As more and more small business owners venture into different industries, there is no denying that there are risk factors associated with starting a business. This can vary from the state of the economy to the latest trends in demand for the business to succeed. Nevertheless, there has been an increase in the number of small business owners within the U.S., reaching over 430,000 new businesses per month in 2024, a 50% increase compared to 2019. Kicking off the new year of 2025, various considerations and influences need to be considered for current and future entrepreneurs worldwide.
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United States President Donald Trump has introduced a 25% tariff on imports from Colombia. This follows Colombian President Gustavo Petro’s decision to reject two Colombia-bound U.S. military aircrafts carrying migrants.
The dual actions are expected to spark ripple effects in international supply chains, impacting business and economies across the globe.
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In early January, China released its 2024 trade surplus at a staggering $990 billion, shattering the previous record of $838 billion set two years prior. Exports in December also reached new highs with a surplus of $104.8 billion in the month alone. While some economists believe this shows China’s dominance in manufacturing, others argue it shows unsustainable growth with risks of deflation.
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Tragedy has struck California as devastating wildfires, which began on January 7th, continue to ravage the region. Over a week later, the fires show no signs of slowing, leaving destruction and heartbreak in their wake. More than 180,000 people have been impacted, with countless residents displaced, homes destroyed, and lives tragically lost. This disaster marks a dull beginning to 2025, compounding the challenges those in the affected areas face.
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Welcome back to the globalEDGE Blog! With the start of the Spring 2025 semester, our Michigan State University student authors are excited to bring you another season of blogs.
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As the semester winds down, the globalEDGE team is preparing for a well-earned winter break. Your engagement and support motivate us to continue striving for excellence. We encourage you to explore the diverse content available across the globalEDGE website during this time. In the meantime, check out our social media—we recently joined Instagram! Check us out @msuglobaledge.
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In recent years, there has been a noticeable rise in the emphasis on Environmental, Social, and Governance (ESG) principles, which are now shaping industries, governments, and education systems worldwide. Business schools are critical in preparing future leaders to address sustainability challenges. However, integrating ESG principles into business education differs significantly between regions, mainly Europe and the United States.
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XRP has risen to become the third-largest cryptocurrency behind Bitcoin and Ethereum, which has helped contribute to a turning point in digital assets. Ripple is the company behind XRP, and the success of this crypto comes from its research into a creative strategy for revolutionizing international payments processing. The blockchain-based payment network RippleNet has positioned XRP as a pillar of global banking and collaborated with top institutions throughout the globe.
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The British Columbia Maritime Employers Association has locked out more than 700 supervisors at ports throughout British Columbia. At the same time, a strike at the Port of Montreal, the biggest port in eastern Canada, continues to cause problems. The strike has already led to partial closures, affecting 40% of the port’s container traffic. Shipping delays could quickly add up, potentially disrupting important international shipments and creating significant economic challenges for global businesses and consumers.
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The whisky industry, long dominated by traditional producers in Scotland, Ireland, and the United States, is experiencing a shift in international markets. Recent developments highlight international challenges and opportunities for whisky producers, highlighting the changing dynamics of international trade and shifting consumer tastes.