Blog

  • 29 Oct 2018 by Jeffrey Campos

    During our October 25 Global Affairs Meeting, guest Secretary of State Wayne W Williams was joined by, former candidate for Colorado Governor, Greg Lopez to discuss our upcoming election on November 6. 

    Secretary of State Wayne Williams has spent his career as a public official working for transparency and accountability in government, fair and efficient elections, and increased voter access. As Secretary of State, he has overseen all state primary, coordinated, recall and general elections in Colorado since 2015. Secretary of State Williams discussed that there is nothing political about running clean elections and the challenges that our state has in its future. He reviewed how elections are monitored and controlled to make them fair.

    Greg Lopez then spoke regarding his campaign run for Governor.  His commitment to championing the ideas and amplifying the voices of all of Colorado was prominent in his presentation. Mr Lopez discussed what was ahead in the election, but most of all, how trying it is to run for office.

    We then concluded the morning with a presentation from our Global Affairs Chair Matthew LaCrue, Denton on upcoming issues on the ballot this year. We have some major decisions ahead that could potentially change the landscape of our state in 2018.

     

  • 19 Oct 2018

    Effective Oct. 1 2018, EKS&H and Plante Moran combined to create the 11th largest accounting, tax, consulting and wealth management firm in the nation.

    The combination allows EKS&H, one of the largest CPA firms in the Rocky Mountain region, to join the thriving 94-year-old firm and strengthen its expertise in private equity, wealth management, health care, financial services and manufacturing. 

    “We’ve spent the last three months preparing for this combination, and we’re already seeing early signs of success,” said Plante Moran Managing Partner Jim Proppe. “In addition to better service to our clients and more opportunities for our staff, our combined expertise is creating new business opportunities –– not only in Colorado, but across the country.” 

     

    Through the combination, Plante Moran adds offices in Downton Denver, the Denver Tech Center, Boulder, and Ft. Collins and clients throughout the Western United States, expanding its domestic presence beyond the Great Lakes region and strengthening its expertise in energy and other key market segments. The offices will be led by the following partners:

    • Joe Bertsch, CPA,the EKS&H lead tax partner will become the managing partner of Plante Moran’s Rocky Mountain region. 
    • Jim Cowgill, CPA,the EKS&H Boulder office lead, becomes managing partner of Plante Moran’s Boulder office. 
    • Chris Otto, CPA,the EKS&H Fort Collins office lead, becomes managing partner of Plante Moran’s Fort Collins office. 
    • Jeff Watkins, CPA, JD,formerly EKS&H’s Wealth Advisory Services lead, becomes Plante Moran’s Rocky Mountain regional tax director. 

     

    “EKS&H leaders and their teams have a proven track record providing their clients exceptional service and expertise, and we’re excited to see our two teams coming together to share their combined experience and insights,” Proppe added. 

    With the combination complete, Plante Moran now has a staff of more than 3,100 professionals throughout Colorado, Illinois, Michigan and Ohio with international offices in Shanghai, China; Monterrey, Mexico; Mumbai, India; and Tokyo, Japan. Both Plante Moran and EKS&H have been recognized by a number of organizations, including FORTUNE magazine, as one of the country's best places to work. For more information, visit plantemoran.com.

  • 04 Oct 2018 by Global Chamber

    Ambassador Shotaro Oshima and a delegation from Japan visited with Aurora Mayor Bob LeGare and City Manager Jim Twombly Monday October 1st.

    The event was sponsored by City of Aurora and Global Chamber

    The discussion centered around economic and business relationships with Japan and the U.S.

    The event was held in the Aurora Municipal Center City Council Chamber.

    The program was “Walk in U.S., Talk on Japan”. Great discussion!

     

     

     

  • 20 Oct 2018 by Global Chamber

    Recently Polsinelli - Denver hosted a wonderful event thanking our members and honoring extra special international achievers.

    Thank you all for being part of the global tribe.

    Special recognition to the award winners.

    And extra thanks to Polsinelli for hosting!!

     

  • 03 Aug 2018 by Global Chamber Denver

    Each year, Global Chamber Denver would like to recognize the accomplishments of its members and thank them for participating in and supporting the Chamber.  

     

     

    Business of the Year is presented to the business that has achieved growth and prominence in the Denver business community, demonstrated success in their business practices, and shows devotion to community engagement. 

    This years Business of the Year award is presented to CoBiz Financial.

    CoBiz Financial is committed to serving the complete financial needs of successful businesses, business owners, professionals and high-net-worth individuals. They create thoughtful, integrated, comprehensive solutions tailored to each customer's needs, thereby freeing them to succeed personally and professionally.

     

     

     

    Chamber Champion is presented to an individual or business that goes above and beyond to support the Chamber through sponsorship, event attendance, and truly embodying Global Chamber's goal of fostering cross-border trade and investment.

    This years Chamber Champion award is presented to Frances Mickelson of Cornerstone Advisors.

     

    Whether they are managing the growth and transfer of personal wealth, strategizing dynamic business solutions, or coaching  people to achieve their previously unimagined bests, Cornerstone Advisors Uncommon Vigilance and hands-on personal approach are truly unlike anything anyone else delivers.  Cornerstone Advisors excel in offering services for compensation planning, strategy execution, human capital development business improvement, and wealth transfer. 

     

    Entrepreneur of the Year is presented to the entrepreneur who has initiated economic growth, is active in community service and leadership, and demonstrates innovative efforts. 

    This years entrepreneur of the year award is presented to Pilar Camargo of Multilingual Services.

    Mile High Multilingual Services is a Colorado-based professional company founded in 2004 with the mission of promoting and providing the best linguistic services.  Mile High Multilingual Services main goal is to serve their communities by following high standards of professionalism, honesty, respect and dedication.

     

     

    Public Service Award is presented to a government entity, non-profit, or association that has excelled in economic growth, community development, and has gone above and beyond in supporting Global Chamber's efforts to make Denver a global city. 

    This years Public Service award is presented to the City of Denver.

    There’s a unique energy and spirit that draws people to the Mile High City and it all begins here, at the City and County of Denver. Over 11,000 employees work together every day to make this a world-class city where everybody matters.  They City of Denver prides itself on providing exceptional neighborhood, business, tourism, and government services. 

     

     

     

     

     

  • 17 Jul 2018 by Global Chamber Denver

    The One Belt One Road Initiative (BRI), launched by Xi Jinping in 2013, is evidence of China’s expanding ambitions to increase its geopolitical presence and further establish its status as a geopolitical powerhouse. The extended, cross-continental reach of this project, paired with its link to China’s historical silk road is in line with Xi Jinping’s focus on Chinese rejuvenation, and presents immense economic opportunities for both China and all countries involved.

     

    If the BRI is successful, China will have helped to establish the necessary infrastructure to help create an economic network stretching across multiple continents. China has already promised $4 trillion of investments in 65 countries, spanning across Asia and even reaching central Europe and parts of Africa. These countries contain 70 percent of the world’s population, 55 percent of the world’s GNP, and 75 percent of the world’s energy reserves [1]. China hopes that its investments will help to improve and aid in the development of infrastructure throughout regions critical to the BRI, making China a driving force of regional economic prosperity.

     

    There is a global need for infrastructure development, and China’s BRI has the potential to provide loans and projects to fill this void. If completed, China’s OBOR will help construct and improve transportation networks throughout several continents, and create a network directly linking Asia, Europe, and Africa. These projects appeal to countries that are lacking in domestic infrastructure needed to facilitate trade and draw in international business. China has provided loans that improve roads, railways, and ports, all crucial pieces of infrastructure that can help develop economic growth.

     

    These projects are significant for the more than just the physical structures that they will create—the majority of BRI projects are funded through Chinese sponsored loans, and a significant amount of the contractors used to complete the projects are Chinese companies. Several countries are eager to accept loans from China to develop their own their local infrastructure, with the hopes of improving the prospects of their domestic economies. However the status and repayment of these loans has the potential to have lasting implications on China’s stake in key infrastructure throughout the region.

     

    Chinese entities are often willing to provide loans that are deemed too risky by Major Development Banks. Chinese loans in these cases often come with high interest rates, which can present a risk for the lender. Countries that accept these loans run the risk that they will not be able to repay their loan according to the original terms. These cases can present opportunities for China to achieve more that just a financial stake in infrastructure projects. For example, when Sri Lanka was unable to pay the interest on its $1.3 billion loan, China was willing to take equity in the port the loan funded. [2] These terms have given China a vested stake in Sri Lankan infrastructure that will extend beyond the repayment of the loan.

     

    Some critics warn that if Xi Jinping is not careful, China risks overextending its resources and capabilities throughout the region. Although China has successfully implemented mass infrastructure development domestically, bringing these strategies into an international context presents more factors and risks to be considered. Not all Chinese infrastructure projects have been well received by local populations, and there are several instances of local populations pushing back against Chinese investment projects due to claims of poor compliance with environmental standards and unfair labor practices. [3] Although many of these instances exist outside the scope of the BRI, these tensions show that Chinese led projects are not immune to risks and setbacks due to pushback from local populations, and that a warm reception to the BRI is not guaranteed.

     

    A successfully implemented BRI could have immense long-term impacts on the region, increasing China’s international influence, and economic ties throughout Asia, Europe, and Africa. It is no doubt that the BRI has the potential to create increased economic opportunities for several countries through the creation of much needed infrastructure, however the success and lasting economic impact of these projects is not yet set in stone and will be influenced by the varied economic and political factors of each country involved.

    - Kathryn Walsh

    [1] https://thediplomat.com/2018/06/what-does-chinas-belt-and-road-initiative-mean-for-us-grand-strategy/

    [2] https://www.csis.org/analysis/chinas-belt-and-road-initiative-five-years-later-0

    [3] https://www.cfr.org/backgrounder/china-africa

    [4] https://www.brookings.edu/research/chinas-one-belt-one-road-initiative-a-view-from-the-united-states/

    [5] https://thediplomat.com/2018/04/the-risks-of-one-belt-one-road-for-chinas-neighbors/

     

  • 17 Jul 2018 by Nick Carpenter

    Recently, the news has been awash with reports about tariffs and trade barriers enacted by President Trump’s administration. It seems that week after week there is talk about new trade restrictions with the European Union and Canada. On the other side of the world, hangs the “trade war” with China, a set of tariffs enacted by the Trump Administration and retaliatory tariffs enacted by the Chinese government in response. There has been endless analysis from economists, politicians, and the like. Most of this analysis has been done in terms of political fallout or theoretical economic principles. Very little of this has gotten to the heart of how these tariffs will impact businesses and individuals.  Last week, the Chamber of Commerce of the United States released a report that laid out the projected cost of the Trump Administration’s tariffs and tariffs that will be implemented in retaliation by the numbers in each state. Though the report did include all 50 states, this article will be focusing on overviewing the report’s projections for Colorado. If you would like to know the figures for other states, that information is available here CCUSA website for the figures for other states.

     

    Colorado’s trading partners that the Trump administration has enacted tariffs on are Canada, China, the European Union, and Mexico. Specific industries have also been singled out for tariffs and trade barriers such as aluminum, food, cosmetics, and raw materials.

     

    For trade between Colorado and Canada, the new tariffs impact food companies, aluminum production, and cosmetics. In total, the new tariffs are projected to cost Colorado $50,653,642.  Tariffs on exported food items such as bread and pastries will cost $13,536,293. Tariffs on aluminum products will loose $9,046,224 and soap exports tariffs will cost $5,501,031.

     

     Colorado’s exports to China that will be impacted by the new tariffs fall in aluminum exports, meat exports, and vehicle exports and will cost $30,310,164 in total. Tariffs on aluminum exports to China will cost $29,111,373. Meat exports will cost $272,139, while vehicle export tariffs will cost $201,750.

     

    Tariffs imposed on the European Union, will primarily impact iron ore, steel, motorcycle components, whisky and will cost the state a total of $8,246,390.  Iron ore and steel exports will cost $4,822,794. Tariffs on components used in motorcycles will cost $1,123,744 while tariffs on whiskey exports will cost $624,743.

     

    Tariffs on products exported to Mexico—One of Colorado’s largest trading partners—will be significantly more costly. In total, new tariffs on goods exported to Mexico will cost Colorado $187,658,359. The food industry will be affected the most.  Non-frozen meat products, cheese products, and frozen meet products being targeted. New tariffs on non-frozen meat will cost $105,838,309, on cheese $35,927,033 and on frozen products $15,833,694.

     

    In total all of these tariffs will cost the state $ 276,868,555. The report also raises significant concerns over what the new tariffs will do to Colorado’s job market. According to the CCUSA, Colorado has 733,900 jobs that are supported by global trade. These jobs are at risk because they rely on global sales of the products listed above. If sales of these products go down due to the rising prices, it could put all of those jobs in jeopardy.

     

     

  • 10 Jul 2018 by Chad Prather

    In today’s globalized economy, international investment matters now more than ever.  With recent events such as the Greek government debt crisis and the development of the Brexit movement, all eyes are on the European Union.  Despite the controversial aura that surrounds these events, the European Union still proves to be an attractive opportunity for investors around the world.  One of the biggest advantages with the European Union is that “the investment policy of the EU is tilted more towards providing investors with a kind of stability and legal certainty coupled with an environment conductive to carry out business and in accordance with the international rules.”  The European Union has proven itself to be an international hotspot for foreign direct investment (FDI).

    As one can recall, foreign direct investment is when businesses or individual’s setup or buy a company abroad.  Impressively, the European Union “is both the largest provider and destination of FDI in the world, measured by stocks and flows.”  Statistics show that international investments into the European Union are worth €5.4 trillion and directly support 7.6 million jobs within the economic community.  On top of this, European Union investors abroad are worth about €6.9 trillion and support and additional 14.4 million jobs abroad.  This is why international investment matters so much.  Join Global Chamber Denver on August 29th and 30th to meet and discuss the next step for U.S. trade with the European Union. 

     

  • 09 Apr 2018 by Abdelhak Benkerroum

    It is said that in the West everything is easy, but nothing is possible. Whereas in China nothing is easy, but everything is possible. Those who have been doing business in or with China understand this maxim well. They also understand that in Chinese society, the personal, professional and political spheres overlap. Examples abound of businesses that have failed or succeeded in China depending on their level of understanding of this reality. Google’s attempts to make inroads in the Chinese market are a case in point. After years of struggles, its CEO Eric Schmidt stated “China is a nation with a five-thousand-year history. That could indicate the duration for our patience.” Given the non-confrontational nature of the Chinese culture, messages are never communicated bluntly, but through hints. Because I lived in China for years, I got into the habit of interpreting statements from different angles. While Mr. Schmidt’s statement could be interpreted differently depending on the circumstances, it is clear that it highlights the fact that there are some things that just take time to happen in China. One of those things is building a good relationship with the other party. It is a commonly held view among foreigners that building long lasting relationships with the Chinese party is a pre-requisite to getting anything done. In the Chinese culture, that process often takes place around a tea set or a dinner table.

    It is customary to be invited by a Chinese partner to drink tea. Chinese believe it’s better to be deprived of food for three days than tea for one. This emphasizes the tea drinking process as a ritual through which some aspects of the Chinese culture are articulated. Far from being a mundane ceremony, it is an occasion for the Chinese party to size up the other party. When drinking tea, the other party is often asked about their marital status, personal achievements, plans for the future, experience with China, culinary preferences…etc. That exchange is meant to establish where does the guest stand. Is he/she someone that could be trusted or not? Once answers to those questions are established, the Chinese party might start invoking business ideas. If you ask a Chinese businessman whether he would like to do business with someone who is competent or someone who can be trusted, he would choose the latter. The ideal match would be someone who can get the job done, and at the same time could be trusted. But with a population of 1.4 billion people, it might take some time to find that match. And time is a valuable commodity. Once the Chinese party starts transitioning towards the business talk, all topics will be addressed in broad strokes. At this stage, everything will seem opaque to the foreigner businessman who has his mental boxes and checklists. The Chinese party will not answer any key question with a straight yes or a straight no. Not yet, not at this stage. For now, a “basically no problem” means “big problem”, and a “yes” is not an indication of agreement. Things will change and start getting clearer as the exchange progresses, and as the relationship is being cemented. Think of the tea drinking ceremony as an interview to get accepted by the other. Go along with it, sit back, and enjoy it. It is said that patience is also a form of action.   

     

    Abdelhak Benkerroum is the author of the book We Have a Deal as well as the founder and director of Eastheimer Training and Consulting. He lives in Shanghai.

  • 03 Apr 2018 by Steve Suneson

    The new United States Tax Cuts and Jobs Act (officially known as "an Act to provide for reconciliation pursuant to Titles II and V of the concurrent resolution on the budget for fiscal year 2018") (the “Tax Act”) went into effect January 1, 2018.  This article posits that inbound investment into the US is poised to grow significantly as a result of the Tax Act and examines some related cross-border areas that should be carefully considered by a foreign companies operating in the US. This discussion is not intended as a detailed tax analysis of the Tax Act for which an experienced cross-border CPA should be consulted. 

    The US has long relied on its dominant economic power in the world to attract foreign investment.  However, its corporate tax rate has lagged behind other industrialized nations.  The maximum federal corporate income tax rate until this year (under a progressive tax system) was 35% (plus applicable state income tax).  The new Tax Act introduces a flat corporate tax rate of 21% which is not only competitive with, but in some cases lower than, other industrialized nations.  The corporate alternative minimum tax (AMT) was also eliminated. In most cases, these changes will result in tax savings on income earned by foreign-owned US businesses.  Given its dominant position in the world, and setting aside other fluctuating variables which may affect the US economy, it seems likely that foreign investment into the US will grow, perhaps substantially, as a result of the Tax Act. 

    Nevertheless, a foreign company operating in the US should take a nuanced view of the Tax Act.  The Tax Act contains both benefits and potential drawbacks and appropriate business and tax planning is important.

    A critical aspect of foreign-US related or affiliate company structure is transfer pricing planning. The Tax Act directly impacts such structuring. 

    It is common for foreign companies to form US subsidiaries and thereafter enter into transfer pricing agreements between the parent company and the US subsidiary for items such as intercompany administrative services, management services and/or intercompany IP licenses.  In the case of start-up US subsidiaries, these agreements are especially necessary because the US subsidiary often has limited expenses (few or no employees, less leasing costs, etc.).  Instead, all or most of the back-office services to support US operations are provided by the parent company in the home nation.  This results in US revenues which are not accompanied by associated US expenses but which instead are incurred in the home nation. Historically the US tax rate has been significantly higher than most home nation tax rates which generally has incentivized having lower taxable US profits. Transfer pricing agreements are intended to harmonize revenue and expense in the two jurisdictions and, often, reduce US profit in accordance with complicated transfer pricing regulations.

    At first blush, the reduction of the US corporate tax rate to 21% eliminates a common reason for transfer pricing planning.  Caution is advised, however, because the Tax Act expressly discourages strategies to exploit gaps in tax rules to artificially shift profits to low or no-tax locations (“base erosion”).   Not only will transfer pricing agreements remain important to comply with applicable transfer pricing regulations, but the Tax Act introduces a new US tax to discourage base erosion.   The base erosion anti-abuse tax (BEAT) generally applies to deductible payments to foreign affiliates (such as those made under transfer pricing agreements) and is in addition to the US corporate income tax.  Fortunately, the BEAT has a significant threshold that takes into account substantial annual gross receipts of a taxpayer which means that many lower to middle market companies should not be affected (i.e., gross receipts greater than $500 million).  Large companies that would be affected by BEAT may rely on exemptions.  A US subsidiary subject to BEAT can generally exempt payments made to foreign affiliates for services provided at cost.  Note, however, the foreign affiliate’s country of residence may not allow for pricing at cost under its own transfer pricing laws.  Transfer pricing agreements will be necessary to document such services (and perhaps to separate cost versus mark-up) with further analysis warranted.  Existing transfer pricing agreements should be reviewed and modified as appropriate to account for the changes made by the Tax Act.  

    As new reporting requirements for BEAT and penalties are introduced, an accounting firm familiar with the nuances of the Tax Act and BEAT should be consulted prior to the filing of corporate tax returns for 2018 and beyond. 

    Seemingly unaffected by the Tax Act should be the prevalent use of C-corporations by foreign owners in the US.  Unlike US owners of US businesses who prefer pass-through entities, such as US limited liability companies (“LLCs”), foreign owners often prefer to use C-corporations since it generally avoids the US branch profit tax (which does not affect US owners), allows the parent company to take maximum advantage of any income tax treaty benefits, and because many foreign nations do not recognize the pass-through tax treatment of LLCs.  The reduction of the corporate tax rate to 21 percent, coupled with the elimination of the corporate AMT, should further strengthen the C-corporation as the entity of choice for most foreign owners.

    In sum, while the Tax Act promises benefits to most foreign companies in the US, each foreign company should conduct a nuanced and customized analysis of the Tax Act.  The particular impact will vary depending on numerous factors, including size and industry.   Analysis by an experienced cross-border tax professional, in collaboration with a cross-border corporate attorney, is recommended.  Taking such action will ensure that US operations are compliant and conducted in the most optimal and cost-efficient manner.    

    About this author.

    Steve Suneson practices law at Coan, Payton, and Payne LLC, and specializes in the  business law and commercial transactions.

     

  • 03 Apr 2018 by Trevor Jones

    As a small business owner, I am the first to admit, that I don’t always think about geopolitics right when I get up in the morning or macroeconomics before I close my eyes at night. I’m thinking about my business’ bottom-line, the opportunities and risks moving forward, and how to augment or mitigate them.

    Increasingly, however, it is incumbent upon all business owners, of all business sizes, to track and make strategic plans around the global politics. We live in a globalized economy and businesses can sell to any corner of the globe on the internet. New political dynamics like protectionism and the tactics that follow, like tariffs and other non-tariff barriers, only serve as needless distractions.Pulling out of international trade agreements, only to watch the agreements go ahead without the United States’ influence and input, is damaging.Targeting immigrant populations, the same people that have invented and labored for America, is counterproductive.

    So why should we care about these macro-level factors that do not affect the bottom line on a daily basis? For too long, business strategy and management have existed outside the realm of politics. Here are just a couple reasons to incorporate a global risk or political risk component into your business strategy model.

    Political risk analysis shows where the opportunities are, too. When a country resolves a conflict, they begin a process of redevelopment that usually invites foreign businesspersons to learn about new opportunities. These opportunities, which fall in the “fat middle” between countires where business is not an option (North Korea) and places where business is too established to make new inroads (Germany). But for every North Korea, there are 10 or more countries like Colombia, Vietnam, Nigeria… places where investment is not only crucial for the economy but has outsized benefits for the human beings that live there!

    Perhaps the biggest reason to care about the global political context is understanding why American business has thrived over the years in the first place. In addition to a fiercely innovative and competitive culture, the US and its partner have done so well because the political security rendered by American military has in turn, perpetuated the dollar as the currency on which the world runs. It is not our aircraft carriers, but the free trade and passage of goods and services on the open oceans ensured by these ships that has made us prosperous.

    That's easy to forget. In a world thankfully devoid of large-scale, interstate conflict since WWII, we tend to forget that economies are only open for business when there is a security guarantee that customers, employees and property will not be in danger or damaged. Oftentimes we rely solely on strong economic ties to rule out war (see: China). This is not always a failsafe. It is worth remembering Great Britain and Germany had strong trading ties before WWII, before engaging in some of the bloodiest conflict known to history.

    By engaging in global commerce, being aware of risks and opportunities on micro and macro levels, we become de facto diplomats. Global commerce is perhaps the best form of international people-to-people communication we have. So before you go to bed tonight, please do consider your global opportunities: the politicians will thank you.

    About this Author 

    Trevor Jones is the Co-Founder of Lynx Global Intelligence 

     

     

  • 06 Mar 2018 by Nick Carpenter

    Global Chamber hosted a visiting delegation from 20 countries from all over the world accompanied by 3 liaisons from the U.S. Department of State. Executive Director Jeffrey Campos, Board Chair Scott Nelson, members Trevor Jones and Paul Kullman addressed the delegation. They discussed Colorado's economy, Denver's transformation to a global business center, and how Global Chamber creates global economic exchanges.

    The real focus of the conversation was building partnerships. And the meeting was a major success. Global Chamber was able to generate real business opportunity with 20 global business hubs from around the world. When it comes down to it Global Chamber is able to connect businesses to opportunity, and foster cross boarder trade and investment.

     

    The visiting delegation

    From left to right, Trevor Jones, Paul Kullman, and Scott Nelson

     Executive Director of Global Chamber Denver Jeffery Campos

    Global Chamber Denver Chairman of the Board of Director, Scott Nelson

    President of Business Beyond Borders, Paul Kullman

    Founder of Lynx Global Intelligence, Trevor Jones 

     

    Video Clips of the Presentation

    https://youtu.be/czTFKCyHpJ0

    https://youtu.be/SACCUBU4WTo

  • 21 Feb 2018 by Nick Carpenter

    Global Chamber was joined by Scott Smith of Keystone Capital for a presentation on alternative financing methods. Mr. Smith discussed factoring, a financing strategy in which a business monetizes receivables to get needed funds. It works by companies selling receivable invoices to a factoring company at a discount. Mr. Smith explained the pros and cons of factoring, what businesses might benefit from factoring, and what industries Keystone Capital serves.  Factoring is a great tool for companies with slow paying invoices or who wish to grow their businesses without traditional financing methods.  For more information on Keystone Capital or factoring, please visit www.keystoneCaptialFunding.com.

    About the Speaker

    Scott Smith - Owner of Keystone Capital Funding, Scott formed this Denver based factoring company in 2009 and has provided over $100 million in working capital to business across the country since then. He is an active member of the Global Chamber, International Factoring Association, and Commercial Finance Association. Scott holds a Bachelor of Business Administration in Finance from Auburn University.

     

    This event was hosted at the Global Chamber Office in Denver and virtually.  For information on more webinar events and presentations like this one visit the Global Chamber Events Website.

  • 28 Nov 2017 by Global Chamber

    Until recently, methods to identify global risks with data have been misunderstood and underutilized. Using data visualization and artificial  intelligence to provide predictive analytics is now possible because of advances in both technology and new understandings of threat and risk. The resulting product helps NGO’s, businesses and governments create conditions for people to live secure, healthy, and fulfilled lives.

    Global risks have become increasingly complex for organizations due to rapid changes in society and technology. These challenges are further complicated by worldwide issues like climate change, mass migration, food and water security. Threats to business and government are now stacked in complex ways. Easy visualizations are needed to help decision-makers cut through the noise.  

    Global Chamber® Denver member, Lynx Global Intelligence,  states that businesses can learn by artificial intelligence by combining readily accessible, structured and unstructured data inputs like:

    - Internal Organization Data

    - Open Source Political Risk, Economic Other External Data

    - Social Media Sentiment and Web Scraping

    All these forms the Risk Dashboard Visualization / A.I. Deep Learning

    Read HERE full information about how A.I. can help you mitigate global risks and how the Lynx Dashboard Visualization works.

  • 19 Sep 2017 by Global Chamber Denver

     

    Doing Business in China: Culture, Etiquette, and Protocol

             Beginning in the early 1980s The People’s Republic of China reformed and opened its doors to the global market marking the beginning of its economic expansion. As a result, China has created a new position for itself as one of the world’s leading economic powerhouses.  According to the U.S. Trade representative, in 2016 China became our largest trading partner with two-way trade totaling 578.6 billion dollars. In addition to trade, investment from both firms in China investing in the U.S. and vice versa totaled just over 100 billion.

                The take away from China’s economic expansion is that there is a massive amount of money flowing between the U.S. and China, and this lends itself to any number of opportunities for firms that do business internationally. However, those who wish to pursue business opportunities in China should take into account the cultural differences between the United States and China and how those differences impacts doing business. Whether you find yourself going to China to meet new potential partners or brining Chinese clients to visit the States, recognizing and appreciating the differences in the way the Chinese do business will go along way to foster a healthy and beneficial business relationship.

    Relationships and Reputation

    Two concepts that are important to understand for doing business in China are relationships (Guānxi 关系) and outward appearances (Miànzi 面子), sometimes also translated as ‘face.’  The first of these, relationships is similar to networking in the United States, though can take a more social tone.  For example, many Chinese might take their business partners on social outings before discussing any business prospects. Business topics should not be discussed on these outings. Culturally it is important for many people from China to build friendly relationships with the people they do business with as they are often kept long term and used as a way of exchanging favors or gaining connections for future professional arrangements. So when doing business in China be prepared to enjoy dinner or drinks with your new partners before getting down to business.

    An equally important concept is what is known as Miànzi 面子, this translates in English into face or appearances, but the concept is more complex than that. It refers to a person’s reputation or prestige. Gaining face is to give your best outward appetence and giving face might involve helping someone else maintain his or her best outward appearance. For example, complimenting or praising someone’s performance gives them face.  Losing or taking away someone’s face is to be avoided. Some examples might include being confrontational in public or disagreeing with someone. Face does not just mean individuals, it can also include groups, companies, and countries.

    Etiquette

    Seniority, title, and rank

    Seniority, titles, and rank are vastly more important in China than they are in the U.S. Seniority is expected to be recognized and respected. For example senior group members should be seated first or introduced first. Titles are to be used when referring to people. Use Director Li rather than Mr. Li if he is introduced as such. It is generally a good idea to use proper names and titles until a stronger relationship is established or you are invited to use given names by your new partners. It is also important to note that family name comes first and their given name comes second. In the name Zhai Jing, Zhai is the family name and Jing is the given name, so Ms. Zhai would be the proper way to refer to her.

    Business Card Exchange

    Exchanging business cards is a more formal affair in China than in the United States. Always give and receive a business card with two hands. When you receive a business card you should read it. It is considered disrespectful to take a business card and put it in ones’ pocket or bag right away. Rather hold on to it with both hands until the exchange is complete. If the exchange takes place in while seated, neatly place any cards you receive on the table in front of you and collect them after the meeting is over. 

    Giving And Receiving Gifts

    It is common to give gifts to new business partner in China. These are usually small and inexpensive objects. Giving an overly expensive gift may cause someone to lose face.  Gifts should be wrapped in simple paper. When giving a gift it would not be unusual for a person to refuse at first and then accept when offered the second time. When receiving a gift it is proper to not unwrap the gift until after the meeting. When giving gifts be sure to have something for the entire group if the meeting is with a group of people. When giving gifts, give them in the order of seniority with the most senior person receiving the gift first. Group gifts are also acceptable. These are gifts given from your company to the other company. Be sure your company’s most senior person from your group gives the gift to the most senior person of the Chinese delegation.  Some gifts to avoid are watches/clock or knives and letter openers as these objects have bad connotations in Chinese culture.

     

    More detailed information on Chinese culture and educate can be found on the link below

     

     

    https://www.internations.org/china-expats/guide/17519-culture-shopping-recreation/understanding-the-chinese-culture-17526

     

    http://tradecommissioner.gc.ca/world-monde/107932.aspx?lang=eng

     

    Nick Carpenter

    Global Chamber Denver

  • 17 Sep 2017 by Global Chamber

    Global Chamber® Denver hosted Mexico's 55th President in Denver and there are many pictures! Some initial ones are included below.

    Doing business cross-border and globally was the theme of our forum with President Vicente Fox. He shared his insights and expertise on global business and doing business in Mexico. Some of our members met with President Fox and his team to discuss specific opportunities.

    Special thanks to our members and sponsors! 

    Thank you to Colorado Governor John Hickenlooper, Denver Mayor Michael B. HancockAurora Mayor Steve Hogan, Consul General  of Canada Stephane Lessard and MSU President Janine Davidson for your participation and leadership.

     

     

     

     

     

     

     

     

     

     

     

    More pictures at the Global Chamber facebook page HERE...

    And at the Global Chamber Denver facebook page HERE, and to follow.

     

  • 15 Sep 2017 by Global Chamber

    Thank you global tribe of Denver - members, sponsors and collaborators with Global Chamber® Denver - for making the visit by President Fox memorable, valuable and amazing

    One of many follow-ups... we welcome all Global Chamber® Denver member to attend President Fox's CITEK 2017 Oct 3-4 at no cost... contact Jeffrey Campos HERE.

    And watch for more follow-ups... thank you President Fox and all our members, sponsors and collaborators!

     

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  • 23 May 2017 by Jeffrey Campos

    Global Chamber hosted the Advance Team for Mexico President Vicente Fox's planned visit to Denver, CO USA . Juan Garcia Senior Advisor to Mexico President Fox spoke to Global Chamber members on topics related to the planned visit to Denver. It consisted of three full days of meetings at Governor Hickenlooper's Office, Mayor Michael Hancock's Office's , Mexican Consulate's Office, Metro State University Denver, Global Chamber Denver, and more. 

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Opening of the El Salvador Consulate Office in Aurora, CO 

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Juan Garcia at KBNO Radio Interview

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Juan Garcia with David Dickerson from Metro State University Denver

     

  • 03 Jun 2017 by Jeffrey Campos

    Global Trade & Investment Forum will feature 55th President of Mexico Vicente Fox  on August 29 - August 31 2017

    The forum discusses unlocking new opportunities through strengthened US & Mexico relations, trade ties, investment and business linkages heard from President Vicente Fox. Read more.

    Vicente Fox was born in Mexico City on July 2, 1942, the second of nine children, fruit of the marriage between José Luis Fox, a farmer by trade, and Doña Mercedes Quesada.

    Whilst he was still a child, he and his family moved to the San Cristóbal ranch in the state of Guanajuato municipality of San Francisco del Rincón, where he would have the opportunity to live and play alongside the children of the local communal farmers, to share his childhood with them and, in his own words, see for himself “one of the avoidable ills of our country: poverty.”

    Vicente Fox is someone who is amiable, respectful, unpretentious, and honest; a man whose life on the ranch has taught him to value people’s loyalty and to appreciate the huge potential Mexico has to be triumphant.

    As he himself has commented on many an occasion throughout his life, “I know the value of opportunity. I grew up on a communal farm alongside the children of farmworkers and the only difference between me and my friends from childhood are the opportunities that I have been lucky enough to have.”

    A graduate of Iberoamericana University, where he gained a bachelor’s degree in Business Administration at their campus in Mexico City, Vicente Fox recalls how at that time his provincial “cowboy” image was in sharp contrast to that of his classmates.

    He subsequently took a diploma course in Senior Management taught by professors of Harvard Business School.

    In 1964, he joined the firm Coca-Cola de México as a Route Supervisor. From aboard his delivery truck, he had the opportunity to get to know virtually every nook and cranny of the country. His performance in his work allowed him to rise up through the ranks, until he eventually became regional CEO of the company for Mexico and Latin America, the youngest person to hold such a position in the firm.

    With the experience he acquired, he decided to return to Guanajuato to become actively involved in the state’s business, political, social, and educational spheres, and to help contribute to its overall improvement.

    As a businessman and as a politician, Vicente Fox Quesada has always strived in his pursuit of the common good and equal opportunities.

    As a loving father, he has shared the joy of his work and home life with his four adopted children, Ana Cristina, Vicente, Paulina, and Rodrigo.

    He is a founder and former president of the Casa Cuna Amigo Daniel children’s home trust, an institution at which many children receive the care and attention they need. He is also a former president of the Loyola trust, whose purpose is to promote the Iberoamericana University’s León campus and the Instituto Lux, a school at which so many in Guanajuato have received their education.

    He has served as an advisor to the Mexican-American Chamber of Commerce and as Director of Grupo Fox, a group of companies engaged in the various branches of agriculture, livestock farming, agribusiness, footwear production and the manufacture of cowboy boots for export, and one which helps generate a wide range of job opportunities.

    In the 1980s, he joined the National Action Party (PAN), inspired to do so by Manuel J. Clouthier, a man he describes as his political godfather.

    In 1988, he was elected Federal Representative for the Third District of the city of León, Guanajuato. Whilst a member of Congress, his efforts were particularly focused on matters relating to agriculture and the livestock industry. During this period, he wrote widely for a diverse range of national and regional newspapers.

    In 1991, he ran for governor in the state of Guanajuato. In 1995, he ran again, this time in a special election for governor, which he won by a significant majority.

    During his administration, the transparency he advocated meant he was fully accountable, both in terms of state finances and of his own personal wealth. He succeeded in turning the state of Guanajuato into the fifth most important economy in Mexico. Having achieved such excellent results during his administration, he was chosen as the official nominee of the Alliance for Change (an alliance between his own PAN party and Mexico’s green party, the PVEM) in the country’s presidential elections in the year 2000.

    In his autobiography “Vicente Fox a Los Pinos” (Mexico, Océano, 2000), he describes his political philosophy and his immense passion for Mexico.

    On July 2, Vicente Fox was victorious in the presidential election and that same day declared his commitment to “...form a government that is plural, honest, and capable; a government that includes the very best of the country’s citizens.” His election marked the end of a period of over 70 years during which every single president of Mexico had been a militant of the country’s Institutional Revolutionary Party (the PRI). As such, he was the first president in the country’s transition to democracy to come from the ranks of the opposition.

    In his inaugural address to the nation on December 1 of that year, the President of all Mexicans, Vicente Fox Quesada, undertook to “continue to build a giving country.”

    On July 2, 2001, exactly one year after his election victory, a major event took place at the President’s official residence of Los Pinos: the civil wedding ceremony of Mr. Vicente Fox Quesada, President of the United Mexican States, to Ms. Marta Sahagún Jiménez. It was a day that not only marked the first anniversary of Mexico’s democratic change and the first day of his marriage, but also his 59th birthday.

    Today, there is a new Mexico. Day after day, Vicente Fox worked tirelessly in his efforts to fulfill the promise he made in his inaugural address: “I am, and shall remain, thoroughly committed to continuing the efforts of this great nation; to working passionately for those who have bequeathed us our homeland, for those who have built the Mexico we have today, and for those who have ever dreamed of a different, a successful, and a triumphant Mexico.”

    His most positive legacy in terms of macroeconomic results was the reduction of inflation to a minimum, a virtually fully balanced budget, the strengthening of the peso, the effective management of the country’s foreign debt, and a historically low country-risk ranking, with foreign reserves at an all-time high of approximately 73 billion dollars.

    Never in our country’s history had such energetic efforts been made in the war on poverty, in the promotion of equality and to ensure equal opportunities, through a comprehensive policy aimed at doing just that. The officially-named “Opportunities” strategy enabled social development programs to reach families in the country’s most far-flung communities and regions on a scale never seen before.

    Thanks to the recognition it received from the World Bank, the Inter-American Development Bank, and the United Nations Economic Commission for Latin America and the Caribbean, the example set by the “Opportunities” program has been copied in over 30 countries.

    Following his presidential term (2000–2006), and for the first time in Mexico’s history, the now former president chose to remain in the public eye after leaving office and to speak openly and without censorship of his experience as head of state. In his book Revolution of Hope” (US, Viking Adult, 2007), Vicente Fox describes the road that led him to the office of the President, the history of his family, the root and foundation of the values that motivate his actions, and the gamut of experiences that led to his transformation from businessman to head of state.

    Today he lives on the ranch his grandfather purchased a century ago. The two-hundred-year old Ex-Hacienda of San Cristóbal is now home to a study center, library, and museum, all of which bear his name. Centro Fox, as it is better known, is a forum for thought and ideas, and is also home to Fundación Vamos México (the Let’s Go Mexico Foundation), an organization led by his wife, Marta Sahagún, which works to help end poverty.

    Today both continue fighting for Mexico and to make a difference, however small, so as to improve and one day overcome the shameful conditions people in various parts of our country and in Latin America endure every day.

    Today Vicente Fox continues to ride his horse like Don Quixote in search of new goals. For it is his abiding belief that whoever ceases to grow will begin to die; that whoever ceases to be active will be swept away by the tide and by their opponents; and that whoever wavers will lose sight of the path to success.

    In his travels along the path he continues to walk, Vicente Fox has been officially recognized for his work on many occasions, including the following honorary degrees he has been awarded in the Americas and Europe:

    • Honorary doctorate from Ben-Gurion University of the Negev, Israel, March 2002
    • Honorary Doctor of Laws from Emory University, May 11, 2009
    • Degree of Doctor of Humane Letters from Loyola Marymount University, Los Angeles, California, May 2009
    • Honorary Degree of Doctor of Laws from the International School of Law of IMADEC University, Vienna, Austria, 2011
    • Honorary Doctor of Laws from the Faculty of Laws of University of the Pacific, Stockton, California, May 2011
    • Doctor Honoris Causa from the Universidad Tecnológica de Santiago (UTESA), Santiago de Caballeros, the Dominican Republic, February 2011

    He is a member of Club de Madrid, an independent non-profit organization made up of 81 ex-heads of state and former leaders of democratic governments.

    If there is a road that Vicente Fox has chosen to follow in his life, it is, without a doubt, one that leads to the consolidation of democracy and leadership in Mexico and Latin America.

    Join us 8/29-31.

  • 02 Feb 2017 by Jeffrey Campos

    Global Chamber Denver Business Series Luncheon is proud to host Consul General of Russia Sergey Petrov on February 23 at 11:30a.m. at the Metro State University campus in the Tivoli Center Senate Room. To attend visit our event page.

    SPEAKER PROFILE
    As the Consul General of Russia in San Francisco, Sergey Petrov promotes trade‚ economic‚ cultural and scientific relations between Russia and the United States. Mr. Petrov was born in Moscow in 1962; he is married and has an adult son.

    EXPERIENCE
    Over 30 years ago, Mr. Petrov joined the diplomatic service at the Ministry of Foreign Affairs of the USSR. Petrov’s first assignment was at the Embassy of the USSR in Afghanistan. Upon completion of his tour of duty, he worked at various posts at the Ministry of Foreign Affairs. In 1995, he was appointed to the Embassy of the Russian Federation in the U.S.., specializing in congressional affairs and inter parliamentary exchanges. Starting in 1999, Mr.Petrov  worked in Moscow at the office of the Deputy Minister of Foreign Affairs, Georgiy Mamedov; during 2002-2003, he was the head of his office. In 2003, Sergey was appointed to the Embassy of the

    Russian Federation in Canada, where he soon reached the position of Minister-Counselor and continued working there for 8 years. In 2011, he served as Deputy Director of North American Department at the Ministry of Foreign Affairs of the
    Russian Federation. In 2013, Mr. Petrov assumed the duties of Consul General of the Russian Federation in San Francisco.

    EDUCATION
    He graduated from the Moscow State Institute of International Relations in 1986. Mr. Petrov speaks English, as well as Farsi and French.

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