VIDEO: Towson Global Helps Entrepreneurs Bring Dreams to Reality

February 2, 2011

Clay

TowsonGlobal-Business Incubator was featured earlier this week in a news segment on WJZ. The segment emphasized that despite the tough economic climate for starting a business, Towson University’s incubator makes it easier for entrepreneurs to gain access to the resources needed. The new Business Plan Competition was highlighted as was new member, Keffa Coffee. If you are interested in participating in the Business Plan Competition, don’t forget that Executive Summaries are due on February 7th.

Leave a Comment » | Entrepreneurship, International Business Development, Small Business Development, Students, TU Faculty & Staff | Tagged: , , , , , , , , | Permalink
Posted by Clay Hickson

Should a Small Business Go Global?

August 31, 2010

Clay

I frequently hear people say that small companies, especially entrepreneurial ventures, should not be thinking about the global market place.  After all, they’re just a local company and need to be focusing on the home market, right?

Well, maybe, but in this age of globalization not considering the opportunities of international business could very well mean the difference between growth and stagnation.

Almost half of US businesses are predicted be involved in international trade by the year 2020, and US Department of Commerce data indicates that large companies currently sell only about 4% of US exports.  That means that 96% of exports are sold by smaller companies!

International business can be an important strategic option for small businesses.  It can open many new doors for success, but the key is determining why you want to get involved in international business.

Do you want to go global to:

  • Expand customer networks?
  • Gain exposure to new ideas and technology?
  • Find new ideas for global sourcing?
  • Or, just because everyone else is doing it?

A company’s motivation for pursuing international business can be very telling and help determine the likelihood of success.  Programs that are most likely to succeed are those that are planned for the long-term, and include market research, international relationships, and logistics arrangements.

International business can contribute to long-term growth of a small business, and also can enhance competitiveness.  By buying and selling internationally, a company can gain insights on customer requirements, competitor activity, and different ways of doing business.   Companies also may acquire new technologies, ideas, and partnerships from the process.

Once a company decides to go global, commitment from the management team is the number one determining factor of success. Management can show their commitment to an international program by setting aside funding, allotting time to manage the program, and assigning personnel to perform its tasks.

Taking advantage of international opportunities now is easier then it’s ever been.  The Internet and other modern communications technologies make the buying and selling of all types of products, services, inputs, and components a viable option for many businesses of all sizes, almost anywhere in the world.

For information on how TowsonGlobal can help your business take advantage of international opportunities, check out www.towsonglobal.com.

Photo Credit: Barun Patro

Leave a Comment » | Business Analysis, Entrepreneurship, International Business Development, Small Business Development | Tagged: , , , , , , , , , , , , | Permalink
Posted by Clay Hickson

Global Entrepreneurship Week 2009

November 16, 2009
clayIcon

Clay

From November 16 to 22, 2009, millions of young people around the world, and right here in Towson and the Baltimore region, will join a growing movement of entrepreneurial people, to generate new ideas and explore ways of doing things better. Students, educators, entrepreneurs, business leaders, non-profit leaders, government officials and many others across six continents are coming together to celebrate Global Entrepreneurship Week, an initiative to inspire young people to embrace innovation, imagination and creativity.

Global Entrepreneurship Week helps young people realize their potential as self-starters and innovators.  Through this initiative, the next generation of entrepreneurs will be inspired to take action. In doing so, they will begin to acquire the knowledge, skills and networks needed to grow innovative, sustainable enterprises that will have a positive impact on their lives, their families and communities.

gew

TowsonGlobal, Towson University’s international business incubator, is serving as an official partner and is supporting the mission of the movement by participating in or disseminating information on several activities during that week, such as:

  • The Bilingual Entrepreneur Lecture Series (Foreign Languages Day)—These lectures by yours truly will help focus attention on the importance of learning at least one other language and on participating in study abroad programs, which can enhance a student’s ability to do business in today’s global economy.  This event also coincides with International Education Week.
  • JA BizTown—Junior Achievement of Central Maryland will host several elementary schools for JA BizTown throughout the week of November 16-20.  JA BizTown, is an experiential economic simulation in a 10,000-square-foot replica of an American city that helps upper elementary school students prepare for and become productive citizens.

Through the many different programs and partnerships Global Entrepreneurship Week hopes to achieve four goals:

  1. Inspire young people under the age of thirty to consider entrepreneurship as a career path.
  2. Connect young people and organizations across national boundaries to discover new ideas.
  3. Mentor the next generation of talent as they pursue their dreams with inspiring support from entrepreneurs from around the world.
  4. Engage opinion leaders and policymakers on the topic of how entrepreneurship is central to a nation’s economic health and culture.

1 Comment | Education, Entrepreneurship, Events, International Business Development, Small Business Development, Students, TU Faculty & Staff | Tagged: , , , | Permalink
Posted by Clay Hickson

Follow

Get every new post delivered to your Inbox.