This month we again asked key global business influencers around the world to share their unique, expert perspectives on market opportunities and challenges. What are they seeing out here right now? Here is a collection of thoughts via Global Chamber®.
At a Global Chamber® event last month at law firm Spencer Fane, new Mayor of Phoenix Kate Gallego, the only woman leading a major U.S. city, talked about making progress with exports, foreign direct investment and travel. Mayor Gallego 'gets' global via her education at Harvard and Wharton, her time as City Councilwoman, plus past business and economic development roles. She inherited an historically underachieving city regarding direct international flights, and so she said the following about regional airports Sky Harbor and Gateway: “We want to show we’re a global city and that people want to fly globally out of Phoenix… It really does matter if people are supporting that service. We have stepped up and said we have to invest in that economic engine, so we’re building larger gates that can accommodate larger aircraft. The best way to get more international flights is if all of us booked flight tickets on those existing flights." - Mayor Kate Gallego, City of Phoenix
"Over three decades of research tell us that women are good for business and the rise of women in the workplace has had a huge effect on the global economy. This phenomena is also know as the gender multiplier effect. Although women’s rise has not been without challenges, it is amazing to see the real impact that women can have in companies and in the market given they have the opportunity to demonstrate the distinct leadership skills that women possess. We believe in supporting, developing and honoring women leaders as they contribute to their communities, their families, their country, and also the global economy. How can you contribute to the gender multiplier effect?" - Andrea Conner, President ATHENA International. Read more HERE.
"The 100-Year Life has important implications for every executive's career. In consideration of these new developments, I discussed ways for executives to adjust their career choices, training and education in order to create greater impact on whichever path she (or he) chooses." - Teresa Martine-Retortillo, Executive President of Executive Education at IE Business School. Read more HERE
"At a time when the headlines are replete with news of trade wars and pervasive discontent, it can incline those involved in Global Business to retreat; to consider abandoning Global Expansion plans; to give up on Global. And while there may be a strategic thrust for pursuing some of those paths in some cases, there is also an opportunity to lead amidst the chaos and uncertainty.
"We know business, even Global Business, runs in cycles. You can choose to tear down the networks, customers, partners and infrastructure that took your company years to build and fund, only to have to rebuild and reinstall it a decade or 2 later - if you can - or you can choose strategically to Stay Global; perhaps entering 2-3 new markets next year instead of 5 and perhaps prioritizing those with low-hanging fruit, in deference to current events,.over those offering long-term rewards.
"There is always global opportunity for businesses who invest the time and energy to cultivate a palette of winning strategies under any market conditions. This is the time for long-term vision and short-term strategic restraint, skill and persistence. Experience helps, too. Go Global, Stay Global, Win Global." - Lucie Newcomb, President & CEO at The NewComm Global Group
"When any industry adopts new technologies, as we are seeing with the recent proliferation of FinTech advances, it must do so via an inclusive lens in order to be relevant and successful. Both established and emerging FinTech organizations will have the best chance of developing valuable products and services when they engage actively with a diverse mix of customers and when the teams building those products represent the full spectrum of potential users." - Marni Edelhart, VP of Content & Engagement at Momentum Events (Founders, Fearless in FinTech event series)
"Puerto Rico is open for business! Current political events in the island have not derailed efforts in solidifying Puerto Rico’s robust economic and tax incentives legislation. In recent weeks new legislation has been enacted with the purpose of promoting business activities which encourage growth of Puerto Rico’s economy. Activities incentivized include, among others: export of goods and services; financial and insurance services; tourism and hospitality; manufacturing and R&D; infrastructure; agriculture and agroindustry; recycling and green energy; creative industries; entrepreneurship; Qualified Opportunity Zones; medical professionals and resident investors. The new “Incentives Code of Puerto Rico” codified local tax incentives laws with certain amendments, continuing to provide various tax benefits such as a 4% income tax rate for a period of 15 years. Moreover, Puerto Rico continues to be on the forefront of promoting and incentivizing new industries such as e-sports and on-line gambling by enacting last week new legislation authorizing both activities in the island. We invite potential business and investors to explore the benefits and business opportunities that Puerto Rico has to offer." - Marisel Valentín Márquez, CPA, Esq. LLM, Junior Partner at Pellot-González, Attorneys & Counselors at Law
"With Central Banks racing to lower rates across the globe, it is a good time to be a US importer and not so good trying to compete as an exporter. While the trend has been toward a stronger U.S. dollar, these patterns don’t hold forever. It is always a sound strategy to have a comprehensive foreign exchange (FX) plan utilizing currency hedges to reduce uncertainty and to protect your business from a reversal. These can come suddenly. It's better to protect yourself and sleep soundly than to risk your outcomes on something you can’t control.” - Ned Donkle, Director of Enterprise Solutions at AFEX
"High failure rates of SME’s, reported as 80-90% in some countries, is a global concern. This has immense impact on the lives of business owners and regional economies, especially since failure most often happens in the first 2 years. Why fail? We know that here in South Africa and in every country, technology can be used for upskilling, driving collaboration and providing accurate and valid information that Business Owners need for sustainable success and greater empowerment." - Dishen & Yushini Maharaj, Founders at Business Enabling Toolbox℠
"Business opportunities in the Mexican market remain high. Despite political uncertainty on the national and international levels, markets such as energy, IT, and agriculture keep going strong. The current discussions between China and the USA might also create a positive effect on Mexico. Although the three P’s of doing business in Mexico (Patience, Perseverance... and then Profit) often still apply, the international ambiance in which this takes place, and a local labor force in favor of foreign companies being active in Mexico, makes it an incredible country to do business in these days." - Boudewijn Blatter, Manager of Mexico at iPS Powerful People
"The Ignite Institute of Berkeley, California develops visionary, socially responsible leaders and organizations by harnessing the wisdom of ancient, sacred teachings to guide the ethical application of disruptive innovation. Read more HERE." - Steve Hicken, Executive Director at the Ignite Institute
"This might all be good for China in the long run. People in China look at the U.S. as bullying China right now. The trade war might actually increase support for the Chinese government. And it might force them to change policies in a way that makes the economy less dependent on trade, less dependent on exporting and economic engagement with the U.S. So in the long run, not only might the tariffs not work (for the U.S.), but they might be totally counterproductive.” Read more HERE - Dr. Jonas Gamso, Associate Professor of International Trade at Thunderbird School of Global Management.
“Despite the turmoil and unpredictability of the last 18 months, a healthy trade relationship between China and the U.S. remains paramount to the countries’ respective domestic agendas and global interests. The lack of certainty continues to chill foreign direct investment from China, and now is causing U.S. companies to re-think their investments in China. As companies look inward, opportunities for re-thinking trade are more important than ever; the one immovable reality is, however, that China and the U.S. remain the largest economies and markets in the World and mutual cooperation is inevitable.” - Mark Heusel, Member and China Practice Group Chair, Dickinson Wright
Finally... in August we have a variety of ways for you to evaluate and implement landing your business in other regions, countries and metros. One option is to attend globinars on August 13th (in Spanish) and August 14th (in English) on things to consider. And then on August 28th we're starting a year long series of programs to increase your cross metro and cross border success using the unique approach by Professor Roberto Ancis. Learn more HERE and listen to Professor Ancis: "We were encouraged by the results from the first coursework we offered through Global Chamber® earlier in 2019. This new series of 24 sessions over 11 months is a practical, real-world education and facilitation for company leaders truly serious about growing. As we learned last time, the hands-on help including from peers around the world involved with the program, is invaluable. Join us! And we made the first 4 sessions FREE." - Professor Roberto Ancis, CEO/Founder of Coaching Professors
Also attend our globinar August 8th on HOT Global Opportunities, always free for members!
Be global and UNSTOPPABLE!