Importing From and Exporting To China

©iStock/pat138241

Sure many companies are pursuing alternative sources of supply – Vietnam, India and Malaysia, for example.  Yet for those who are new to importing from and exporting to China, Freightos provides some sound advice – the A to Z on working with China.  What you need to know and then some.

Check it out.

Top Global Cities for Business Opportunities

©iStock/bloodua

Each of the cities listed below in the top global business cities has its strengths and weaknesses, but each of them is well suited for nurturing international capital and talent.

It boils down to this:  Everything that allows investors, businessmen and businesswomen around the world to use up-to-date market information and to some extent predict business development makes a global business city or a best city to do business in.

1. Hong Kong
2. London
3. Paris
4. Frankfurt
5. The Netherlands
6. Tokyo
7. Singapore
8. Oslo
9. New York
10. Berlin
11. Dubai
12. Toronto
13. Mumbai 

Read more about how to start your global business in a best city worldwide.

Today in Global Small Business: Pride 2023

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

• Pride Chicago.
• Pride New York.
• Pride San Francisco.
• Quote of the week:  "I want to do the right thing and not hide anymore. I want to march for tolerance, acceptance and understanding. I want to take a stand and say, 'Me, too.'" – Jason Collins
• Pride France.
• Pride around the world.

All Forms of Discrimination Are Equivalent To

©2023 Laurel J. Delaney.  All rights reserved.

“In the end, anti-black, anti-female, and all forms of discrimination are equivalent to the same thing: anti-humanism.” —Shirley Chisholm

AI Generated Rock Music: On the Edge

How Can Global Businesses Best Account for Local Conditions As They Grow?

©iStock/MOZCO Mateusz Szymanski

Harvard Business School assistant professor Alexander MacKay studied Uber’s strategies as it entered new markets around the world. He wanted to understand how global businesses can scale fast and survive for the long run.

Tune in here for a conversation he had on Cold Call with Brian Kenny. Or read the transcript here.

Free Access to Global Trade Data

©iStock/SHansche

The United Nations Comtrade database aggregates detailed global annual and monthly trade statistics by product and trading partner for use by governments, academia, research institutes, and enterprises. 

Data compiled by the United Nations Statistics Division covers approximately 200 countries and represents more than 99% of the world's merchandise trade. Information can be extracted in a variety of formats, including API developer tools for integration into enterprise applications and workflows. 

Paid subscribers receive access to additional functionality to improve efficiency and specificity.

National Trade Estimate (NTE) Report 2023 on Foreign Trade Barriers

©iStock/takenobu

The National Trade Estimate (NTE) Report 2023 on Foreign Trade Barriers covers significant barriers, whether they are consistent or inconsistent with international trading rules.  The NTE Report also discusses key export markets for the United States, covering 60 countries; the European Union; Taiwan; Hong Kong, China; and, the Arab League. Omission of particular countries and barriers does not imply that they are not of concern to the United States.

How do you define trade barriers?

Trade barriers elude fixed definitions, but may be broadly defined as government laws and regulations or government-imposed measures, policies, and practices that restrict, prevent, or impede the international exchange of goods and services; protect domestic goods and services from foreign competition; artificially stimulate exports of particular domestic goods and services; fail to provide adequate and effective protection of intellectual property rights; unduly hamper U.S. foreign direct investment or U.S. electronic commerce; or impose barriers to cross-border data flows.

Read the entire report here.

Today in Global Small Business: Have a Proud Juneteenth

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

• Juneteenth commemorates African American freedom and emphasizes education and achievement.  Have a happy and proud one.
• As the nation celebrates Juneteenth, it’s time to get rid of these three myths about slavery.
• The complicated history of Juneteenth.
• Quote of the week:  “"Juneteenth has never been a celebration of victory or an acceptance of the way things are. It's a celebration of progress. It's an affirmation that despite the most painful parts of our history, change is possible—and there is still so much work to do." – Barack Obama
• When did slavery end?  The answer is elusive.
• Juneteenth became a federal holiday two years ago. What does the day commemorate?

Love Knows Not Its Own Depth

©2023 Laurel J. Delaney.  All rights reserved.

“…love knows not its own depth until the hour of separation.” – Kabil Gibran

E-Commerce SMBs Go Global

©iStock/CherriesJD

Just by clicking buttons, thousands of small businesses are daring to go global with their wares through e-commerce and this has all been brought on by the pandemic.

According to the ‘Amazon Seller Report 2022’ by Payoneer a FinTech company and SellerApp, the year 2022, approximately 63% of small and medium-sized businesses (SMBs) are present on global marketplaces, contributing to nearly 60% of their overall retail sales. 

Learn why e-commerce SMBs are going global, while the US, UK and Middle East are getting even hotter. 

In addition to AI, Five Key Trends That Will Change How You Invest and Lead Your Global Business

©iStock/NicoEINino

Barron's put together a package to spur investors to ponder how changes under way today may cause dominoes to topple years from now, creating new winners and losers across the investing landscape. 

They asked five investing pros to share their top stock picks; they asked Barron’s Roundtable member David Giroux of T. Rowe Price for his top transformative trends; and they laid out how to find a good thematic fund. 

What's more important and related to this blog, is they also explore five key trends that will upend economies and companies.  

It's not just AI.  Important to read.

Reduce Global Business Expenses: Hire Abroad

©iStock/Meeko Media

As a global business owner, it’s imperative to always look for practical ways to improve your business, especially when it comes to saving money. One practice to reduce business expenses is hiring abroad. This is a method that many businesses, both small and large, can use to hire talented employees while saving money on payroll. 

Learn more about reasons to hire abroad, the rise of remote workers, and the removal of barriers using International PEOs.

Empowering Women Entrepreneurs (In-Person Chicago Event 6/20/23)

© 2023 EXIM Bank.  All rights reserved.

While women-owned businesses have grown, there are specific issues women entrepreneurs still face.

Join the Illinois District Export Council in partnership with First Women’s Bank, Women Entrepreneurs Grow Global, Koval Distillery and The Export-Import Bank of the United States on Tuesday, June 20, 2023 at 3 PM CST for a panel discussion and networking session.

Discussion points:

• How to navigate the challenges of equity distribution and obtaining financing.
• Understand the critical role community banks provide
• Discover how a mission-driven bank is different than other banks.
• Learn from other women entrepreneurs who have utilized other resources to help grow their businesses.

There will be a networking session for all attendees following the panel session. We hope you will join us on June 20th at 3 PM CST.

I [Laurel Delaney] will be moderating one of the panel discussions. Look forward to seeing you in person.

To learn more and to register, visit here.

Today in Global Small Business: How to Start an Import-Export Business

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

• How to start an import-export business.
• Alternative data transforming SME finance.
• How to move the needle on innovation.
• Quote of the week:  “Thanks to the Internet, setting up an import/export business can be ridiculously simple and very profitable.” – Laurel J. Delaney, President, GlobeTrade.com
• UpLink is the innovation platform for people and planet.
• Sustainability and energy innovation.

Love Is the Flower

©2023 Laurel J. Delaney.  All rights reserved.

"Love is the flower you've got to let grow." – John Lennon

Making Events More Affordable for Global SMEs

©iStock/Caiaimage/Sam Edwards

SMEs are keen to get back to attending in-person business events after Covid, but it’s often an expensive exercise. What can organizers and attendees do to bring down the barriers to entry? 

According to a survey by American Express Global Business Travel, SMEs are planning more meetings and events than any other kind of firm, with 65% budgeting to spend more on such activities this year compared with 2022.  

As one event planner put it:  "My advice to planners is to review why events are on and how you can reduce the number of events hosted, while creating more experiential, unique events that maximize participation"

Learn more about how to maximize participation at events, use machine learning to streamline events, and offer assistance to global SMEs.

Global Business That Operates On a Local Scale

©iStock/AlizadaStudios

The Coca-Cola Company claims they are a global business that operates on a local scale, in every community where they do business.

How do they do it?  

We are able to create global reach with a local focus because of the strength of the Coca‑Cola supply chain, which comprises our company and our bottling partners worldwide.

Learn more about The Coca-Cola System.

Women Are Breaking Barriers in Global Entrepreneurship

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Women leaders are making their mark on the global stage, breaking barriers and transforming global entrepreneurship.  Why just take a look at all the successful global women entrepreneurs highlighted at Women Entrepreneurs Grow Global®! 

As gender equality gains momentum, global women leaders are dismantling stereotypes, reshaping industries, and forging new paths to success. 

Over the years, the entrepreneurship landscape has been predominantly dominated by men, with women facing numerous obstacles and biases. However, a new wave of visionary women leaders is challenging the status quo, leaving an indelible impact on both local and global economies. 

From founding disruptive startups to leading multinational corporations, these trailblazers are proving that gender is no impediment to success. Their journeys have exemplified resilience, authenticity, and a commitment to using their influence for positive change.

Lindsey Laurain Talks About the Ups and Downs of (Global) Entrepreneurship in a wegginar® 6/7/23

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

wegginar® presenter Lindsey Laurain is the founder of ezpz, creator of innovative, safe, developmentally appropriate feeding gear for little ones.  She will be discussing how to:

• Start your business from scratch
• Develop your team
• Overcome challenges
• Build a culture of innovation

To learn more and to register, visit:  https://bit.ly/422NsMj (free of charge thanks to sponsors Associated Bank, FedEx, bluedog, Global Care Clinical Trials and 1706 Advisors).

Today in Global Small Business: How Small Companies Can Reach Global Audiences

©iStock/Feodora Chiosea

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

• How small companies can reach global audiences.
• Small business report 2022 from eBay.
• World Trade Center Utah is helping small businesses go global.
• Quote of the week:  “Every problem is a gift — without problems we would not grow.” – Anthony Robbins
• Where are small businesses flourishing globally?  Find out.
• SMBs are going global.  Wonder why?

Eat Dessert First

©2023 Laurel J. Delaney.  All rights reserved.

"Absolutely eat dessert first. The thing that you want to do the most, do that." – Joss Whedon

Could Protectionism Make the World Less Resilient, More Unequal, and More Conflict-Prone?

©iStock/William_Potter

There is no strong evidence of a retreat from globalization, but international trade and the multilateral system that underpinned it are under attack, and their future depends on policy choices.

Today, there is still no conclusive evidence that international trade is deglobalizing. When measured in US dollars, global trade growth slowed after the global financial crisis in 2008–09 and declined sharply at the onset of the pandemic in 2020. But since then trade has rebounded to the highest value ever.

Read on to see how there are some growing threats to global trade.

Tools That Can Make Your Writing Easier

©iStock/Михаил Руденко

Different writing projects call for different tools.  Below I [Laurel Delaney] have gathered 8 writing tools that can take you from brainstorming to final editing on any project you are working on.

See which of the following belongs in your writing toolkit – maybe it’s all of these. 

8 Tools That Can Make Your Writing Easier

Viking Genes for Sale and For Export

©iStock/Everste

Viking genes are for sale and for export.  Danish sperm banks have grown into a successful export industry. Now Norway seems to be following the same path.

The Norwegian Directorate of Health (link is in Norwegian) has allowed a fertility clinic, Livio, to export donor sperm to its clinics in Sweden and Iceland. Sperm from a Norwegian donor can be used to create six Norwegian families, six Swedish families, and two Iceland families.

Expect a large influx from single women who want to get pregnant with the help of donor sperm.

Japan Is Red Hot With Tourists and Investors

©iStock/DoctorEgg

Japan, declares tourist after tourist, investor after investor, is red hot. The yen is tumbling, the shopping is amazing, the stock market is flying, the sushi is cheap. It is also, perhaps, the only place in the world right now where you can buy a globally successful $20bn company for free.

Like all good tricks, this so-far-hypothetical $20bn great gratis grab takes a bit of setting-up. For a start ...

Today in Global Small Business: ChatGPT Has Thrown a Wrench Into SEO

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

• When search was king, companies could turn to SEO—and paid ads—to land atop search results. ChatGPT has thrown a wrench into that arrangement.
• Why e-commerce has plenty of room to run, especially global.
• For retailers, will your e-commerce tools survive federal data privacy regulations?
• Quote of the week: “In a few years artificial intelligence virtual assistants will be as common as the smart phone.” – Dave Waters
• Five (5) charts showing what's driving e-commerce growth.
• On Memorial Day 2023, honor the men and women who have served our country, USA, with bravery.

Watching My Cat

©2023 Laurel Delaney.  All rights reserved.

"Just watching my cats can make me happy." –  Paula Cole

What to Choose When Expanding Your Business Globally: Local Entity or PEO?

©iStock/Caiaimage/Martin

You can establish a presence in a new and unfamiliar market yourself by setting up a local entity.  Alternatively, you can partner with a Professional Employer Organization (PEO) to expand into the new market far more quickly with less risk and without needing a full-fledged local presence. 

Here are some tips to help you decide whether a local entity or PEO is right for your business's global expansion. 

Going Global Doesn't Have to be Complicated

©iStock/Dmitry Kovalchuk

To go global, businesses must navigate complex regulatory environments, cultural differences, language barriers, and logistical issues, not to mention the task of finding customers and getting paid.

Given the potential benefits of expanding internationally, the effort is worth it on mastering the above.

How can businesses best prepare for and navigate the inherent challenges of global growth?  Prepare a global strategy and take the time to consider all aspects of going global to ensure success. 

A Blast From the Past: We Are the World (Music Video)

How to Change the World

©iStock/anyaberkut

As Ryan Holiday says for Entrepreneur, "Each of us has the power to contribute to a problem or to be part of the solution. The decision to reform oneself is not an isolated one. It may matter only a tiny bit in the big scheme of things, but it does matter.  All the decisions we make as [global] business owners matter. We have agency, we have a say.  The question we all face, then, is obvious: How will we use it?"

That's how to change the world.  Read on to learn why all business is global business today.

Today in Global Small Business: Making International Shipping Easier For Brands and Retailers

©iStock/Tryaging

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

• Making international shipping easier for brands and retailers.
• General e-commerce statistics for 2023 and forward.
• Design thinking was supposed to fix the world. Where did it go wrong?
• Quote of the week: "When ships reduce their speed they use less fuel, resulting in fewer greenhouse gas emissions and other pollutants; the global shipping industry accounts for nearly 3 percent of global greenhouse gas emissions." – Tatiana Schlossberg
• The state of AI in 14 charts.
• Strange maps.

I Must Have Flowers

©2023 Laurel J. Delaney.  All rights reserved.

“I must have flowers, always and always.” – Claude Monet

Georgia Knows How to Break Into Export Markets

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Twenty-seven (27) Georgia companies were honored this week (May 18, 2023) with an annual recognition for their expansion of export sales into new markets over the previous year. 

While some were seasoned exporters that simply found buyers for their goods or services in one additional new country, at least three of the firms sold internationally for the first time ever in 2022. 

There are so many winners!  Check them out here.

Who's Courting Who to France?

©iStock/Oleksil Liskonih

French President Emmanuel Macron and Tesla CEO Elon Musk will be attending the “Choose France” Summit, which is set to not only unveil roughly 13 billion euros of new business investments into the country but also tout France as the market of choice for expanding businesses in Europe.

Meanwhile, they had a little meeting – not sure who's courting who. May the clean-shaven man earn whatever they are going after!

Alongside its dramatic production ramp, Tesla has been growing its global market presence in parallel. This has included founding new facilities outside its home market of the United States and entering countless new markets with its popular Model 3 and Model Y vehicles. 

Create and Customize Quality Trips From A to Z From All Over the World

©iStock/VV Shots

Start creating and customizing quality trips from A to Z all over the world in the blink of an eye with the next generation connected-trip operator Worldia, a B2B2C connected-trip company.

The Paris-based startup plans to continue its mission of “transforming the travel industry” for travel professionals and consumers, said Grégoire Pasquet, the company’s co-founder and CEO. 

A key player in the French market, Worldia has also successfully expanded into the German, Belgian and Spanish markets and has done a first pilot in the US.

The Midwest (USA) Is the Gateway to the World

©iStock/wellesenterprises

With a globally connected location and robust industry supply chain, the Midwest, in particular Michigan, is the gateway to the world.  In fact, $61.1 billion in total goods was exported from Michigan in 2022 alone. 

And while Michigan is home to many global corporations, the state’s small business community is actively involved in contributing to Michigan’s presence in the global market. Case in point: nearly 89 percent of Michigan exporters are small businesses.

Yes, that's right.  Small business exporters are driving growth for Michigan.  Check out how Michigan can help you grow your exports.

Today in Global Small Business: Simple Ideas for Expanding a Business Globally

©iStock/Nuthawut Somsuk

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

• Simple ideas for expanding a business globally.
• Going global is an adventure.
• Avoid these 3 mistakes when going global.
• Quote of the week: "America's support for human rights and democracy is our noblest export to the world." – William Bennett
• What's a must for successful companies?  To go global.
• A guide to going global.  And another one that is considered the bible for exporting. 

The Best Thing To Hold Onto

©2023 Laurel J. Delaney.  All rights reserved.

"The best thing to hold onto in life is each other." – Audrey Hepburn 

How To Be Less Dependent on China

©iStock/Oleksii Liskonih

Every manufacturing leader or CEO should be preparing for the worst should things fall apart in China by doing five critically important things. Things that need to happen now – it’s too late once conflict erupts. 

To become more self-reliant and avoid future supply chain storms, invest in these five areas to develop the right strategy.

What Is An Export Trading Company?

©iStock/krblokhin

An export trading company is an independent company that provides support services for firms engaged in exporting. This may include warehousing, shipping, insuring, and billing on behalf of the client.

Find out what else an Export Trading Company can help with.

Learn how Warren Buffet is investing in Japanese Trading Companies.

Prospective Hindsight (TED video)

The Biggest and Best Entrepreneurial Excellence Forum 2023 in Vegas Hosted by the Women Presidents Organization

More than 750 women business owners from around the world have arrived in Las Vegas for their annual Women Presidents Organization Entrepreneurial Excellence Forum 2023 to network, learn and grow together. This is the most amazing program of the year for WPO.   And I [Laurel Delaney] am so honored to have the opportunity to attend.  Full disclosure:  I am serve as the Chicago Chapter Chair for the Women Presidents Organization.

I am really looking forward to connecting with the best and brightest women business owners from all over the world and at the same time have an opportunity to moderate a panel discussion on "Intentional Growth Beyond Borders" with two international stars:  Caroline Tompkins, President and CEO, Forum for International Trade Training (FITT) and Laura Didyk, Vice President, Client Diversity, Business Development Bank of Canada (BDC).

If you are attending, ping me to meetup and if you are not yet a WPO member, learn more here about joining so you can attend next year's Forum.

Today in Global Small Business: AR Translation Glasses Will Widen Your Global Reach

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

• Google AR (augmented reality) translation glasses: why it's finally time for them to become reality.
• Expanding your e-commerce business globally.
• Top 10 10 most in-demand job skills right now, according to the World Economic Forum.
• Quote of the week: "I do think that a significant portion of the population of developed countries, and eventually all countries, will have AR experiences every day, almost like eating three meals a day. It will become that much a part of you." —Tim Cook
• Country guides by DHL.
• The rise of the fandom business, making it a key aspect of the global economy.

Beer Holder

©2023 Laurel J. Delaney.  All rights reserved.

"Beauty is in the eye of the beer holder." –  Kinky Friedman

Robert Herjavec Wasn't Born a Successful Global Entrepreneur

©iStock/Biod

To get what he wanted in life, Robert Herjavec discovered at an early age that he needed to step outside his comfort zone. The world, he said, would not beat a path to his door.

The charming, articulate executive [Robert Herjavec] we see today on ABC’s Emmy Award-winning show “Shark Tank” is a far cry from the shy, uncertain young man who grew up in Canada after fleeing communist Yugoslavia with his parents.

Learn more about Robert Herjavec and how he earned the 2023 Asper Award for Global Entrepreneurship.

Is Your Startup Ready to Go Global?

©iStock/metamorworks

While the most successful companies tend to follow the money, that shouldn’t be your sole motivation for going global. 

There are five main indicators for determining if your startup is ready to go global. If one or two of the indicators here apply to your business, you’re definitely headed in the right direction. 

But before you take the leap, you need to be aware of the challenges and risks. Start by asking yourself these questions.

Chewy Eyes International Expansion

©iStock/Liudmila Chernetska

“International expansion has long been a part of our strategy,” said Sumit Singh, Chewy’s CEO, during the [most recent earnings] call. “It was a matter of when, not if Chewy would take our superior value proposition into new geographies.”

Details about which markets Chewy plans to expand to were scarce but Singh said the company is considering “entry markets that possess attractive characteristics for our initial international expansion plans.”  

Making the World a Better Place (wegginar® 5/3/23)

©2023 Women Entrepreneurs Grow Global

Who doesn't want to make the world a better place?  Founder of OMSutra, Jyoti Jaiswal, will be talking about how to get started and weave in positivity and consciously crafted design to make her point.

Join Jyoti and wegg® free of charge on Wednesday, May 3rd at 11 AM CT.  To learn more and to register, visit:  https://bit.ly/3UtqomN.  Or, to move even faster, capture the QR code.  See you there!

Today in Global Small Business: Inspirational Songs For Global Entrepreneurs

©iStock/cienpies

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

• Music can benefit your business, as it has for these 50 entrepreneurs. Check out their picks for inspirational songs (hint:  "My Way" by Frank Sinatra).
• Global retail ecommerce forecast 2023.
• ChatGPT as a thinking partner.
• Quote of the week: "One good thing about music, when it hits you, you feel no pain." – Bob Marley
• Developing positive character.
• Charting the global economy:  Inflation in US remains stubborn.