Growing Your Business Globally, World Trade Day and Currency Exchange on International Business Radio
Guests on this episode:
Dr. Diane Alleva Caceres, CEO of Market Access International
Founder and Chair of the World Trade Day Conference in Georgia
International trade, investment and organizational growth work in Europe, Canada, Pacific and emerging markets in Latin America, Africa, Asia, Middle East, Central & Eastern Europe.
Founded Market Access International, Inc. in Atlanta, GA in 1997. Company is an international trade & investment development firm with both private and public sector clients (USAID, USTDA, foreign economic development agencies, international financial institutions). Prior to founding MAI, worked in Washington, D.C. for 8 years in this field.
Specialties: International business development; SME global growth; Foreign Direct Investment strategies and workplan implementation; Market Assessments & Strategies; International Finance Mobilization; Mentoring; Corporate Growth
Diane on Linkedin: https://www.linkedin.com/in/dianeallevacaceres
Juan Pablo (JP) Carriedo, CEO of Tempus
Specialties: Banking management and compliance; credit and market risk assessment; M&A; corporate strategy consulting; international payments; currency foreign exchange; hedging solutions.
Juan Pablo on Linkedin: https://www.linkedin.com/in/jcarriedo
Topics Discussed in this Episode:
- What are the pros and cons to growing your business globally?
- World Trade Day – celebrates economic growth, promotes and honors the international trade community and their contributions to the economic power of our region.
- What to consider before deciding to expand your business internationally?
- Once you decide to go global, how can you protect and maximize your profit margins?
- One of the more significant effects that the internet has had for businesses, small and large, is the ability to reach an international audience and grow their business globally.
- What are the benefits and drawbacks of doing so?
- Anyone can do this, even from the comfort of their home, but just because you can doesn’t mean everyone should.
- Advantages: companies finding high quality products and services at competitive prices, which can enhance domestic competitiveness marked up from their bank and then attributed extra 2-3 percent in order to protect themselves against any currency market fluctuations.
- Often people think converting money equates to a loss, this isn’t necessarily true. Certainly unexpected currency fluctuations can destroy your profits, but it can also produce a windfall. The relative strength of the US dollar against the currencies in the countries you supply can make your products and services either expensive or inexpensive. This can be controlled through currency hedging, but unless you know a great deal about this, it is always wise to seek
the consultation of a professional currency trading firm.
- International credit card transactions and regional bank rates can prove to be problematic and costly. It's about making the right decision at the right time regarding global payments to positively affect profits. That's where Tempus brings specialized expertise. Keeping companies informed of current activity in the global markets so they can make the right decisions regarding global payments in order to positively affect profits. Tying it back to the beginning of the podcast about the internet revolutionizing the way we do business, companies need to find robust online platforms that can keep up with growth and offer an easy-to-use interface, which is exactly the basis for the Tempus online trading platform.
What should a business owner consider before deciding to expand their business internationally?
Business owners must consider many factors when determining whether to expand a business globally. In addition to developing a business plan and defining your short, mid, and long term...
