Posts filed under ‘small business’

Payment Options for International Transactions

You and your customer will assess many factors as you negotiate the payment term that will be used for your international transaction. They include, but are not limited to:
Value of the transaction;
Your relationship with your customer, new or long-standing;
The country where the goods are destined;
The buyer’s country’s rules about how money will be released to you, the seller; and
Whether the product being shipped is customized, built to specification, or off the shelf.
The global economy is fluid; firms will benefit from regularly examining its own customer base and assessing political, credit and foreign-exchange risks to determine which payment term best suits the situation. There are several sources that provide background information on the buyer’s country and their economy. Options that are available on the internet include:

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December 8, 2009 at 8:00 am

An Online Market Flourishes in China (E-commerce Fever Makes Taobao China’s Newest Internet Darling)

The so-called Taobao addicts are helping to pick up the slack in a sluggish economy. “I can’t live without Taobao,” said Zhang Kangni, a graduate student in Shanghai. “First, it’s cheaper. I found a dress at a store in Shanghai. It’s a Hong Kong brand that sells for $175. I found it on Taobao for $33.”

But skeptics ask: Can Taobao actually make a profit and emerge as a true Web powerhouse?

The company is not publicly traded and therefore does not disclose financial information, but listings are free on Taobao and the company makes no money from online transactions. Almost all Taobao’s $200 million in revenue comes from advertising, which the company says covers virtually all its operational costs. (By DAVID BARBOZA, The New York Times, August 9, 2009 )

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November 30, 2009 at 9:18 am

MAG Completes First Phase of New China Plant

Erlanger, Kentucky – MAG Industrial Automation Systems will complete the first phase of a new plant in Changchun, China, by the end of November, with production of machine tools and factory automation systems set to begin in February 2010. The new plant, located in the Changchun Economic and Technical Development Zone, is being established in two phases, the first of which covers more than 6,000 m2 of production and offices located on a campus of 13,000 m2.

“This new facility complements our operations in Beijing and Shanghai to offer unique technical knowledge and increased production capacity for faster, better service. Our Chinese footprint will greatly increase Chinese industrial productivity and technological capabilities,” said Daniel D. Janka, President MAG. “With year-over-year GDP growth of nearly nine percent in the third quarter this year, the Chinese market is a bright spot in the global economy, and MAG China has rapidly grown to meet the needs of the aggressive infrastructure build-out going on in that country and the greater Asian market.”( Manufacturing & Technology eJournal | November 12, 2009)

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November 18, 2009 at 8:00 am

Chinese Small-Business Lending Getting Smaller

In a little-noticed statement last week, China’s central bank and banking regulator gave an update on how well the country’s small businesses are doing at getting loans from banks (original in English here). That’s become a crucial issue this year, with growing concerns among officials and scholars that China’s extraordinary credit boom is bypassing the very firms that account for most new job creation. Yet the latest numbers — like many Chinese statistics – confuse as much as they enlighten.

The regulators said small- and medium-sized enterprises, SMEs for short, accounted for 14.1 trillion yuan of outstanding bank loans at the end of September, up 28% from a year earlier. Overall bank lending, by contrast, was up 34.2% in September. According to our calculations, the figures would mean small-business loans account for 36% of China’s total lending and 45% of lending to corporations. (The 3.08 trillion yuan in new loans to SMEs is also 45% of this year’s new lending to corporations.) (By Andrew Baston, The Wall Street Journal, October 27, 2009)

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November 5, 2009 at 8:00 am

Outlook of Small Business Manufacturing Owners Fall 2009 Survey

Manufacturers Are Most Likely To Say Employee Morale Has Worsened; Retailers Have the Least Positive Outlook on the Economy Compared To Business Owners over All; Businesses in the Services Industry Are Least Likely To Take a Risk.(Manufacturing & Technology eJournal | October 21, 2009)

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October 27, 2009 at 8:00 am

Certified Cargo Screening Program (CCSP)

Effective Monday, February 2, 2009, companies within the United States will be able to apply to the CCSP program. Facilities that successfully apply and participate in the CCSP program will be designated as Certified Cargo Screening Facilities (CCSFs) and must adhere to TSA mandated security standards. To learn more about the program, please visit the Transportation Security Administration website

January 30, 2009 at 7:47 pm

Preventable Job Cuts

Economy: No one has pleaded as earnestly for Congress to pass a Colombia free-trade pact as Caterpillar. Now, with earnings down and 20,000 American jobs to be lost, it’s obvious why. Trade would have cushioned this blow (Investor’s Business Daily, January 26, 2009). Read Full Article

January 28, 2009 at 2:05 pm

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Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
To learn more about the program, please email Kyle Horseman or call 859.426.3653.

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