The Business of Doing Global Business Easier

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Over 250 million companies around the world transact goods and services worth US$120 trillion annually - making the opportunities in international trade tremendous for the businesses involved.

The potential for a single business to transact with hundreds to thousands of buyers or suppliers around the world should be the dream of any business owner. However, it is typically the larger corporations - and even so only a fraction of them - that are able to internationalize successfully.

Come 2019, businesses will be able to access, retrieve and exchange key information relating to themselves and their trading partners through the Mastercard Track Trade Directory, a secure central database with over 150 million companies registered worldwide.

Learn more about Mastercard Track Directory and how to make the business of doing global business easier.

b_verify: Disrupting and Redefining the Global Supply Chain

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Despite their scope and impact, SMEs have a harder time getting financing than larger established firms. According to the World Bank, it is estimated that their global financing shortfall is around $2.6 trillion.

“The potential benefits are vast and global in scale,” said Gerry Tsoukalas, Wharton professor of operations, information and decisions, who was part of the team [from MIT, Wharton and Boston College]. Small and medium-size enterprises, he said, represent the backbone of many economies in the world, and they account for more than half of the jobs as well as a third of global GDP.

This leads to the creation of a new blockchain-based system that has the potential to disrupt the global supply chain. Called ‘b_verify,’ the system is designed to help small and medium-size enterprises — especially those in developing nations — get financing from lenders at potentially better terms while mitigating warehouse deposit fraud.

Learn more about 'b_verfiy', the benefits, and how it can disrupt the global supply chain.

Related paper:  Blockchain and the Value of Operational Transparency for Supply Chain Finance

NASA's Insight Spacecraft Landing on Mars

Giving Tuesday Is Trying to Go Global

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Giving Tuesday is trying to go global. Which, according to a Brit, is a tough sell, given what it considers its links to the all-American festival of Thanksgiving.

Here in London, my friends and I have been bombarded with advertisements for Black Friday and Cyber Monday. (What Amazon can flog in Boston, Amazon will flog in Belgravia.) Small Business Saturday has also taken off, largely as a social media opportunity for UK politicians to be photographed enthusiastically at small businesses in their constituency. (The basics of local politics also cross borders.) Unmoored from any connection with Thanksgiving, it is marked on the first Saturday in December as a build-up to Christmas shopping.

The USA serves as a role model by paving the way to interconnect with the world.

"The culture of American exceptionalism that has graced this nation since our founding encourages risk-taking. In the U.S., more so than anywhere else, success born of risk-taking and innovation is handsomely rewarded, and failure is viewed properly as a tool for learning." -- Source

And by the way, we have friends and colleagues worldwide who participate in monthly wegg® wegginars®.  This is the time of year to give back and do something kind for organizations like wegg that help thousands of individuals receive opportunities they wouldn't normally have without the support of these great nonprofits.

Read more about the concept of Giving Tuesday and how it is going global.

Today in Global Small Business: Beautiful Destinations Around the World

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

• If you aren't doing something uncomfortable, you aren't growing.  Ready to change that? Register for an absolutely free-of-charge wegginar® on 12/5 to put yourself out there. 
• UNCTAD is making trade data freely available through a user-friendly interface called HelpMeTrade.org.
• DataReportal offers hundreds of free reports packed with data, insights, and trends to help you make more informed decisions.
• Quote of the week:  "May your walls know joy, may every room hold laughter, and every window open to great possibility.” -- Mary Anne Radmacher
• A Swedish restaurant is named Best Small Business In America.
• Beautiful destinations around the world -- from a Pinterest board. 

Pick Me Up Cafe: Open in Chicago When You Are

Founded in Chicago in 1997, Pick Me Up Cafe was one of the first restaurants in the city to offer vegan and vegetarian fare.

PMU Cafe prides itself on being able to serve people with all types of food preferences.  The food is delicious with plentiful portions. Plus, you can see by the photos what a treat it is to visit.  Oh, and did we mention it's within walking distance of the 'L' red line train stop at Addison near Wrigley Field?

Photos courtesy:  @2018 Laurel J. Delaney.  All rights reserved.

Using LinkedIn to Grow Your Business Globally

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Before you develop your LinkedIn strategy and promote your domestic business to a global audience, here are five things you should consider.

1. Understand who your prospect is and go beyond local limits.
2. Understand LinkedIn specifics and how you can best leverage them to go global.
3. Write your LinkedIn headline in a way that will leave your international prospects thinking, "Yes!"
4. Write an attractive LinkedIn summary -- not a resume, but something that might help the reader with a specific need.
5. Understand the cultural habits and customs of the people you are trying to reach.

Read the entire article here.

Happy Thanksgiving From Your Friends at the Global Small Business Blog

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Is There No Such Thing As a Simple Global Marketing Strategy?

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Today’s international frontline marketers have quickly learned that there is no such thing as a simple global marketing strategy. They know that local nuances and cultural differences can put the kibosh on—or put an end to, make less effective, insert local phrase here—even the most well-meaning of top-down strategies. At least that is what Lauren McMenemy says.

Is a global marketing strategy really necessary for your business? If you were to develop an ad campaign in the United States, do you think the same campaign would be effective in France? In this article Laurel Delaney examines why it’s important to create a global marketing strategy for your business (no matter what size it is) and what the benefits are to crafting one.

Meanwhile, you can read Lauren's entire article about how a great global marketing strategy rests on local execution.

Business Is a Global Affair to Remember

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It’s fair to say that certain countries are leading the way in terms of efficiency and productivity.  Business is truly a global affair.

Longer working hours doesn’t always equal greater productivity, it’s often about working smarter, not harder. Now that most multinational corporations now have bases all over the world, it’s becoming increasingly important to be aware of cultural business trends and increasing productivity across the workforce.

What are the top five most productive countries and how do they achieve this status?  They are as follows:

1. Luxembourg
2. Norway
3. Switzerland
4. Denmark
5. Iceland

Read the entire article to find out who is doing productivity right and discover how a business can improve productivity.

Today in Global Small Business: Export Compliance is a Global Must

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

• 1,000 steps to becoming a global small business.
• Despite global uncertainty, SMEs will continue to push beyond borders for business.
• An 18-year old policy brief by OECD highlights that SMEs have local strength, global reach.
• Accept payments from anywhere in the world provided Stripe operates in the country you select.
• U.S. export compliance is a global must.
• Get out of your comfort zone in 2019.  Register for FREE wegginar® on 12/5 to help you learn how.  

Summer Collapsed Into Fall

©2018 Laurel J. Delaney.  All rights reserved.

"And all at once summer collapsed into fall." -- Oscar Wilde

Billions of People Have Been Enriched Through Global Trade

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Michael L. Corbat, CEO of Citi, write an opinion piece for The Wall Street Journal, "America Has a Surplus in Services."  He says that arguments about the balance of trade often focus only on goods.  That misses half the equation.

Last year the U.S. trade surplus in services came to more than $250 billion, brining the total trade deficit down to around $550 billion.  the Economic Report of the President issued in February put it this way:  "Focusing only on the 'trade in goods along ignores the United States' comparative advantage in services, which rose as a share of U.S. exports to 33.5 percent through 2017."

Read the full Opinion piece by Mr. Corbat here.

Stop Wasting Time and Start Saving Money on Corporate Travel

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From the travel entrepreneurs who brought you KAYAK, comes a time-saving, money-saving way to manage corporate travel.  It's called lola.  And they have just formed a partnership with American Express Global Business Travel.

Learn more about lola.

What Is Globalization and How Has the Global Economy Shaped the United States?

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What is globalization and how has the global economy shaped the United States?  The Peterson Institute has all the answers with its newly launched and very first microsite, titled "What Is Globalization?" 

This interactive feature explains a term that has become toxic, especially in today's political environment. The goal is to educate the public and clarify misconceptions about globalization's impact. Understanding the relative costs and benefits can pave the way for alleviating problems while sustaining the advantages.

The Peterson Institute's new microsite covers:

• Why historical context is import.
• How trade helps each side.
• Demystifying job effects.
• Measuring the benefits vs. costs.
• The difficulties facing US-China Trade
• How to sustain globalization through policymaking.

Visit the What Is Globalization microsite.

Why Some Emerging Economies Outperform the Rest

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Emerging economies have accounted for almost two-thirds of the world’s GDP growth and more than half of new consumption over the past 15 years. Yet economic performance among individual countries varies substantially.

Why do some emerging economies outperform the rest?  What's the secret to their success?

Find out how high-growth emerging economies and the companies that propel them become outperformers.

Today in Global Small Business: A Few Things You Should Know About Disputes with Chinese Companies

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

• How does a small business deal with potential violence?
• Why students aspire to become entrepreneurs.
• Speaking of students ... how we can prepare students for the future of work in a global society.
• The world is more inter-connected than ever before. It's time to utilize talent from all over the world to help your business grow globally.
• Disputes with Chinese companies ... a few things you should know.
• 24 resources for importing agricultural products.
• Are you pushing boundaries for your business and yourself to do things you are uncomfortable with yet allows you to grow?  

Warm Pizza Box On Your Lap

©2018 Laurel J. Delaney.  All rights reserved.

"There's no better feeling in the world than a warm [Pizano's] pizza box on your lap." -- Kevin James

The Missing Silver Bullet for Women Entrepreneurs

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Even where women are starting businesses at relatively high rates, their profits and growth are constrained relative to their male counterparts.  Take Asia and the Pacific.  They stand to gain 70 percent in per capita income within roughly two generations by eliminating gender disparities in employment, including in the area of entrepreneurship. Increasing women’s entrepreneurship is good for national banks and citizens’ wallets alike.

In Cambodia, for example, less than 1 percent of businesses with more than 10 employees are owned by women, and women’s entrepreneurship rates in South Asia are among the lowest in the world, with less than one in 10 SMEs owned by women. 

What explains this persistent gender gap in entrepreneurship across the region, how can it be overcome, and does it matter?

Read more about the missing silver bullet for women entrepreneurs.

Let's Celebrate Global Entrepreneurship Week

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Discover how to get involved in #GEW2018 this November 12-18.  What's Global Entrepreneurship Week (GEW)?

During one week each November, thousands of events and competitions in 170 countries inspire millions to engage in entrepreneurial activity while connecting them to potential collaborators, mentors and even investors. Powered by the Kauffman Foundation, the initiative is supported by dozens of world leaders and a network of more than 15,000 partner organizations. GEW is held November 12-18, 2018.

At the Global Small Business Blog, we practice global entrepreneurship every single day of the year.

How do you plan to celebrate?  What will you do to foster entrepreneurship -- join GEW, find an event or create one?

Read more about Global Entrepreneurship Week (GEW).

Accessible Marketing Automation Options to SMBs Globally

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Here's how ideas start.  Usually it begins with some form of pain and trying to solve a problem.

"I was looking to solve my own pain and at the same time, I could see marketing automation companies in the US were growing fast but were not catering to Brazilian customers," [Eric] Santos [founder of RD] says.

Santos's Brazilian B2B software firm Resultados Digitais (RD) is moving forward with an international expansion plan focused on offering accessible marketing automation options to small and medium businesses (SMBs) globally.

Read more about a Brazilian company's digital marketing plan that targets international expansion.

A Force to be Reckoned With: Global Star Serena Williams

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Serena Williams is a force to be reckoned with.  Under pressure, she displays grace.  When really cornered, she pivots away to a place that brings her even more power:  to herself.

Fact:  Serena Williams has nearly 11 million followers on Twitter, 10 million on Instagram and more than 5 million on Facebook.

Serena Williams is not on this planet for status quo.  Learn how she is redefining what it means to be a global celebrity and star athlete.

Today in Global Small Business: Small Biz Tech News You Can Use

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

• wegginar®:  discover how to offer your international consumers the same shopping experience on your website that you offer to shoppers in the US.  No charge thanks to corporate sponsors  but you must register to participate 11/7.
• 5 things happening in small biz tech news and why it is important to your business.
• Want growth through exporting?  Check out this free workshop 11/14.
• The world is more inter-connected than ever before. It's time to utilize talent from all over the world to help your business grow globally.
• American Express has released its shop small campaign in Australia, featuring 15 small business owners from across Sydney and Melbourne.
• The online marketing plan, authored by Laurel Delaney, that will take you global in a heartbeat.

Chicago Is Work

©2018 Laurel J. Delaney.  All rights reserved.

"I'm impressed with the people from Chicago.  Hollywood is hype.  New York is talk.  Chicago is work." -- Michael Douglas

Shop, Eat, Drink and Celebrate Small Business Saturday

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American Express prepares for its ninth annual Small Business Saturday®, taking place nationwide on November 24.

Small Business Saturday, founded by American Express in 2010, is held each year on the Saturday after Thanksgiving to encourage people to shop at independently-owned businesses online and at storefronts across the country.

Find out the benefits beyond strengthening and supporting your local community when you shop small.

A Look Back at Airbnb's International Growth Strategy