An older piece but interesting.
International Connections
by Jane Applegate
March, 1999
PARIS ... Governments and international corporations are embracing the euro, borrowing 194 billion euro since the new currency took effect in early January. Bankers, venture capitalists and money managers are also on the euro bandwagon, because using a common currency streamlines multinational deals.
But don't talk about euros to Daniel Ghinea, owner of Roselys, a tiny art and gift gallery in the picturesque Marais district here. "I don't want to think about the euro until the very end when I have to," said Ghinea, who, like other small-business owners interviewed, would be happier if they could just keeping doing business in francs. Ghinea shows me the simple tools of his trade: a palm-sized calculator and a bank card machine. "All this will have to be changed to handle euros," he said. "I don't like to think about it."
Ghinea, who quit his job at an automobile dealership four years ago to follow his dream of selling French handicrafts, is just now starting to earn a decent living. The French, he explained, are very traditional when it comes to decorating their homes, preferring fine china and crystal to hand-thrown pottery and scented candles. While he is building a local clientele, he sells quite a few hand-painted silk scarves, handcrafted jewelry and handmade greeting cards to tourists who continue to order from him after they return home.
Although the small-business owners here are resisting change, they know it is inevitable. In fact, every small cafe and shop I visited had already adjusted their cash registers so receipts printed out the amount in francs and euros. This was impressive, given that euro coins and currency won't begin circulating until January 2002.
On Jan. 4, 11 European Union nations began using euros for all electronic trading in stock and for government transactions. The relatively smooth transition has prompted opponents in Denmark and Sweden to re-examine their opposition. And Britain, which has resisted giving up the British pound, will give its citizens a chance to vote on the issue by 2002, according to recent news reports.
Prime Minister Tony Blair was quoted as saying his government is making "active preparations" for the euro and pledged to spend what it takes to make British government departments "euro-compatible." Learning more about the euro is now on the to-do list of export-savvy American entrepreneurs. But dealing with a common currency seems easy in comparison to finding solid business opportunities overseas, according to international trade experts.
Although the Internet is touted as the key to international trade, nearly half of those participating in a recent survey said they cannot find what they need to do business internationally.
"Specifically, they cannot locate partners," says Abby Shapiro, CEO of International Strategies, the Boston-based Internet company offering services for business owners via its website, www.exporthotline.com. "Exporthotline.com users understand that with the Internet there is the potential to talk to anybody, but to do this successfully, there must be better access to an international audience," said Shapiro. "Users need to know who is out there and how to contact them." In a recent poll conducted by exporthotline.com and American Express Foreign Exchange Services (FES), 700 exporthotline.com users revealed their frustrations with the web, particularly with online searches for international contacts and leads.
The poll concluded that the more people use the Internet for international business, the more frustrated they become by its size, lack of organization, and its lack of comprehensive search engines and current directories. The poll indicated that over 50 percent of business owners want better-quality search engines and directories?specifically, directories better focused on their need to find potential trading partners. If the Internet is going to continue to serve as an invaluable global marketing tool, it needs to adapt to the needs of these companies, especially since 90 percent have or will have Web sites in 1999, Shapiro said. Exporthotline.com relaunched its free Global Business Directory?ExporTel?in January 1999. ExporTel enables businesses to locate international partners in an easy-to-understand format. Companies can register and list for free at www.exporthotline.com. In April, ExporTel will launch its new Alert service, which notifies members about new listings, trade leads, and much more. All registered users will be contacted when the Alert service is launched and receive a free trial subscription. Shapiro said Export Hotline has provided affordable access to international business information since 1989. The site maintains a proprietary database of more than 6,000 market research reports (covering 80 countries, and hundreds of industry sectors), and ExporTel, the free Global Business Directory, which lists business contacts in 90 countries.
Briefly ... We goofed! The correct name of the student-run laundry service recently profiled in this column is G&C Student Laundry Services, not C&G. We apologize for the error.
Three small companies demonstrating leadership in sales, employee productivity and customer satisfaction won a national competition sponsored by Sprint Business.
International Speakers Bureau of Dallas placed first, STATT Corporation, an Overland Park, Kan., computer company, placed second, and Markon Pen & Pencil, of Mineola, N.Y., won third-place, according to Sue Sentell, vice president of marketing for Sprint Business.
"We set out to find out how small businesses use their available tools and resources to propel their organizations into a position of long-term success," said Sentell.
Sprint Business awarded International Speakers Bureau a productivity package valued at more than $15,000, including one free day of consulting services valued at $8,500 from productivity expert Wayne Burkan. Second-place winner STATT Corporation received $3,000 of free Sprint domestic and international long-distance calling and a free benchmarking study. Third-place winner Markon Pen & Pencil received $1,500 of free Sprint domestic and international long-distance calling. |
