Global Growth Will be Strong in 2018

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According to The World Bank, global growth is expected to edge up to 3.1 percent in 2018.  Global trade has gained momentum, especially in global manufacturing and investment, which is in recovery mode.  Global trade accelerated substantially, supporting export growth in most emerging market and developing economy regions.

Read more about why 2018 global growth will be strong, and why there is still cause for concern, in 10 charts.

Download (automatic) the January 2018 Global Economic Prospects report.

Things Are Looking Good for British SMEs

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The health of the British economy can have a significant impact for many U.S. businesses, both big and small. Good news: in 2018, things look like they’re going to be healthy for the British.

A year-end study conducted by AIG found that 40 percent of those questioned were planning for growth this coming year while only 19 percent were expecting a downturn.
Regardless, this is still good news for American businesses looking to do business in the U.K. But tread carefully: the risks for British companies surrounding Brexit – such as higher material costs, potential labor shortages and exchange rate volatility, remains high. Unfortunately, only a third of those firms surveyed had contingency plans in case there’s a “no deal” outcome.
Read more on why British businesses are bullish about 2018.

Laurel Delaney's Global Trade Trends 2018 WEGGinar™ 1/10/18

©2018 WEGG.  All rights reserved.
Attend the New Year WEGGinar™, Wednesday, January 10 at 11:00 a.m. Central Time: “Laurel Delaney’s Global Trade Trends Report 2018,” presented by Laurel Delaney, Founder and President of GlobeTrade.com and President of WEGG.  Laurel will take a deep dive into Artificial Intelligence, Quantum Computing, AR and VR, Wearable Tech and Microlearning.

It’s FREE, thanks to the generous support of WEGG's sponsors: UPS, IBM and B•A•L – go here :
https://register.gotowebinar.com/register/1940601026277957634.

Explore more here: http://www.womenentrepreneursgrowglobal.org
Like WEGG on Facebook: https://www.facebook.com/womenentrepreneursgrowglobal

Today in Global Small Business: Is the Global Economy Booming?

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

Lean in, Colorfully

©2017 Laurel J. Delaney.  All rights reserved.
It's never too late for a little color.  The Leaning Tower is a perennial stop for travelers in the Chicago area, only 15 minutes northeast of O'Hare International Airport and 10 minutes from the World's First Franchised McDonald's in Des Plaines.
The Leaning Tower of Niles is, naturally, a replica of Italy's Leaning Tower of Pisa. It is roughly half-sized, 94 feet vs. the authentic's 177 feet, and leans about 7'4" off plum (vs. Pisa's 13 foot tilt). But that hardly matters when you're standing across the street taking a picture. And the savings in overseas airfare and reduced risk of injury is worth considering.
Learn more about the Leaning Tower of Niles.

Oh Who Says There is a Retreat of Globalization?

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As Pankaj Ghemawat says for the Harvard Business Review:
One week after Donald Trump’s inauguration, with fears of a trade war spiking, the Economist published a cover story, “The Retreat of the Global Company,” in which it proclaimed that “the biggest business idea of the past three decades is in deep trouble” and that “the advantages of scale and…arbitrage have worn away.” And Jeffrey Immelt, GE’s chairman and CEO, has talked about the company’s “bold pivot” from globalization to localization.
Oh please.  Globalization will never go away -- it's here to stay.  And look at the state GE is in after Immelt decided to do his bold pivot.  Get with the program -- choose globalization as your strategy or else risk thwarting the true upside potential of your business.

Case in point:  Many years ago, when I worked at a small manufacturing company, had we not taken our company global, we would have stayed at $600,000 in annual revenues year after year.  Instead, we took the chance and went after the world for business, ended up conducting business in 27 different countries, with 33 percent of our business generated internationally.  We reached $6 million in annual revenues within 3 years.  This was all done with a four-person staff, myself included.

You can listen to others and stay local or you can go after what is rightfully yours, easy to have and offers fantastic benefits.  The world is your market.  The only thing stopping you is you.

Read more:  Globalization in the Age of Trump

Getting Global Small Business Owners to Transition from Cash to Digital Payments

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The Indian economy thrives on 50 million micro, small and medium enterprises (MSMEs) that account for 37% of the country’s GDP.  This percentage could be higher, if 97% of the Indian retail transactions were not conducted in cash, like they currently are.
Extensive research has shown that use of digital financial services has many advantages over cash – it leads to higher reserves and business output. This means, small business owners in India could be more profitable if digital payments were more widely used. 
How do you get them to transition?  Read more about how SMEs transition from cash to digital payments.