— An international trade expert says business leaders should be “thinking global from the very beginning” in order to unlock faster growth and higher profits.
Roxanne Baumann, global business strategist and owner of Baumann Global in Pewaukee, spoke yesterday during the Wisconsin Tech Summit in Milwaukee, an annual event hosted by the Wisconsin Technology Council.
She noted 85% of the world’s purchasing power and 80% of global economic growth is located outside of the United States, emphasizing the opportunity presented by foreign markets. In export conversations with leaders of small and medium-sized manufacturers, Baumann often references the fact that 95% of all consumers live outside the U.S., she said.
“I’m like, look at that number,” She said. “I mean, seriously … You guys are young, budding entrepreneurs here. Are you going to bet your business on the 5% of available consumers that are here in the United States? There’s a huge opportunity outside of our borders.”
Baumann argued companies that export internationally typically grow two to four times faster than domestic-only businesses, are 8.5% more productive and 17% more profitable with higher margins and reduced dependence on the U.S. market.
“We have great products that are made here in the Midwest, and often when we go to international markets we can almost double the price that we’re charging for them, because the market will bear it,” she said.
She compared this approach to building a diversified stock portfolio, noting businesses with customer bases in numerous countries will be affected less by shifts in a given market. Plus, going international can extend product lifecycles and limit seasonal slowdowns, Baumann added, pointing to her former employer Harley-Davidson as an example.
While the domestic market was “fantastic” for the Milwaukee manufacturer’s motorcycles in the summertime, the company would look to drive sales in Australia and elsewhere in the southern hemisphere during the wintertime, she explained.
Baumann also urged companies eyeing the export path to be proactive in protecting their intellectual property in foreign markets, to avoid costly IP acquisitions down the line. In the 1990s, Harley-Davidson hadn’t secured trademarks in the Middle East, so other entities in the region had registered the company’s name and that of its owners’ group, she said.
“In order to get our presence back in the Middle East, we made some awfully costly fees to buy back our own trademarks,” she said.
Listen to an earlier podcast with Baumann.
— Also during the Wisconsin Tech Summit, a representative for the Taiwanese government touted the trade relationship between Wisconsin and the Asian nation.
Dennis Yen-Feng Lei, Taiwanese consul general, yesterday noted Taiwan supports more than 3,800 jobs in the state. That includes about 1,400 jobs supported by investment from Taiwan-affiliated companies, another 1,400 supported by exports of goods to Taiwan, and about 1,000 from exports of services there.
Wisconsin exported $661.1 million in goods to Taiwan in 2024, making it the state’s 10th largest export market and the third largest market for Wisconsin in Asia, he said.
Taiwan plays a key role in the global semiconductor chip market, which underpins critical industries including technology, transportation, health care and defense.
“Taiwan is number one at making the chips, so that we are the perfect partner to help develop the supply chain,” he said, adding semiconductors are the “top area” for cooperation with the United States.
— The MKE Tech Hub Coalition is rolling out a new initiative called Synapse, which aims to help small and mid-sized manufacturers use AI.
Kathy Henrich, CEO of the Milwaukee-based technology group, notes larger manufacturers are “rapidly adopting emerging technologies” while mid-market producers need more support to keep up.
“Synapse delivers a shared network of resources to help these vital businesses confidently evaluate and implement AI solutions that drive real business value, while simultaneously creating a vibrant marketplace for local tech talent and solution providers,” Henrich said in a statement.
A program overview from the coalition notes manufacturing makes up 20% of the state’s economy, and nearly half of the industry’s jobs are in small to medium-sized businesses.
Along with offering strategic advisory services, executive education, demonstrations and more, the initiative will tap experienced Milwaukee manufacturing executives for a “peer learning network.” It will evaluate success by focusing on real impacts from adoption of new technologies at the business level, as well as its role in driving economic growth in the region.
Sanjay Mohan, executive director of AI strategy for the coalition, says the effort isn’t simply “promoting technology for technology’s sake” and will help participants determine where AI can be best used to address top business challenges.
“This approach dramatically reduces implementation risk while accelerating time to value for manufacturers and creating sustainable demand for the region’s growing tech sector,” he said.
The MKE Tech Hub Coalition last year hosted a series of AI Manufacturing Workshops, which along with independent research helped the group identify dozens of applications for AI in the industry. Through the new initiative, the group aims to create a structured marketplace for tech firms working in this area and support manufacturers looking to “take the first steps” in deploying AI.
The coalition aims to expand Synapse over time to other key industries for the region, building on its base of expertise in manufacturing, according to Henrich.
“As we deliver measurable business outcomes in manufacturing, we’ll apply the same collaborative approach to other sectors vital to our regional economy, creating a broader base of technology adoption that further strengthens Milwaukee’s position as a growing tech hub,” she said.
Meanwhile, the coalition is also announcing several tech companies as verified partners in the Synapse program. These include: Concurrency, based in Brookfield; Milwaukee-based Midpoint Consulting; Ensylon, a Chicago company; and 100 Joules, which is expanding from North Carolina set up shop in Milwaukee.
Listen to an earlier WisBusiness.com podcast with Henrich.
— Upland Hills Health plans to begin construction on a new senior living center in Dodgeville later this year after the hospital’s board recently purchased dozens of acres of land for the project.
In a release yesterday, the hospital announced it has acquired about 43 acres with an option to purchase another 65 acres for the center, which will include two assisted living facilities. The parcel is located near the hospital and connects to land already owned by Upland Hills Health, according to the announcement.
Once complete, the project will include a 63-bed assisted living center, and the hospital says it will “more than double” the number of memory care beds available to residents through a remodeling project. Construction is expected to take between 18 and 24 months.
Jim Massey, chairman of the UHH Board of Trustees, says the land purchase “is the result of years of thoughtful planning” and dedication to the project.
“Our board has carefully studied how best to meet the needs of our aging population — conducting market research, evaluating options, and consulting experts,” he said in a statement. “We believe this initiative aligns perfectly with our mission to provide compassionate, high-quality care to the community.”
See more project details in the release.
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