Benefits of Internationalization for SMEs

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One of the primary benefits of internationalization for SMEs is the access it provides to new markets. By expanding beyond domestic borders, you can tap into larger customer bases and diversify your revenue streams. You also challenge your own business to improve and excel in order to compete in this broader market", says Michiel Greeven, EVP Global Commercial at DHL Express. 

With DHL's latest white paper, they offer SMEs a practical, easy-to-use toolset to prepare for global expansion.  Check it out here.

Today in Global Small Business: Reflect on the Blessings in Life and Express Gratitude

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

• Thanksgiving is a time to reflect on the blessings in life and express gratitude.  Take a pause right now to think about what you are grateful for.  I am grateful to all of you for your readership.  Thank you.
• Thanksgiving quotes on gratitude.
• Quote of the week: "Be present in all things and thankful for all things." – Maya Angelou
• Gratitude can change your brain.
• Ways to serve others this Thanksgiving.
• Gratitude is powerful and expressing it can impact people physically and mentally.

When Angels Visit Us

©2024 Laurel J. Delaney.  All rights reserved.

"When angels visit us, we do not hear the rustle of wings, nor feel the feathery touch of the breast of a dove; but we know their presence by the love they create in our hearts." – Mary Baker Eddy

Orange Scarcity Forces Producers and Brands to Rethink Global Strategies

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The orange supply chain faces an unprecedented crisis – a scarcity which has forced major producers and brands to rethink their global strategies to meet demand.

With the soaring cost of orange juice, up 130% year-on-year according to Mintec's Benchmark Prices, brands are turning to innovation to offset challenges.

The orange juice market faces significant challenges, from environmental disasters to persistent plant diseases.  While brands and producers are finding ways to adapt, uncertainty remains.

Is Your Global Strategy Focused on the Wrong Things?

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In today’s ultra-competitive business climate, companies expanding their global footprint need to manage resources efficiently and base their plans on validated options so goals are achieved and expectations are met.

Some questions to ask yourself:

1. Is your leadership aligned from the onset?
2. Are you seeing the big picture and thinking holistically?
3. Are you focusing on the right drivers and challenges?

You want to make sure you are navigating the right path to global growth. To get the details on assessing and improving your global enterprise strategy, download this e-book.

Under Pressure: Japan's Startups Want to Raise More Money and Go Global

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Total investment in Japanese startups increased 25% between 2013 and 2023, reaching $5.4bn in 2023, according to Initial, a Japanese VC data provider.   

But Japan’s venture capital sector is still small. VC investment is about half that of South Korea’s, for example, and only 3% of the US market.

Historically Japan’s startups have focused on serving the domestic market, a barrier to attracting foreign VC investment. The government is pushing its startups to plan for global expansion through accelerators and mentorship programs.

Japanese corporate VCs are thinking more globally, some from day one.  Find out why.

Would US Tariffs End or Even Reverse the Era of Trade Liberalization?

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Would US tariffs end or even reverse the era of trade liberalization begun in the 1980s? Perhaps not, according to Walter Frick for Bloomberg.

Bloomberg Economics’ model of Trump’s proposed tariffs expects that other countries will offset most of their lost trade with the US simply by trading more with each other. That points to the possibility that globalization could keep on humming — just without the US at its center.

To explore this and more, visit here.

Today in Global Small Business: Will New Tariffs Help or Hurt Global Small Businesses?

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

• Will tariffs help or hurt global small businesses?
• Global small business owners are worried about Trump tariffs.
• Quote of the week: “Smoot and Hawley ginned up The Tariff Act of 1930 to get America back to work after the Stock Market Crash of '29. Instead, it destroyed trade so effectively that by 1932, American exports to Europe were just a third of what they had been in 1929. World trade fell two-thirds as other nations retaliated. Jobs evaporated." – Elaine Chao
• What proposed tariffs could mean for American manufacturing.
• Tariffs didn't make American manufacturing great again.
• Is it a good idea for US manufacturing on Trump's proposed tariffs?

Let Things Go

©Laurel J. Delaney.  All rights reserved.

"Autumn shows us how beautiful it is to let things go." – Unknown author

Unlocking Opportunities for Small Businesses in Cambodia

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Despite their importance, small businesses often struggle to access international markets due to the high costs of infrastructure, marketing, distribution, compounded by complex compliance and regulatory barriers.

However, technological advances, especially in online shopping, are alleviating some of these barriers by providing affordable digital storefronts and access to global customers without needing a physical presence.

Over the past decade, the Cambodian government has made significant strides to enhance the export potential of its small enterprises.  

Learn what those strides are here and a lot of it is digital support.

It's Complicated: How to Mitigate the Coming Tariff Increases

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The following was authored by Sandler, Travis & Rosenberg pre-election.

"The Biden administration has not only determined to maintain all existing Section 301 tariffs on imports from China but is expected to increase some of them in the near future. Sandler, Travis & Rosenberg goes on to say – and this was written pre-election:

Further, former president Donald Trump is threatening to more than double those tariffs and impose duties of 10-20 percent on all U.S. imports if he is elected [as of 11/5/24 Trump was re-elected] this November. 

However, there are a number of proven and legitimate ways for importers, exporters, and manufacturers to effectively escape or limit the impact of these tariffs."

Let's figure this out.

What DTC Brands and Retailers Need to Know to Stay Ahead

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With discussions heating up around new tariffs on imports—particularly from China—U.S. brands face a critical question:  how to adapt supply chains without squeezing margins or raising prices in ways that disrupt customer loyalty.  We covered part of the solution, for example, with "Is Manufacturing in Cambodia a Good Alternative to China?" 

Tariffs may seem like a blunt policy tool, but their impact on everything from sourcing to pricing strategy can be complex, significant, and lasting.

Who decides on tariffs?  What will be the potential impact on supply chains and costs?  How do you mitigate the impact?  Find out more on how to adapt for long-term resilience.

Is Manufacturing in Cambodia a Good Alternative to China?

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The U.S.-China trade war has put billions of dollars worth of tariffs on imports from the country and the prospect of higher tariffs under President-elect Trump has spurred many companies to accelerate their plans to shift where their products are made. These events, along with a trend of rising wages, have made many importers realize that a more diverse supply chain can provide real benefits.

An increasing number of importers have been looking for alternatives to China, with a desire to either replace or supplement their Chinese manufacturers.

Cambodia has come up because of its close proximity to China as well as its low labor costs, which are among the lowest in Southeast Asia. Making the move to Cambodia, however, is not always easy.

Read on to learn what Cambodia manufactures, how Cambodia compares to China, and the biggest challenge when switching to Cambodia.

Today in Global Small Business: Honoring Our Nation's Veterans

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

• In respect and recognition of the contributions our veterans and their families, caregivers, and survivors have made to the cause of peace and freedom around the world, the Congress has provided (5 U.S.C. 6103(a)) that November 11 of each year shall be set aside as a legal public holiday to honor our Nation's veterans.
• Veteran-owned businesses – SBA.
• Quote of the week: “How important it is for us to recognize and celebrate our heroes and she-roes!" – Maya Angelou
• U.S. Department of of Veterans Affairs, support for your Veteran-owned small business.
• Veterans and Military Business Owners Association.
• Veteran-owned businesses generated about 5.3% of employer firm revenue, according to the U.S. Census Bureau.

The New Look of Starbucks in Rogers Park, Illinois

©2024 Laurel J. Delaney.  All rights reserved.

"Our stores will be inviting places to linger, with comfortable seating, thoughtful design and a clear distinction between 'to-go' and 'for-here' service." – Brian Niccol, new Starbucks CEO 2024

Be Thoughtful and Respectful to One Another

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How should you talk to your team members about the results of the US election?

With a clear winner, as in Trump, say something like I want to emphasize that one of our core values as an organization is to be thoughtful and respectful toward one another. Let’s all be mindful of how we express our feelings, recognizing the diversity within our team.

And there's more.  Even though the outcome is clear, we still face a prolonged period of uncertainty. Acknowledge the tension and confusion, then pivot to your business needs.

Read more about what to say to your team after the election.

Music to Remain Calm (Music Video)

Building the Road to Global Small Business Utopia with AI and Fintech

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Could artificial intelligence help global small business owners gain the insights they need to operate more efficiently and grow?

In the updated edition of Fintech, Small Business & the American Dream, Karen Mills looks at evolving technology and how it might power this critical engine of the US economy.

Observations From Accidental Entrepreneur Charmaine James (wegginar® 11/6/24)

©2024 Women Entrepreneurs Grow Global®.  All rights reserved.

What fuels your soul?  How do you unleash greatness within you?  How can you surround yourself with smart and positive people?

Charmaine James will talk about this and a whole lot more at her upcoming wegginar®, Wednesday, November 6th at 11 AM CT, "The Accidental Entrepreneur." 

Charmaine is the founder and managing partner of Locsanity. She is the creative visionary behind the brand and is actively involved in the formulation of all of Locsanity’s loc, hair and personal care products. She is a former corporate executive as well as a wife and mom to three amazing children.

Don't miss this inspiring and educational talk – free of charge (can't beat that) thanks to wegg's generous sponsors as noted on the above graphic.

I [Laurel Delaney] will be moderating the call and look forward to your participation.  See you there!

To learn more and to register, visit here. 

Today in Global Small Business: RIP Lily Ebert

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

• Holocaust survivor Lily Ebert dies at 100.  May she finally rest in peace, deservedly so.
• Have you ever heard of planetary health?
• Quote of the week: “In the end, we will remember not the words of our enemies, but the silence of our friends." – Martin Luther King Jr.
• The world’s most powerful countries are the ones that consistently dominate news headlines, preoccupy policymakers and shape global economic patterns.
• Best global brands 2024.
• World economies competitiveness ranking.