy 

7 Billionth Person In Our World: Sorry, No Vacancy?

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In the coming days marks the celebration of 7 billion people on our planet.

The milestone, to be declared on October 31, 2011, is a huge spike from less than a century ago. In 1927, the global population was only 2 billion. Only 13 years ago, the population was at 6 billion, the U.N. says.

Have a look at people, possibilities and the challenges that come with dramatic population growth here.

Time to do some planning and invest in people power!

Creative Ways to Partner With Your Overseas Customer

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Export this.  Import that.  But how do you partner with your overseas customer (or supplier) in such a way that they feel totally committed to you?

Have I got the ideas!

Read:

Become Your Customer's Partner

5 Inspiring Ways to Partner with Your Overseas Customer to Grow the Relationship

Internet Start-Ups in Brazil

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A look at Brazilian investment firms and the role they play with Internet start-ups in Brazil.

According to the New York-based Latin America Venture Capital Association, five of 32 venture capital and private equity deals in Brazil in the first half of 2011 were early stage, seed or incubator investments. In 2010, that ratio was 12 of 28.

A few interesting companies that are mentioned in the article:

• Elo7
• Akwan Information Technologies (acquired by Google)
• Peixe Urbano
• Baby.com.br

Read the entire article here.

Deciding Against a Life-Sentence of Selling Soap

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The Economist offers "the outlook for entrepreneurs in India."  And yes - we are all looking for the next Infosys.  One particular comment in the article stood out for me:

And yet, for all these barriers, new firms are emerging in unexpected places. Vinayak Chatterjee, who graduated from IIMA in 1981, first joined a consumer-goods firm. After deciding against a life-sentence of selling soap, he went on to establish Feedback Infra, an engineering and consulting firm in Delhi that specialises in infrastructure projects. With 1,250-odd staff, half of them engineers, and a list of blue-chip and government clients, it exemplifies the kind of high-end services that India could excel at. Mr Chatterjee reckons his costs are a quarter of rich-world firms’. Big parts of this business are “no different fundamentally from IT outsourcing”, he says. The priority for now, though, is to build scale at home. With about $50m of revenue, growing by about 30% a year, the firm is on its way to that goal. A flotation would be a natural next stage in a few years’ time.

Reminds me of the bold statement Steve Jobs once made to former Pepsi exec John Sculley when he tried (and succeeded) to woo Sculley to run Apple:  "... prefer to sell sugar water for the rest of your life or come with me and change the world?" (refer to 1983-1993).

So you can choose:  Become a global entrepreneur or sell soap in India for the rest of your life!

Read the entire article here.

Victoria's Secret Goes Middle East

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In its early days of international expansion, Victoria's Secret -- with the help of partner M. H. Alshaya, run by Mohammed Alshaya (operator of Aeropostale and H&M stores as well) -- will focus on the Middle East.

Big issue?  Whether or not to install fitting rooms at lingerie boutiques in Saudi Arabia.

Read the entire article here.

Related article:  Victoria's Secret:  Taking It Slowly in the International Marketplace

We Made the List: The 20 Best Small Business Blogs!

Subject:  The 20 Best Small Business Blogs

Check out these great small business blogs - from Small Business Trends to Duct Tape Marketing + more - we are delighted to be among so many thought-leader bloggers!

Go here to learn more.  Thank you to BuyerZone for making this happen!  Congrats to our peers!

Hip Hip Hooray to Free Trade!

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Barbara Weltman, founder and owner, Big Ideas for Small Business, Inc., writes an article for American Express OPEN Forum, "Why Small Businesses Should Pursue Free Trade."

We are all for BIG ideas!  And we are totally for open trade.

Related articles:

Direct Exporting:  Advantages and Disadvantages to Direct Exporting

Indirect Exporting:  Advantages and Disadvantages to Indirect Exporting

What is the Export-Import Bank of the United States?

Posted by:  The Global Small Business Blog

Exporting the Television Show Raymond

Perhaps Moscow will not find the show as funny?

Retiring Abroad? Here Are Five Top Countries

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International Living magazine rated the top five countries for (Americans) to retire abroad. Must you be an American to enjoy these places? You tell me!

Anyway, the Chicago Tribune travel section featured the International Living ratings.

The areas are rated based on real estate prices, cost of living, culture, health care, special benefits for retirees, infrastructure, safety/stability and climate.

The five countries are as follows:

1. Ecuador
2. Mexico
3. Panama
4. Spain
5. New Zealand

Check it out here.

Do Americans Still Know How to Make Stuff?

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Paul Fichter, who founded Taphandles in 1999, anticipates $11 million in revenue this year, employing 33 people at its Seattle headquarters and roughly 450 at the Chinese factory that produces the beer-marketing products it sells to breweries.

Mr. Fichter discusses the factors that led him to bring some of his manufacturing back to the United States with The New York Times.

Here's the last question posed by the interviewer:

Q. Do you think Americans still know how to make stuff?

A. Absolutely. My baby’s crib was made here, and that was important to me. I didn’t have to worry about the safety of, for example, the paint used. The key to success for the United States will be using machines instead of brawn. When we surveyed other countries, including Vietnam, the Philippines and Indonesia, we didn’t find the skilled labor base we needed. While I’m really proud of creating jobs here in America, it’s not just an emotional decision. It makes sense. 

Read the entire interview here.

Do you see this as a trend to bring manufacturing back to the United States?  We welcome your comments and insights.

Make a Sale, Research Your Market and Satisfy Your Customer: Here's How

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My recent column for Ann Dwyer's entrepreneur blog over at Crain's Chicago Business.

To make a sale, research your market and satisfy your customer

If you've missed my previous Crain's Chicago global business columns, they can be found on the right sidebar of this blog.

Related articles:

Five Ways to Satisfy Your Overseas Customer

Market Research:  Dreaded Chore, a Powerful Tool

How to Be the Happiest Person in the World

©Laurel Delaney 2011, "Bicycle on Pratt Pier"

As a kid I had a dream - I wanted to own my own bicycle. When I got he bike I must have been the happiest boy in Liverpool, maybe the world. I lived for that bike. Most kids left their bike in the backyard at night. Not me. I insisted on taking mine indoors and the first night I even kept it in my bed. ~ John Lennon

Why Global Entrepreneurship is a Good Career Move

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In many parts of the world, especially in the U.A.E., entrepreneurship is viewed as a good career move that offers high status, which also helps enable favorable media attention.

“Entrepreneurs in the UAE are looking eagerly for [business] opportunities in different sectors. They feel that they can improve their standard of living by owning a business rather than be employed,” al Mutawa told INSEAD Knowledge. “The type of business ranges from the regular to the innovative, and we even have lifestyle entrepreneurs.”

Read the entire article at INSEAD Knowledge here.

Today We Bring You: The World

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The World is a collection of private and commercial islands that form a singular expression of exclusivity. Located off the coast of Dubai and created by Nakheel, Dubai's premier developer, The World wants to become Dubai's exclusive island destination.

Learn more here.

How Delivering on Your Promises Matters in the World Marketplace

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My thoughts on the importance of delivering on your promises in the world of commerce.  It boils down to integrity, being true to your word.

Read:  Deliver on Your Promises | About.com Import and Export | by Laurel Delaney

Posted by:  The Global Small Business Blog

Revolutionary Global Entrepreneur: Steve Jobs

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On the theme of mourning the loss of Steve Jobs as well as celebrating his success, here's a look at what some promising Indian entrepreneurs had to say about him.  There's a reason for posting so much about Steve Jobs.  If you take the time to read what everyone is saying, you can set a new direction for your business and your life.

Here are a couple of comments before you click on the link below:

Anand, Kuliza, “Steve jobs is a truly inspirational leader for our generation. His greatest legacy would not just be the products he created but the number of innovative companies he will inspire.”

Kallidil Kalidasan, MindHelix, “The man who moved computers from a room to a portable box. Man responsible for the smartphone revolution! Really a sad day! Truly, Steve changed the world immeasurably!”

Kshitij Minglani, Homebuy360, “It was not about technology, not about creating a product that sells, but empowering the human race by creating change agents. And, as we leave for office today, we carry his thought in our pockets.”

Divyesh Kharade, Deltecs, “The world will not be the same any more. Steve Jobs re-defined and re-designed people’s life like never before. Truly the darkest day for all technology innovators! R.I.P Steve Jobs: An apple will be co-related to you more than Newton”

Read the entire article: Indian Entrepreneurs Salute Steve Jobs

Related article:  Why Hasn't India Produced an Innovator Like the Apple Founder?  And this is intriguing as well:   Steve Jobs, Atari Employee Number 40

The World Pays Tribute

©Laurel Delaney 2011, "Apple Store, Michigan Avenue, Chicago, Illinois, U.S.A., 10.8.11"

The tributes keep coming in from all over the world on the passing away of Steve Jobs.

I visited the Apple Store on Michigan Avenue in Chicago on Saturday, October 8, 2011 to give my farewell to Steve and condolences to Apple folks and as I stood in front of the store for half an hour, I was moved by the outpouring of emotion from people everywhere.  Some individuals prayed and set down a memento; many wrote messages on post-it-notes and affixed them to the front of the store window (as shown above; what you see is the left side of the store, the right was completely covered with post-it-notes too ... look closely at the messages and some of the items posted) and still others photographed or videod the experience.  You knew something larger than life had happened and it would never be the same again for many.

Steve was admired and respected around the globe.

Here's an interesting UK perspective:

Steve jobs:  the world pays tribute

Global Commons: Water

Photo credit:  ©Laurel Delaney 2011, "Water Fountain"

"I understood when I was just a child that without water, everything dies.
I didn't understand until much later that no one "owns" water.
It might rise on your property, but it just passes through.
You can use it, and abuse it, but it is not yours to own.
It is part of the global commons, not "property" but part of our life support system."

~ Marq de Villiers, Water, 2000

Can You Break This World Record?

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First lady Michelle Obama wants to jump into the Guinness World Records book next week by helping break the title for the most people doing ... __________________________ (fill in the blank).

She will lead hundreds of local children in doing this act on the South Lawn on Tuesday.

Find out what record she is attempting to break here or if you must, take your magnifying glass out and see the answer below.

Answer: Jumping jacks in a 24-hour period.

Posted by:  The Global Small Business Blog

The Apple iPhone 4S = Sensational!

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In memory of Steve Jobs, we feature the latest and greatest from Apple:  the iPhone 4S. 

Learn more here.  And catch:  Report:  Life As We Know It Already Changed Following iPhone 4S Debut

The World Is Insanely Sad Today: Steve Jobs Dies

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Considered the Thomas Edison of our time, Steve Jobs (1955-2011) died today.  We thank him for changing the world - making it a much better place to live.  May he rest in peace.  Our condolences to his family and all the Apple loyalists.

Wired (photo courtesy of Wired)
New York Times
The Washington Post
LA Times
CNN

Steve Jobs Wikipedia

The Global Small Business Blog:

Related posts (Apple)
Related posts (Steve Jobs)
Related posts (iPad)

Photos: Long Trip To China

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Award-winning photographer Kristopher Grunert just returned from a long trip to China and shared his exquisite new portfolio.  Go here to view.

While you are at it, check out his "My City Moves Me."  And here's a PDF file that describes some of his China photographs:  click.

Kristopher Grunert website

Amazon: Time to Go Global?

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Is Amazon testing the waters with its electronic gadgets to determine at some point whether to stay local or do a global roll out?

For Amazon, which has always been overwhelmingly focused on the U.S. and anglophone markets, the entry-level Kindle’s modest international support is actually a huge improvement. Even a year ago, when the third-generation Kindle launched, it was an English-only device.

Even in non-digital retail, Amazon’s global reach has been limited; the company is only now launching a Chinese-language bookstore, in tandem with a local bookseller. Building an international reputation takes time, partnerships and a lot of hard work.

Read the entire article:

From Kindle to Fire:  Why Amazon Needs to Go Global (Wired.com)

Related article:

Who Has the Global Edge on Wireless Reading Devices?

Best Bloopers in the Global Marketplace

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When you conduct business internationally, you absolutely must develop cultural awareness!  There's no easy way to tackle this sensitive issue but there is a way as noted below to have some fun learning about it.

Expanding internationally is a goal for most growing small businesses, yet the misuse of simple words can sabotage even your best border-crossing efforts. Just as one size doesn't fit all in importing and exporting, one word doesn't fit for all cultures, either. In fact, if used erroneously, it can cripple the most promising of international deals.

Read:  Adventures in Mistranslations from Around the World

Time by Chicago Sculptor Lorado Taft

Chicago Sculptor Lorado Taft's "Fountain of Time," ©Laurel Delaney photo

Chicago sculptor Lorado Zadoc Taft does Fountain of Time, or simply Time as featured above, measuring 126 feet 10 inches (38.66 m) in length, situated at the western edge of the Midway Plaisance within Washington Park in Chicago, Illinois (south side), in the United States.  Very close to the University of Chicago area.

Time was constructed from a new type of molded, steel-reinforced concrete that was claimed to be more durable and cheaper than alternatives. It was said to be the first of any kind of finished work of art made of concrete.  Before the completion of Millennium Park in 2004, it was considered the most important installation in the Chicago Park District.

Learn more here (including additional photos).

Posted by:  The Global Small Business Blog