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."

Another complaint 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,
rather than investing in future ones.

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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Here & There...

• A study conducted by three economists at the Federal Reserve Bank of New York, said that nearly $5 trillion worth of American home mortgages were refinanced over the last three years. The conclusion is that consumers have used their withdrawals of (home equity) funds to restructure their balance sheets and reduce their debt service burdens. Bottomline: millions of households are in a stronger financial position than before their refinancing efforts.
  
• International Monetary Systems (OTCBB:INLM) has been favorably reviewed in the February 2004 issue of the KonLin Letter, which has been covering low-priced stocks for more than 20 years. The comments can be seen at www.konlin.com and www.miradorconsulting.com.

• Have you signed up to receive a summary via e-mail of the Tuesday Report every week? If not, go to the top of this issue (right hand corner) and sign up!

• National advertising accounts for about 20% to 25% of the radio industry's ad inventory. The annual media spending on radio is $3.2 billion.

• In a recent Wall Street Journal article on frequent flier miles, the variable cost of providing a (free) seat was reported in the following manner, "the liability that airlines book for unredeemed miles is small—the cost of food, booking tickets and a bit of extra fuel for the added weight." (Delta airlines recorded a liability to cover the costs of their frequent fliers at about $23 for each award.)

• What nation is second to the U.S. in paved highways? China, its highway network is now 30,000 kilometers.

• Marriott recently signed a deal with Expedia and Hotels.com to gain access to more hotel rooms. The deal allows Marriott greater say over the way those rooms are priced. So although consumers will now find more rooms on the two sites, there will be fewer deep discounts.

• According to Dilip Ratha, a senior economist with the World Bank, migrant workers last year sent an estimated $90 billion back to their home countries. That figure amounts to more than twice that of all official aid to developing nations.

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