Email Article Print Article

Global Economics-Is The World Your Oyster?

By John Dietz - Email Editor

Date : 09-Oct-2007

Dear Subscriber:

With a very serious war going on, it is easy for the other battles to get pushed aside for the greater cause. Without a doubt, there is a feud between big business and the entrepreneurs. Anyone willing to take a bet on the outcome of this battle?

In 2006 US manufacturing, mining, transportation, farming, forestry, and fishing represented 23.7 percent of the US Gross Domestic Product. GDP for the same period was a little over US $13 trillion. The US service industry has been on an uptrend, trumping every other sector since 1958. Economists tell us that the service industry is a more stable environment than manufacturing. While they site various reasons, such as less environmental problems to commodity cost, the underlying fundamentals sited are routed in entrepreneurship.

From 1900 to 1930 US industry and manufacturing dominated. Today, as over three quarters of the US economy is service based, are we headed for the European version of corporate conglomerates? (Although, US citizens, with their massive zest for entrepreneurship and a deep desire to leave the corporate culture behind, will most likely take their own path.) Companies like Google, who represent the new corporation of today’s America, are a much better hybrid than its multinational counterpart.

The US Congress, busy with war, busy with trade sanctions, and busy building barriers, should take heed in the fact that the US sits on the map of planet earth. It is now daily that I get calls from folks wanting to diversify out of the US dollar. People are now going offshore for a host of other reasons, most of which is the business of trade and the underlying theme is entrepreneurship. The growing number of people and companies that see opportunity all over planet earth is amazing.

Maybe our view of sales and growth is contingent to our view of the world. To a diplomat, the earth is a division of political factions called countries. To entrepreneurs, the earth is a map of uncharted and untapped business waiting to be developed; each undeveloped piece of land is simply a new sales territory.

On a recent flight into LAX, on a rare day with no smog, viewing the LA basin, one forgets how completely developed the area is. From the mountains to the ocean, it is hard to find a vacant piece of land. The new growth in Southern California will most likely come from perceptive entrepreneurs looking for ways to grow their wealth in other parts of the world.

Everyday we get calls from entrepreneurs everywhere wanting to do business all over the world. They get an investment idea, and they want to put it to work. It is interesting that, without exception, clients want to set up their worldly business affairs properly and pay the appropriate tax. While the tax rules can be foreign (no pun intended), they are fairly clear-cut and for the most part spelled out by the IRS.

If you have an investment idea or want an entrepreneurial adventure, it is in of your best interest to do the proper homework and seek the proper professionals to help you before you proceed. An Asset Protection Plan should be in place to give you the entrepreneurial advantage that creates cooperating entities for your US companies and your offshore or foreign companies and trusts. The cooperation of your companies and your personal finances may even save you money on taxes while increasing your financial protection and growing your business. Planning now will keep you on the road to sales promotion instead of hitting the roadblock of sales prevention.

Until next time,

John

RELATED ARTICLES:

• Protect the equity in your home
• Asset Protection Plans
• C.A.L.M. Introduction
• Get educated on Asset Protection

ABOUT THIS EDITOR:

John Dietz is a strategic advisor at Trustmakers.com with a passion for client solutions that can encompass your business, your real estate, and your personal assets. Mr. Dietz serves to educate you on the latest in asset protection planning.

Full Bio - Email John