February 10, 2004
Written by Bob Meyer, Editor of BarterNews
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Entrepreneurship Growing Worldwide
According to the fifth annual Global Entrepreneurship Monitor, a study of small-business activity worldwide, an estimated 300 million people around the globe were trying to launch new firms in 2003.
The most entrepreneurial countries among the 41 studied are Chile, South Korea, New Zealand, Venezuela and Uganda. More than 80% people involved in starting a business are also employed in another job.
In the U.S., more than 11.3% of adults were involved in starting or running businesses in 2003...up from 10.5% in 2002.
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Australia's BBX Looks Toward Going Public
Michael Touma, managing director of Business Barter Exchange (BBX) has informed BarterNews that his company expects to be listed on the Australian Stock Exchange by September, 2004.
BBX has been working with Dennis Rutzou Public Relations for the past year and they will continue to handle the marketing and PR for BBX in Australia.
BBX has 12 offices and is South Asia's second largest exchange with operations in New Zealand and Australia's South Australia, Victoria, Tasmania, Australian Capital Territory, Queensland and New South Wales. Trade volume approximates $10 million a month. For more information see: www.ebbx.com.
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It's Simple-Invest In Your Company Or Die!
That's the sober advice from Craig Barrett, Intel's CEO. He says a company can only be successful by investing...it can't "save" itself out of a recession, nor can it "save" its way to prosperity. That and other thoughts were shared in the February issue of Business 2.0, as Barrett looked at the massive changes in the world's economic environment.
He relates that in just five years, India, China, Russia, and some of the Russian satellite countries—close to 3 billion people—have been brought into the mainstream capitalist economic infrastructure.
But, Barrett warns, it won't be a gentlemanly competition because the standard of living isn't the same, as we are used to with Japan and Western Europe. These newcomers are coming into the system at substantially lower wage rates, yet a reasonable fraction of them have pretty good educations and a long history of respect for education.
Today, everyone can move up to the next level of the food chain. And, Barrett declared, "Unless you're my auto mechanic or plumber, I don't care where the heck you're located."
The road map of how the transition will go, if the U.S. doesn't begin to do some things differently, can be seen by looking at old Europe. Namely, he said, "France and Germany have already started getting frozen in place in terms of their social infrastructure and societal laws and just accepting rising unemployment."
of Barrett's is that the U.S. isn't investing the way it needs to in basic
research and development in the basic sciences. We now spend around $5
billion a year, compared to $35 to $40 billion a year in agricultural
subsidies, not to mention steel, soft lumber, catfish, shrimp, and textiles.
We're busy protecting the industries of the 19th century,
Regarding the offshoring of jobs and outsourcing of manufacturing, Barrett says they're tactical moves to control expenses,but they don't guarantee a company a position in the future.
"You only," Barrett says, "get a position in the future by investing, creating something new, and staying ahead of the competition. So it's simple. Invest or die."
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