What's Next For Evergrande's Creditors and What Their Collapse Means for Global Business

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A Hong Kong court on recently ordered the liquidation of Evergrande, the heavily indebted Chinese property giant. The decision comes two years after the company defaulted, setting off a financial crisis at other developers and adding to the challenges facing the world’s second-largest economy. 

The company’s dissolution raises questions about fairness for overseas creditors — which could have wider implications for foreign businesses operating in China. 

Learn how Evergrande fell (limited access).

Global Growth Stronger Than Expected in 2024

©iStock/Galeanu Mihai

According to the International Monetary Fund (IMF), global growth is stronger than expected and will be 3.1% in 2024, the same as in 2023, as the US and emerging economies have shown resilience to previous crises, with strong consumption driving the growth.

The IMF has increased its previous forecast by 0.2%, in its latest World Economic Outlook report, factoring in upgrades for China, the United States, and large developing economies.  Global GDP is expected to accelerate slightly in 2025, by 3.2%.

Read the entire piece, including a mention about shaky growth in Europe.

15 Best Foreign Languages to Learn for a Child

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In this article, discover the 15 best foreign languages to learn for a child. 

In addition, find out:

• Why language education matters in early years.
• Career opportunities for multilingual kids.
• Resources to help children acquire foreign languages.

Read on.

The Largest Exporters in the World

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Exports play an important role in the global economy, serving as a catalyst for economic growth, job creation, and international cooperation. 

Thanks to the evolution of international trade, the effects of globalization, and progress in technology, global trade has increased by around 300% over the last 20 years. 

And using data obtained from the World Bank, you can see the world's top exporters by country and their top exports, such as petroleum, cars, and medication.

Take a journey – a pictorial – of the largest exporters in the world.

Today in Global Small Business: Regional Mexican Music Crosses Borders

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

• Regional Mexican music – a catchall term that encompasses mariachi, banda, corridos, norteño, sierreño and other genres – has become a global phenomenon, topping music charts and reaching new audiences as it crosses borders.
• Take a break.  Making your own Anthropologie mirror is easy and cheap with these steps.
• Houthi propaganda is going global.
• Quote of the week: "There's no limit possible to the expansion of each one of us." – Charles M. Schwab
• Who isn't going global?  Jimmy John's joins the bandwagon.
• And the Oscars go global!

Out of the Blue

©2023 Laurel J. Delaney.  All rights reserved.

A seafood restaurant in Ireland.

A Critical Examination of Globalization

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In a recent Bloomberg Markets article titled “Everything You Thought About Free Trade Is Wrong,” Professor of International History, Quinn Slobodian was featured for his critical examination of globalization. The article explores Slobodian’s latest book, “Crack-Up Capitalism: Market Radicals and the Dream of a World Without Democracy,” challenging the prevailing narrative of free trade’s success.

Read on to learn how Slobodian questions the widely taught and assumed story of globalization that touts the benefits of free trade erasing borders and fostering prosperity.

The Power of Women Entrepreneurs Grow Global® (video with Dr. Chris Wachira)

Intellectual Property Adds Value Around the World

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Intellectual property knowledge, data and services are adding value around the world by creating a better understanding of IP.

The World Intellectual Property Organization (WIPO) is the global forum for intellectual property policy, services, information and cooperation.

Their protection services are easy to use and an effective way to get your IP registered across borders. 

When in doubt, always consult with a reputable international IP attorney.

Globalization: A Resource Guide

©iStock/wael alreweie

This resource guide is created by Library of Congress to help users understand globalization, its history, the elements it comprises, and the current trends. It also provides resources for keeping current with the latest research on the subject for further exploration.

Not sure if they are keeping this up to date but it's worth a look to see what they have shared on defining globalization, its history, trends, and databases.

Today in Global Small Business: Houthi Attacks Have Upended Global Shipping

©iStock/PeterHermesFurian

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

• Hundreds of ships are avoiding the Suez Canal and sailing an extra 4,000 miles around Africa, burning fuel, inflating costs and adding 10 days of travel or more in each direction – all caused by Houthi attacks in the Red Sea shipping area.
• Red Sea attacks:  US again hits targets as global shipping reels.
• Climate extremes are wreaking havoc on global shipping.
• Quote of the week: "It is not the ship so much as the skillful [safe] sailing that assures the prosperous voyage.” – George William Curtis
• How attacks on ships in the Red Sea by Yemen’s Houthi rebels are crimping global trade.
• With more and more shipping companies extending full or partial closures of Red Sea shipping routes due to attacks by Yemeni rebels, global trade could be seriously affected; global shipping chokepoints.

New Era In the Automotive Field

©2023 Laurel J. Delaney.  All rights reserved.

“The Thunderbird will begin a new era in the automotive field.” – Ford Div. G.M. L. D. Crusoe, during unveiling of Ford’s Thunderbird; Feb. 1954.

Achieving Sustainable Impact at Scale

©iStock/Author

In a recent policy brief published by the Dag Hammarsköld Foundation and the United Nations, the common approach to achieving the Sustainable Development Goals (SDGs) has been to track progress on a global and country-by-country basis and to argue for policy change, for more investment, and more innovation. 

These are important elements of a strategy to achieve the SDGs, but what has been missing is to design, fund, and implement investment programs in a way that systematically and effectively supports the achievement of the SDGs.

Find out how a concerted push to achieve the SDGs needs a practical scaling approach.

Inspiring Words From Jenny Zhu: "Defy the odds. Redefine obstacles. Design an inspired life."

©Women Entrepreneurs Grow Global®.  All rights reserved.

As President of Women Entrepreneurs Grow Global®, I am excited to release our latest How She Went Global® podcast episode #35 with Jenny Jing Zhu, CEO and Founder, Lush Decor Home: "Building a $100 Million Home Decor Empire:" https://bit.ly/3S3RQqe.

In this extremely insightful discussion, Ms. Zhu talks about:

🔸 How she went from a small, electricity-challenged village in China to the founder of Lush Décor Home, now a $100 million enterprise.

🔸 How she navigated the various stages of business growth.

🔸 Her international expansion plan.

🔸 What makes her most grateful.

🔸 + more ...

The HSWG® podcast is made possible through generous support from Associated Bank and Bluedog Design, which wegg® thanks.

As Jenny adds, "Defy the odds.  Redefine obstacles.  Design an inspired life."  

Tune in to find out how she did it:  https://bit.ly/3S3RQqe

Build a Dream Team, Not a Family

©iStock/Mahmudul Hassan

As leaders, integrating a "dream team" philosophy means moving beyond the "family" model to a framework where excellence, growth, and respect are more important than unrealistic loyalty and unconditionality. 

It's about creating an environment where everyone is driven to be their best, supported by the group's collective strength and ambition, understanding that not everyone may be a part of the team forever. 

Read on to learn strategies for building high-performance, growth-oriented teams.

Case Study: Pink Lily

©iStock/Kriangsak Koopattanakij 

From hiring to testing out physical retail, to ecommerce platform and social media strategy, Pink Lily provides a case study on what has worked for stages of growth and what the future holds for the company.

Good case study.  Worth a read.  Many lessons to learn.

Today in Global Small Business: Celebrating the Life of MLK Jr.

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

• Tree of life celebrates MLK with Ebenezer Baptist Church.
• 9 places where you can walk in MLK Jr.'s footsteps.
• Celebrating MLK Day in Metro Atlanta, Georgia.
• Quote of the week: "Everybody can be great ... because anybody can serve. You don't have to have a college degree to serve. You don't have to make your subject and verb agree to serve. You only need a heart..." ("The Drum Major Instinct," Ebenezer Baptist Church) – Martin Luther King Jr.
• 17 additional ways to celebrate the life of MLK Jr.
• The impact of Martin Luther King (MLK) Jr.

If You Haven't Found It Yet

©2024 Laurel J. Delaney.  All rights reserved.

"If you haven't, found it yet, keep looking." – Steve Jobs

The Power of Women Entrepreneurs Grow Global® (video)

The Next AI-Fueled Challenger to Google: Perplexity.ai

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A resource I shared during my "Laurel Delaney's Global Trade Trends Report 2024," which you can watch now free of charge, is called Perplexity.ai.

Perplexity, a startup going after Google’s dominant position in web search, has won backing from Jeff Bezos and venture capitalists betting that artificial intelligence will upend the way people find information online.

Perplexity was started less than two years ago, has fewer than 40 employees, and is based out of a San Francisco co-working space. The company’s product, which it calls an answer engine, is used by about 10 million people monthly.

And let us not forget about other up and coming AI resources:  Anthropic, the AI startup behind the chatbot Claude.

Make sure you have an AI strategy in 2024.

Considerations When Taking a Business Global

©iStock/WANAN YOSSINGKUM

There are many considerations to be made when taking a business global.

On the payroll and human resources end, important considerations involve understanding the potential labor costs, making sure the company’s culture and employee experience are in sync to avoid high rates of turnover, ensuring the business is in compliance with many new tax and labor laws in the country(ies) where the employer wishes to expand, and applying new and emerging technology in ways that will aid the scope of the payroll and human resource expansion.

These are just a few.  There are more.

Laurel Delaney's Global Trade Trends Report 2024 – wegginar® 1/10/24

©Women Entrepreneurs Grow Global®.  All rights reserved.

Join us – free of charge, https://bit.ly/3tiHRFq, to learn what trends to watch this year as you grow your global business.  wegginar® takes place at 11 AM CT on Wednesday, January 10, 2024.  See you there.

Today in Global Small Business: How AI Shook the World in 2023

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

• AI is being used for all things wonderful but it comes with a worry.
• Language translation:  what companies should know.
• Winning formulas for e-commerce growth.
• Quote of the week: "The real question is, when will we draft an artificial intelligence bill of rights? What will that consist of? And who will get to decide that?” – Gray Scott
• E-commerce worldwide, stats and figures.
• 17 goals for people and planet.

Full of Things That Have Never Been

©2024 Laurel J. Delaney.  All rights reserved

"And now we welcome the new year [2024]. Full of things that have never been." – Rainer Maria Rilke

Where the UK Monarchy Stands Globally in 2024

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For Prince William and Kate Middleton, 2023 was a major yer. The couple took on more responsibilities as senior members of the royal family, tended to their individual and joint projects and ventures as the Prince and Princess of Wales, and focused on raising their three young children. 

With the start of 2024, the couple already has their sights set on plans for the year ahead, and it reportedly includes a major trip overseas.  The trip could yield a tremendous amount of insight into where the monarchy stands globally in the year ahead.

Have a Global Point of View

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According to Talk Business, the global scene is diverse, offering a wide pool of ideas, perspectives, and talents you can explore besides opening your business to a larger potential customer base. Leverage this diversity by embracing it. How? Start by making your team more diverse so you can have a more global point of view.

Do that and here are a couple of other pointers that can help you be more competitive in the global market. 

According to Harvard, the Global Economy Is Doing Better Than Expected

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Summary from Harvard Business Review:  The economy is ending 2023 in better shape than expected. Most importantly, inflation is falling in much of the world and some central bankers have signaled likely interest rate cuts in 2024. But risks remain as higher interest rates work their way through markets. Geopolitics also looms large.

As 2023 comes to a close, the global economy is, in many ways, doing better than expected. The U.S. not only avoided a recession but has grown at a steady clip. Unemployment has been low and, crucially, inflation is falling in most of the world.

And yet, the economic outlook remains deeply uncertain.  Find out why here.

On another note, Harvard seems to be turning their cheek to plagiarism, attempting to take the low road on an issue that is so important to all authors, not just Presidents of Ivy Leagues universities.  Shame on them.  Read this piece and tell me that the statement they make is true:  "First and foremost, we thank [Harvard University] President Gay for her deep and unwavering commitment to Harvard and to the pursuit of academic excellence."  Academic excellence?  Really?  Since when is any form or shape of plagiarism okay? 

Top 2024 Best Wishes, Stories, Status and Quotes

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Save these for next year :-).  Here are the best wishes, messages and quotes to share.  And I don't think they are ChatGPT generated.  But I wouldn't bet on it.

Happy New Year 2024 From the Global Small Business Blog!

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Resolve to Be Happy

©2023 Laurel J. Delaney.  All rights reserved.

"Your success and happiness lies in you.  Resolve to keep happy, and your joy and you shall form an invincible host against difficulties." – Helen Keller 

Global Market Entry Strategies for 2024

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Earlier this year, Elon Musk’s Starlink expanded operations into Nigeria – Africa’s largest country. In 1990, McDonald’s explored Russia and opened its first outlet in Moscow. In 2006, Vodafone – a UK-based company – launched in Italy.  Why?

Find out here to discover how you too can enter international markets.

Splashy AI-Powered Wearable

©iStock/CoreDesignKEY

Humane recently announced that the AI Pin, its splashy AI-powered wearable, will start shipping in March 2024. People who placed priority orders will get their devices first, and Humane says it will ship orders based on the date of purchase, according to a post on X (formerly Twitter).

The device can pick from different AI services to respond to your queries — all without forcing you to look at a screen.

Cool but not cheap.

Female Founders: A Missed Opportunity That The World Needs to Wakeup On

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Investing in women entrepreneurs and founders is a huge opportunity that both financial and ESG strategies have historically missed. Women-led companies yield better returns on investment (ROI), generating 78 cents for every dollar of funding; male-founded startups generate just 31 cents, according to research by BCG and MassChallenge.

Women entrepreneurs are also more likely to create innovative solutions to address social needs. These impact-driven businesses grow faster [especially if they expand internationally] and make more money while solving real-world problems, a win-win on all accounts.

Women leaders, on average, hire more women, and retain talent by supporting the people on their teams and checking in on their overall well-being. At their best, women foster a culture of good intentions, empathy, acceptance, inclusiveness, and non-judgment.

Holiday Destinations the World Over

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Tokyo, India and the Caribbean are among the best places to go at Christmas — but there are plenty of destinations closer to home too.  Whatever you are looking for, you will find it here.

Merry Christmas To All!

©2023 Laurel J. Delaney.  All rights reserved.

"May the spirit of Christmas bring you comfort, peace, love, and happiness." – Laurel J. Delaney

Peace on Earth and Goodwill To All

©2023 Laurel J. Delaney.  Chicago, 12/22/23.  All rights reserved.

"Season's greetings and happy holidays to all!" – Laurel J. Delaney

Love, Peace and Joy This Holiday Season

©2023 Laurel J. Delaney.  All rights reserved.

"Wishing you love, peace and joy this holiday season." – Laurel J. Delaney

How Food Globalization Serves Up the World on Your Plate

©iStock/SasinParaksa

When people hear the word “globalization” they probably think of giant container ships, wonky economic terms like “offshoring” and “trade deficit,” or geopolitical tensions and agreements. 

And, to be sure, Cato’s Defending Globalization project covers all of that stuff and more. Yet, as Cato explains in a new essay for the project, there may be no better symbol of real globalization—and its many benefits—than the restaurant down the street. 

How to Make the Biggest Impact Based on Cultural Norms

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Adeola Adewusi credits his “cultural dexterity” to living and working on five continents. 

The senior HR director, Americas at Stanley Black & Decker told HR Brew it has served him well as a people professional because he “can understand the dynamic of a particular culture and what’s important to them.” 

With Stanley Black & Decker, Adewusi oversees about 2,500 employees along the supply chain in nearly a dozen countries. All of Adewusi’s work on HR policies and programs and how he leads is informed by his cultural competencies, and it’s important to him that HR professionals don’t forget the human connections that make the function so special.

Oh the Power of Women Entrepreneurs Grow Global® (video)

Today in Global Small Business: Top Books 2023 From Foreign Affairs' Reviewers

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

• The best of books 2023 from Foreign Affairs' reviewers.
• NFL's global expansion plan.
• Thai-based Minor Hotels made a global splash in 2018 and it plans to keep growing in whatever way it can.
• Quote of the week: "Today a reader, tomorrow a leader." – Margaret Fuller
• Solutions for avoiding freight congestion at the U.S.-Mexico border.
• Priorities for an early stage AI strategy.

Oh! Like a Wreath

©2023 Laurel J. Delaney.  All rights reserved.

"Oh! like a wreath, let Christmas mirth To-day encircle all the earth, And bind the nations with the love That Jesus brought from heaven above." – Maud Lindsay

Best Classical Music 2023

Outlook for Worldwide eCommerce Sales in 2023 and Beyond

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What is the outlook for worldwide and country-by-country retail and ecommerce sales in 2023 and beyond?

Worldwide retail and ecommerce sales will see a decent rebound for digital sales and a slow deceleration for overall retail this year. Most national markets are also returning to normalcy, but a great deal of country-by-country variance remains.

What's next?

What Role Does Digitization Play in Global Expansion?

©iStock/guirong hao

Apurva Palnitkar, Senior Director Marketing, GoDaddy India says that in today's technology-driven world, the adoption of digital tools and strategies has become paramount for small businesses seeking to thrive and expand their presence beyond local boundaries.

SMEs are successfully integrating digital tools into their operations in order to gain competitive edge, improve efficiency, reach a wider customer base, and most importantly in order to go global more effectively. 

Discover the few advantages of going digital as a global SME and make sure to assess your needs, budget, and resources when selecting and implementing digital tools to ensure they align with your business goals. 

Who Are the Top eCommerce Companies in USA?

©iStock/sasirin pamai

The US is considered the world's most developed market for online shopping and is a global standard for eCommerce. The eCommerce segment accounts for over $1 trillion in annual retail sales in the US, or 13% of the total retail industry and $5 trillion globally.

Here's a list of the top eCommerce companies in the US in terms of web sales. 

Today in Global Small Business: The New ChatGPT Challenger

©iStock/Supatman

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

• The new ChatGPT challenger.
• Meta launches new AI tools for Facebook.
• The future of AI through the lens of the recent OpenAI debacle.
• Quote of the week:  "No one technology [OpenAI’s ChatGPT and Google’s Bard] has ever surpassed everything else."– iRobot co-founder Rodney Brooks
• The promise and potential pitfalls of increasingly powerful AI tools.
• The North star for the future of AI (requires subscription).

Hope for the World

©2023 Laurel J. Delaney.  All rights reserved.

"[Christmas] means not just hope for the world, despite all its unending problems, but hope for you and me, despite all our unending failings.” ― Tim Keller

Christmas Playlist To Put You In the Mood for the Holidays

Moving From the 'Take-Make-Use-Waste' Model to an Efficient Circular Economy

©iStock/Chavapong Prateep Na Thalang

The circular economy is pivotal for achieving climate and sustainable development goals and must be included in the COP28 outcomes. 

With this paper, International Chamber of Commerce (ICC), on behalf of the global business community, underscores the importance to move from the 'take-make-use-waste' model to a sustainable, resource-efficient circular economy.

A Recalculation of Globalization

©iStock/Gerard1610

The current interconnected global economic system just isn't working, some economists say. They are calling for a recalculation of globalization, and what it means to be wealthy, independent, and secure.

Globalization has had a rough time lately. Worldwide, just-in-time supply chains suffered under stiff tariffs. COVID-19 shutdowns and travel restrictions caused further distress. Now, the war in Ukraine and sanctions on Russian companies are making matters even worse. Inflation and price increases have made energy and food more expensive. Ordinary customers, especially the poor, are suffering.

Does Germany in particular have to rethink globalization?

Gnara: Innovative Solutions to Apparel Problems For Active Women (wegginar® 12/6)

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

Pee zipper?  What's that?  Find out 12/6 at 11 AM CT at the next wegginar®, "Building and Scaling a Global IP-Protected Brand," with co-founders of Gnara, Georgia Grace Edwards and Charlotte Massey.

Let's discuss the cool factor about each of the co-founders.

Georgia Grace (GG) Edwards is the CEO and Co-Founder of Gnara, a venture capital-backed, Colorado-based startup whose mission is to help everyone answer nature’s call – quite literally. GG got the idea for the GoFly – Gnara’s internationally patented zipper technology – while working as a glacier guide in Alaska. Prototyped from her college dorm room, the GoFly can now be found in Gnara apparel on the floors of the largest retailers in North America, including Moosejaw Mountaineering, Title Nine, and REI. GG grew up in the Appalachian Mountains and brings experience as a Fulbright Fellow, Wild Gift Fellow, Futurist Project Fellow, economic consultant, and TEDxTalk speaker. 

Charlotte Massey is the Co-Founder and COO of Gnara Inc, an award-winning apparel and zipper technology brand making the outdoors more accessible through internationally patented pee zipper designs. Gnara won the 2022 and 2023 Outdoor Retailer Innovation Awards, $100,000 MassChallenge Diamond Award, and Women’s Health Fitness Awards. Charlotte is a Tory Burch Fellow and Thomas J Watson Fellow with a professional background in digital marketing and community organizing. Charlotte grew up mountaineering in Washington and has been part of expeditions to high peaks around the world, including Argentina’s Acongaua. She was named 2023 Forbes 30 Under 30 Local Seattle.

Beyond learning what a pee zipper is, here's what else you will discover during the wegginar:

• How to decide if IP is right for you
• Navigation of global trademarks and patents through the IP process
• How to go from granted to garnering licensing interest

Join the wegg® team and GG and Charlotte on Wednesday, December 6th at 11 AM to stay in the know about Gnara and what it takes to build and scale a global IP-protected brand.  Free of charge I might add!  Yes! 

To learn more and to register, visit here.

Today in Global Small Business: Navigating Global Divergencies

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

• Navigating global divergencies.
• Global growth to slow in 2024.
• Banks predict slower growth for global economy in 2024.
• Quote of the week:  "Only those who will risk going too far can find out how far one can go." – T.S. Eliot
  
• Prepare for stalling or divergent global growth in 2024.
• Finding pockets of growth in fashion as uncertainty reigns.

Weather in Ireland

©2023 Laurel J. Delaney.  All rights reserved.

"We may have bad weather in Ireland, but the sun shines in the hearts of the people and that keeps us all warm.” – Marianne Williamson

Innovation Capability Has a Positive Impact on International Expansion for Global SMEs

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According to the research paper, "Pace of innovation and speed of small and medium-sized enterprise international expansion, there is compelling evidence that innovation capability has a positive impact on the international expansion of SMEs.

Unsurprisingly, the relevant literature displays an increasing interest in SME innovation activities and how they influence a firm’s international activities. Hitherto, research has focused on the earliness of entry into a foreign market. For example, the literature on born globals argues that SMEs with innovative products internationalize soon after their inception to benefit from opportunities emerging before competitors enter the same markets.

The authors go on to say that SMEs with a greater propensity to innovate by introducing new products and processes tend to internationalize in a wider range of foreign markets. This extensive internationalization in turn, allows these firms to gain new insights from diverse foreign markets, in turn improving their technological learning and innovation capabilities.

Read the entire research paper:  "Pace of innovation and speed of small and medium-sized enterprise international expansion."