The state of small black business - includes related article on small business financial assistance

Black Enterprise, Nov, 1997 by Wendy M. Beech

Leary assists large and small American companies in trying to market their products/services in foreign countries. She has helped ice cream giant Ben & Jerry's and cosmetic manufacturer Estee Lauder market their products in the Japanese marketplace.

Doing business globally can create a competitive edge for black businesses, particularly since minority firms have a unique advantage over majority-owned companies. "One of our greatest skills is coping with being outside of a larger culture, and it's a skill that serves us well when we go into foreign countries," says Leary. "We can quickly acclimate ourselves and develop strategies to fit in."

But how black businesses position themselves at the start can make or break fortunes. To successfully do business globally, black entrepreneurs must first know the product or service they wish to import or export. They must research and understand their chosen global market (e.g., be aware of the issues, legalities, taxes and other aspects unique to the country), be open to the culture and its challenges and exercise patience. (see "Ship It," May 1997.)

Leary says black businesses needn't be overwhelmed by the notion that the global marketplace is an expensive proposition. Exercising this strategy can begin by simply talking to those familiar with working overseas. "For example, if you're interested in going into the Japanese market, build your network with the movers and hakers in the Japan Society and make yourself familiar with what's going on," says Leary.

Leary suggests that small black businesses take part in trade missions to learn about the international arena and to gauge what opportunities exist overseas. The National Minority Business Council, a minority business advocacy group in New York, is planning a trade mission to South Africa, March 19-29, 1998. For more information, call the NMBC at 212 573-2385, ext. 3.

"The bottom line is that we can compete going into the 21st century," says Barnes. "But we must ask ourselves, do we see ourselves as being successful and are we willing to support other black-owned businesses? If so, the future can be bright. It's really up to us."