From the Global Small Business Blog: The Countdown Begins

Make the world your business in 2018.

See What's Poppin' from Laurel Delaney on Global Trade Trends to Watch in 2018

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Passengers on the newly revamped Carnival Regal Princess won’t be greeted by fancy new restaurants, glorious swimming pools or the usual activities — but will instead walk around a deck, app in hand, as options for entertainment shift based on where they stand, says Laurel Delaney.

Welcome to the future on how things get done. This, along with a handful of other game-changing technology advancements, are white hot global trade trends that will influence global trade activities and business in general.

Take a look at areas where you need to jump into to capitalize on your business opportunities.  Here are 7 global trade trends to watch in 2018.

Business to Business (B2B) Exchanges

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If you are looking for online platforms where you can buy and sell products, look no further.  From Ofweek to Zoodel to MakersRow, here are 20 leading global B2B exchanges.

Build a Roadmap for Global Business Reach

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According to an Accenture report, Artificial Intelligence (AI) could add $957 billion to the Indian economy by changing the nature of work to create better outcomes for businesses and society. For SMEs, that means they will be able to perform better.

To help SMEs, global cloud-based business software provider Deskera is offering an integrated suite comprising ERP, CRM, Material Requirements Planning (MRP), Project management (PM) and HRMS.

"These applications can be accessed from any Internet-enabled device, encouraging SMEs to move out of premise-based system and build a roadmap for global business reach," [Shashank] Dixit [Founder and CEO, Deskera] said.

Read more about how companies are expanding their India footprint.

There Is a Bigger Market Out There: Global

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Matrade CEO Dr. Mohd Shahreen Zainooreen Madros says small businesses cannot afford to remain local. More and more foreign companies are making their way into Malaysia and are quickly crowding out the local market.  “There is a bigger market out there,” he says.

Competition has intensified as companies find that they are no longer limited to just the market in which they are based in.

As such, the world can become your market.

Read more about enabling exports for SMEs.

Peace on Earth

©2017 Laurel J. Delaney.  All right reserved.

A Christmas Story Lamp Leg Lookalike

©2017 Laurel J. Delaney.  All rights reserved.

Oh The Christmas Story famous leg lamp scene.

Global Small Business Owners Must be Flexible and Adaptable

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Flexibility and adaptability are characteristics Janet Zablock often observed in the small business owners she served as former head of global small business for Visa. It also described her own career, one that required her to reinvent herself several times.

What she learned offers lessons both for those trying to grow a global business, as well as those building their careers.

Read more about how Zablock went from shampooing hair to running small business for Visa.

The Huge Power of FANGs

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Rana Foroohar, in the Financial Times, cites the McKinsey Global Institute in writing of “the huge power of the Fangs—Facebook, Amazon, Netflix, and Google—which now dominate not just the digital business, but the entire economy.”

“Eighty percent of corporate wealth now resides in 10 percent of companies rich in intellectual property, of which the platform companies are the richest.”
And, what is it that these companies control?

The currency of the digital age -- data.

Building Empathy Across Borders

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When AskMen.com founder Ricardo Poupada was asked, "What do you think is the next big trend in technology and how will it impact the way we work?"  Here's what he said.

I’m a bit biased given my work, but I believe that VR has the potential to fundamentally change how we work in the business-to-business arena because it can help build empathy across borders and time zones, which is increasingly how the world of business is moving.

Read more about if your business won't grow, it could be because you just stick to what you know.

And be sure to catch Laurel Delaney's Global Trade Trends Report 2018 on January 10 (no charge WEGGinar™ but you must register to attend), which talks about the importance of understanding and using VR to grow your business global.

International Expansion Is Necessary for Long-Term Growth

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Despite the growing number of U.S. companies expanding abroad, there are still many firms that haven’t made the leap overseas.  International expansion is necessary for long-term growth.  If you’re on the fence about taking your company global, consider these five benefits of international business expansion.

The first one is to consider new markets outside your home country. Beyond that, look at diversification, access to talent, competitive advantages and foreign investment opportunities.

Today in Global Small Business: Due to Sanctions, Santa May Have Trouble Delivering His Presents This Christmas

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

• What group stands to benefit the most from the tax plan if it becomes law?
• Fulfill your quest to focus in 2018. 
• With the recent changes to export restrictions and sanctions around the globe, Santa may have trouble delivering his presents this Christmas.  Find out why.
• Laurel Delaney, President, WEGG and Founder, GlobeTrade.com, will present on "Laurel Delaney's Global Trade Trends Report 2018," and will cover AI, Quantum Computing, AR and VR, Wearables and more in the next WEGGinar™ held on Wednesday, January 10 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1940601026277957634
• Artificial intelligence (AI) is helping astronomers make huge steps towards solving some of the Universe's biggest mysteries.
• How to get international trade sanctions just right.

Have a Little Fun Today

©2017 Laurel J. Delaney.  All rights reserved.

The World is On the Cusp of a New Digital Economy

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With the world on the cusp of a new digital economy in which e-commerce and automation will transform production, trade, investment patterns – as well as helping meet the Sustainable Development Goals (SDGs) –the need for new policies to be adopted is clear.

“The gains of digitalization are not automatic and there will be major challenges for countries, enterprises and people to adapt, but we must start somewhere,” UNCTAD Secretary-General Mukhisa Kituyi said.

Digitalization is creating new ways for small businesses and women entrepreneurs to reach new markets worldwide.

Read more about global e-commerce policy work -- an effort that must never be given up.

The Gig Economy

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The freelance marketplace makes it easy for small business owners to save on administrative and overhead costs while also growing a business global.

Modeled after traditional e-commerce websites, freelancer marketplaces allow specialized professionals such as graphic designers, app developers, SEO consultants and social media marketers to offer their services to small businesses for a fee.

What are you waiting for?

Learn more about how you can grow your business global via the gig economy.

E-Commerce: The Rise of Online Shopping

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E-commerce sales worldwide hit an estimated $25.3 trillion in 2015 and have grown since.

The internet makes buyers and sellers more visible and accessible to each other locally and globally. The international bit is really interesting. The opportunity to connect quickly and efficiently to multiple markets can be a boon for smaller businesses and a great attraction for consumers. Without e-commerce, establishing a physical presence in multiple markets can be costly, while consumer demand might also not always be clear.

Read about the five (5) ways to make global e-commerce easier for everyone.

How Does the World Trade Organization Work?

Today in Global Small Business: What's the Difference Between a Startup and a Small Business?

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

• A small business takes on global competition.
• What's the difference between a running a startup and a small business? 
• E-commerce reports worth knowing about, some free some not.
• Laurel Delaney, President, WEGG and Founder, GlobeTrade.com, will present on "Laurel Delaney's Global Trade Trends Report 2018," and will cover AI, Quantum Computing, AR and VR, Wearables and more in the next WEGGinar™ held on Wednesday, January 10 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1940601026277957634
• How image recognition and augmentation are changing retail (2017).
• Think BIG for small, that's a pillar for future-oriented, sustainable growth (PDF).

Believe

©2016 Laurel J. Delaney.  All rights reserved.

The Walnut Room at Macy's on State Street (2016), Chicago, Illinois, USA.

A New Phase of Globalization and It is Not Slowing

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Globalization is not slowing, and according to a new joint report (PDF) by Business of Fashion and McKinsey & Company. “On the contrary,” it says, “we are entering a new phase of globalisation, driven by digital connectivity and the flow of data, and this will lead to much greater global connectedness, not less.”

Read more about how national borders cannot contain the new phase of global connection.

The World Is Yours™

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Eight (8) successful business owners talk about how they went global in 2017.  Here's one:

3. Know what you want, be flexible, and accept change

Robert Anderson, founder, Expert Remedies:

“When I first heard the axiom ‘success consists of a series of small daily victories,’ I wasn’t sure what it meant. Now I know. It’s an essential principle of global expansion. Small daily victories mean getting essential operational details done correctly — step by step. Success happens when you have a viable idea — to be verified by the market — coupled by logical, intelligent execution.

Also key: the business you envision will rarely be the same as how it turns out.

Be flexible and accept change. Use it to your advantage. The market is ruthless, and it may be at odds with what you first think — so be careful. The TV show Secret Lives of the Super Rich might make it all seem so easy, achievable within a month. Don’t fall for it.

You can make it, it just takes unending persistence and a clear vision knowing what you want — and being flexible enough on how you get it. Who knows, maybe I’ll see you on TV one day.”

Read more about global expansion: 8 tips from successful business owners on how they went global in 2017.

(The World Is Yours™, GSBB Media LLC)

Learning About Diversity and Inclusion to Create a Workplace that Works

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What is diversity and inclusion?  Why is it important?  How does bias play into diversity and inclusion?  How can you create a more diverse and inclusive organization?

All these questions will be answered by attending the Women Entrepreneurs GROW Global WEGGinar™, December 6 at 11:00 a.m. Central Time, on “Harnessing the Power of Diversity and Inclusion: Creating a Workplace that Works,” presented by Joselyn DiPetta, Google; and Managing Partner, Present Possibility.

Ms. DiPetta will give you a deeper understanding of why diversity and inclusion are critical to successful and sustainable business outcomes, and about unconscious bias in the workplace and the importance of addressing it.

It’s FREE, thanks to the generous support of our sponsors: UPS, IBM and B•A•L – go here to register:  https://register.gotowebinar.com/register/1837790091765976835.  I'll be fielding the questions at the end of the presentation.  See you there.

SMEs: The Lifeblood of Global Economies

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Entrepreneur India caught up with the representatives of three different countries on the sidelines of the World Association for Small and Medium Enterprises (WASME), 21st International Conference on Small and Medium Enterprises to know how each country is contributing to a global value chain and how a collaboration with Indian SMEs could further enhance development.

Here's what came out of it.

Read more about how business across borders and global collaboration can help in the growth of small businesses.

One more thing ... learn about SMEs, the lifeblood of global economies.

Today in Global Small Business: Best Small Business in America

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

• Joselyn DiPetta at Google, and Managing Partner, Present Possibility, will address how to create a workplace that works (diverse+inclusive) in the next WEGGinar™ held on Wednesday, December 6 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1837790091765976835.
• Best small business in America?  Find out here.  This is according to Rubicon Global.
• To stay relevant in a crowded global marketplace, Small Business Trends suggests reading Top of Mind.
• Tempted to invest in Bitcoin?  Here are a few factors to consider.
• Will Macy's survive the holiday bustle?
• How the NAFTA trade negotiations are coming along.

Irish Pub Grub, Booze and Live Music at Celtic Knot

©2017 Laurel J. Delaney.  All rights reserved.

Celtic Knot Public House:  Boisterous saloon featuring Irish pub grub, booze, holiday decorations and live music in comfortable surroundings in Evanston, Illinois.

Go Global or Die

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This eleven-year old article on going global is still relevant to our times.

In her manifesto, "Global Guru:  Shaking Things Up.  Making Things Happen," Chicago-based Laurel Delaney, founder and CEO of GlobeTrade.com writes, "In the future, there will be two kinds of enterprises:  those that go global and those that die."

Read about propelling your business into the global marketplace.

Women First, Prosperity For All

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The eighth annual Global Entrepreneurship Summit began in Hyderabad, India, focusing on the theme of “Women First, Prosperity For All.”

For the first time in the history of this summit that brings together entrepreneurs and high-level politicians from around the world, women make up a majority of the 1500 entrepreneurs selected to attend.

In order to make China's female entrepreneurs count, we must go beyond just counting them.

Think Like a Disruptor

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Are you overlooking fledgling competitors until they are no longer fledgling and ignoring small market trends until they represent seismic shifts?  If you are, read my lips:  This is the opposite of what successful disruptors do.

Those companies are sniffing out any small, potentially market-changing trend they can find in order to establish themselves and take on the bigger players.

And I love the part in this article where P&G visited 1871, my hometown Chicago's hip incubator, and came up with Tide Spin.

Shake it up in 2018!

Small Business, Global Impact

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To discuss issues and find solutions for SMEs, The World Association of Small and Medium Enterprises (WASME) is organizing the 21st International Conference on Small and Medium Enterprises (ICSME) between November 30 and December 1 in New Delhi, India.

The event seeks to discuss achieving inclusive and sustainable industrialization by promoting SMEs - Small Business, Global Impact.

SMEs are said to contribute around 8% to India's GDP and around 45% of the country's manufacturing output. Yet, a large part of this sector remains unorganised, battling sundry issues - political, social, and financial.

Read more about how the SME sector is likely to come out a winner post demonetization:  WASME.

Today in Global Small Business: Small Businesses Are Stealing Away Business from Publicly Traded Retailers

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

• The Canadian government wants to include a gender chapter in the new NAFTA.
• Shopping Small can have a huge impact locally, but with organizations like TO THE MARKET, the impact can be global as well.
• Deloitte found that $200 billion in market share is being traded to smaller businesses, away from the top 25 publicly traded retailers, which includes both Amazon and Walmart.
• Joselyn DiPetta at Google, and Managing Partner, Present Possibility, will address how to create a workplace that works (diverse+inclusive) in the next WEGGinar™ held on Wednesday, December 6 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1837790091765976835.
• ignoring Bitcoin is to your detriment.
• Chicago-based Tempesta Market is opening Dec. 1 with locally made artisan Italian cured meats.

I Cannot Live Without Books

©2017 Laurel J. Delaney.  All rights reserved.

"I cannot live without books; but fewer will suffice where amusement, and not use, is the only future object." -- Thomas Jefferson to John Adams, June 10, 1815

A Movement to Eradicate Extreme Poverty

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In September, Global Citizens, a social action platform dedicated to solving the world's biggest problems, turned NYC into an arena of advocacy, with dozens of events and activations uniting Global Citizens to learn, take action, and see world leaders commit to deliver a world without extreme poverty by 2030.

"All of a sudden, the footprint, it very much organically started to grow," [Global Citizen's Hugh] Evans, 34, tells Billboard. "We never want Global Citizen to be a night in Central Park -- it has to be a 365-day-a-year movement to eradicate extreme poverty."

Now, GC has released a Taylor Swift parody video for a cause. Bringing awareness to one of the most pressing issues in global development, the “Look What You Made Me Do” spoof draws attention to sanitation and toilet access.

Worldwide, 4.5 billion people lack access to safe and working toilets and sanitation, while 892 million people are forced to defecate outside in the open or into bodies of water.

Check out the Taylor Swift parody that has gone global here.

The Global Small Business Blog Is Grateful for Your Readership

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Female Air Force Veteran and Spouse Launch Successful E-Commerce Business

Laurel Delaney: 7 Tips to Get Paid on International Deals

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Collecting money from your overseas customers doesn’t have to be painful. The first rule of thumb: Never sell on open account — no ands, ifs or buts! Got it? Open account means you ship goods or sell services without any guarantee of collecting payment on a transaction. Here are seven ways to get paid on international deals.

7 Tips to Get Paid on International Deals by Laurel J. Delaney

Today in Global Small Business: The Logic of Being Global

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

• The retreat of the global company.
• Revisiting the logic of being global.
• Which US businesses could lose big time from TPP withdrawal?
• How to create a workplace that works:  Joselyn DiPetta at Google, and Managing Partner, Present Possibility, will address that topic in the next WEGGinar™ held on Wednesday, December 6 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1837790091765976835.
• How to build an e-commerce site while working a 9-5.
• 7th HSBC Export Excellence Awards, contributing to the nation's sustainable growth.

The Sun Makes Ice Melt

©2017 Laurel J. Delaney.  All rights reserved.

"Constant kindness can accomplish much. As the sun makes ice melt, kindness causes misunderstanding, mistrust, and hostility to evaporate." -- Albert Schweitzer

Hiring Abroad Doesn't Come at the Expense of U.S. Workers

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U.S. President Trump assumes that when U.S. multinationals expand abroad, it necessarily reduces the number of people they employ in the U.S.  But this assumption is wrong, and tariffs would hurt American workers, not help them.

Academic research has repeatedly found that when U.S. multinationals hire more people at their overseas affiliates, it does not come at the expense of American jobs.  How can this be?

Read more:  The 'Exporting of Jobs' Canard (might require registration)

Future of Ecommerce: Have the Expert's Predictions Come True for 2017?

Social Businesses Can Cure Poverty

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Nobel winner Muhammad Yunus, who won the Nobel for his work in microfinance, explains how so-called social businesses can make everyone an entrepreneur and remedy inequality.

Yunus encourages us to see the world not through the lens of profit, but of social impact.

He spoke about his book, A World of Three Zeroes: The New Economics of Zero Poverty, Zero Unemployment and Zero Net Carbon Emissions on the Knowledge@Wharton show.

Learn more about why a Nobel Laureate believes 'social businesses' can cure poverty.

The Seller Summit

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What is the Seller Summit?  It's tricky.  Amazon recently ran an event, referred to as a Seller Summit, attended by 500 interested in selling via the soon to be launched local version of Marketplace, the third party selling platform which generates more than half Amazon’s total global revenue.  The 500 who attended the event will be on a priority list of those to get an invitation-only to sell via Amazon Marketplace.  (Gee, sounds a little bit like the old Gilt business model where you had to wait to be invited.)

Amazon plans to launch in Australia with both a direct retail presence and an Amazon Marketplace offering of local sellers.

“We held the Seller Summit to encourage and educate Australian businesses on how they can use Amazon Marketplace to take their products to a global audience,” says [Rocco] Braeuniger [Amazon Australia country head].

Read more about how Amazon is quietly building a supplier network for direct sales in Australia.

Today in Global Small Business: Ten Places to Look for Import and Export Help

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

• What has moved me lately ... Dr. Nancy Adler's Leadership Insight Journal.
• Strategies for building a global network (really like point #3).
• Ten places to look for import and export help.
• How do you create a workplace that works?  Joselyn DiPetta at Google, and Managing Partner, Present Possibility, will address that topic in the next WEGGinar™ held on Wednesday, December 6 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1837790091765976835.
• How I built a startup while traveling to 20 countries.
• And oldie but goodie article worth revisiting:  20 factors to consider before going global.

La Creperie: Best-Kept French Secret in Chicago

 

One of my favorite best-kept French secrets:  La Creperie, the oldest Creperie in the U.S.  I started dining there in 1977.  Still love it.  It's right across the street from the Landmark Century Centre Cinema on Clark Street in Chicago.

Photos courtesy:  @2017 Laurel J. Delaney.  All rights reserved.

SMEs Power American Commerce

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Small and medium-sized businesses power American commerce, comprising 99 percent of firms in the country.  Further, technology has changed the global economy and our business landscape several times over, and we're in the midst of yet another fundamental shift.

Thanks to technology, small and medium-sized businesses are able to participate in the global marketplace with much greater ease. This includes marketing, selling, and exporting their products to customers abroad. Despite their size, small companies have an outsized role in global trade, accounting for 98 percent of U.S. exporters and about one-third of merchandise exports.

Read more about how technology is essential to the future of small businesses across America.

Firms That Export, Are More Productive than Those That Don't

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The Uganda Women Entrepreneurs Association Limited (UWEAL) is joining the rest of the world to celebrate the Month of Women Entrepreneurs (MOWE), which is a global event that is celebrated in November with the aim of appreciating women's success and inspiring millions of others that are still held up in the confines of cultural and gender-norms or lack capital, information and knowledge to start a business.

“According to our 2017 research, among 210 women in Kampala, only 44 (21%) are exporting and yet Uganda has secured huge markets in China, USA, European Union, as well as COMESA. The truth is, firms that export earn more, pay more, employ more and are more productive than firms that do not export,” Gudula noted.

Read more about women in business to receive export training.

90 Percent of Businesses in Bahrain Are SMEs

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According to a 2017 international entrepreneurship analysis, the Global Entrepreneurship Development Institute (GEDI) ranked Bahrain 34th out of 137 countries and fifth in the Mena region.

It is estimated that around 90 per cent of businesses in Bahrain are SMEs, and their contribution accounts for about 30 per cent of the kingdom’s GDP. Recently, the World Bank listed Bahrain among the world’s top 10 most improved economies for adopting reforms that make it easier to start and operate small and medium-sized Enterprises (SMES).

Luckily, Microsoft has launched its Microsoft 365 Business in Bahrain, a multifaceted workplace solution to cover productivity, admin and security needs of the SME sector.

Read more about how Microsoft 365 Business launched in Bahrain.

New Gen Startup Campus in Johannesburg, South Africa

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Virgin Group founder, Sir Richard Branson, will open the 10th anniversary celebration of Global Entrepreneurship Week (GEW) by participating in the launch of a new startup campus in Johannesburg, South Africa.

The campus is the first one opened by the Global Entrepreneurship Network - offering direct and virtual support services to entrepreneurs throughout Africa as well as access to an international network of mentors, investors and entrepreneurial support organizations.

Learn more ... new Gen startup campus, 22 on Sloane, in Johannesburg, South Africa.

Today in Global Small Business: PayPal Marketplaces Goes Global

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

• How do you create a workplace that works?  Joselyn DiPetta at Google, and Managing Partner, Present Possibility, will address that topic in the next WEGGinar™ held on Wednesday, December 6 at 11:00 a.m. Central time. WEGGinar™ is no charge but you must sign up to attend: https://register.gotowebinar.com/register/1837790091765976835.
• Alibaba sets up a hub for small businesses to go global.
• E-commerce offers significant opportunities to the logistics industry. 
• PayPal Marketplaces goes global.  What is PayPal Marketplaces and how does it differ from regular PayPal?  Find out here.
• Learn how two e-commerce giants -- one being Amazing -- are trying to export their success.
• Discover not 1 but 27 social media tools that will help you become a savvy global marketer.

I Say a Little Prayer

©2017 Laurel J. Delaney.  All rights reserved.

A song written by Burt Bacharach and Hal David for Dionne Warwick, "I Say a Little Prayer," originally peaked at number four on the U.S. Billboard Hot 100 pop singles chart in December 1967.