You don’t need a plane ticket.

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	Forwarded this email? Subscribe here for more Do You Want to Go Global? You don’t need a plane ticket. Ododoola Oyewo Jul 13   READ IN APP   Dear business owners, Let's be honest, the dream of probably every entrepreneur is to be an international business mogul.  Thanks for reading MSME Africa Pulse! Subscribe for free to receive new posts and support my work. Pledge your support We all know the marketplace is hot, competition's fierce, and sometimes you just need a fresh perspective to take things to the next level. How can you make your business global without breaking the bank?  Think of it this way: You have the confidence and the great product, now it's time to let everyone know what they're missing out on! Here's how to do it without spending too much money - less than what you'd spend on a fun weekend in Lagos! Maximize the power of the Web: Your website is your online storefront, so make it shine! Clean design and clear English are a must. Find businesses abroad that complement yours and opt for a collab! This could be anything from a guest blog post to a co-branded product. You get access to their audience, they get access to yours – win-win! Do you make Ankara clothes or other locally-made products? You can sell them to people all around the world! Use websites like Etsy, Jumia International, or Facebook Marketplace to show everyone. You can sell to people in other countries and make money! Remember, going global doesn't have to be expensive. With a little creativity and these tips, you can be that next big African brand taking the world by storm. Now go and conquer (without emptying your bank account)! P.S. Do you have any questions or success stories on taking your hustle global? Share them in the comments below, let's get this conversation rolling Here's what I have for you today! Trending Business News  Feature Articles  Opportunities Galore Entrepreneurial Origins Tip of the Week  Trending News Abia State Government Allocates N1 Billion for Interest-Free Loans to Support Small Businesses The Abia State government has earmarked N1 billion for an interest-free revolving loan to support 9,200 beneficiaries across the 184 wards under its cooperative scheme. This initiative, announced by the Commissioner for Information and Culture, Okey Kanu, during a media briefing, aligns with one of Governor Alex Otti’s 2023 campaign promises. READ MORE  Ministry of Youth Development Collaborates with Tony Elumelu Foundation for Youth Empowerment The Ministry of Youth Development has announced its intention to partner with the Tony Elumelu Foundation (TEF) to enhance skill acquisition and promote entrepreneurship among young Nigerians. READ MORE  ALX Africa Enriches over 1,200 Lives Through CSR Initiatives Across Nigeria In a concerted effort to impact their host communities, ALX, Africa’s leading tech accelerator, embarked on a Corporate Social Responsibility (CSR) initiative to enrich the lives of people in low-income communities across nine states in Nigeria. READ MORE  Nigerian Government Unveils Measures to Reduce Food Prices, Grants 150-day Duty-free Import for Food Nigeria’s Minister of Agriculture and Food Security, Abubakar Kyari, announced several measures aimed at reducing high food prices in the country. These measures include a 150-day duty-free import window for certain food commodities, as part of efforts by the Economic Management Team (EMT) under the Presidential Economic Coordination Council (PECC) formed by President Bola Tinubu in March 2024. READ MORE  Ekiti State Government and Access Bank Launch N1 Billion Loan Scheme for Women in Business The Ekiti State government, in partnership with Access Bank plc, has launched a one billion naira loan scheme aimed at supporting women traders and entrepreneurs in the state. The initiative, named the EKSG/Access Bank Women Initiative Loan, seeks to empower women in micro, small, and medium enterprises (MSMEs) by providing them with financial resources to expand their businesses. READ MORE  Feature Articles  Digital Detox: 7 Things you can do to enhance mental well-being as a Small Business Owner In today’s digital age, our minds are constantly bombarded with notifications, social media updates, and endless streams of information. While technology has its benefits, excessive screen time can lead to mental fatigue, anxiety, and decreased productivity. HERE are 7 things you can do to enhance your mental well-being as a Small Business Owner. Building the perfect team with AI: Growth Strategies for Business Owners AI is here to stay. It’s not just here as a generative tool for our text, images, and PowerPoint presentations, we can use AI for so much more. For a business to thrive, the right team needs to be in place. HERE are 5 steps you can apply in getting the right team for your business  Opportunity Galore Call For Applications: Girls in Tech Startup Challenge 2024 for Female Entrepreneurs Are you a female founder with a groundbreaking idea ready to disrupt the market? The 10th Annual Girls in Tech Startup Challenge is your golden opportunity to transform your vision into reality. APPLY HERE  Call For Applications: Milestone Makers Program for Entrepreneurs – Fall 2024 Are you a passionate entrepreneur aiming to make a real difference? Do you have a scalable business idea focused on solving global challenges? If so, the Nasdaq Entrepreneurial Center's Milestone Makers Program wants to hear from you! Ready to take your venture to the next level? Apply HERE  Call For Applications: Access Bank Youthrive Program For MSMEs Are you a young go-getter with a brilliant business idea? Looking to take your MSME (Micro, Small, and Medium Enterprise) to the next level? Access Bank's YouThrive Program is here to supercharge your success! Ready to unlock your potential and join a thriving community of young entrepreneurs? Apply Today! Call For Applications: Open Startup Pre-seed Accelerator Program (Up to $50,000) Looking to launch your game-changing idea and gain funding? Apply for the Open Startup Pre-seed Accelerator Program for a chance to win up to $50,000! This program is designed to equip early-stage startups with the tools and resources they need to thrive. Don't miss this opportunity to turn your vision into reality. Apply NOW Call for Applications: Pivot Challenge 2024 For early-stage startups in Africa Are you a bold, early-stage startup tackling Africa's critical challenges? This year's Pivot Challenge seeks innovative solutions in sectors like security, education, healthcare, and more! Showcase your impact and gain valuable support to propel your venture forward. Apply NOW and be part of Africa's brightest entrepreneurial minds! Call For Applications: Google Hustle Academy Bootcamp for small businesses in Kenya, Nigeria, and South Africa Calling all Kenyan, Nigerian, and South African small businesses! Ready to supercharge your success and future-proof your business? Google's Hustle Academy Bootcamp is back for a free, 5-day virtual program designed to help you thrive. Don't miss this chance to take your business to the next level. Apply NOW  Entrepreneurial Origins Last week's trivia Who is the founder of the African entrepreneurship platform, Afrobytes? A) Amadou Daffe B) Eric Osiakwan C) Rebecca Enonchong D) Iyinoluwa Aboyeji Answer- None of the above  Today's Trivia What is the name of the popular African e-commerce platform founded by Nigerian entrepreneur Sim Shagaya? A) Konga B) Jumia C) Paystack D) Andela MSME Africa Tip of the Week  Delegate and Empower You don't have to do it all yourself! Delegate tasks to capable team members and provide them with the resources and support they need to succeed. Empowering your team fosters a sense of ownership, boosts morale, and frees you up to focus on high-level strategy. Till next time Ododoola, MSME Africa  Thanks for reading MSME Africa Pulse! Subscribe for free to receive new posts and support my work. Pledge your support MSME Africa Pulse is free today. But if you enjoyed this post, you can tell MSME Africa Pulse that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. Pledge your support   Like Comment Restack   © 2024 MSME Africa 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe

Morning Brief: Tesla's valuation is turning heads

Five key stories and our Chart of the Week.  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­  

Saturday, Jul 13

👋 Good morning! Here are five key stories and our Chart of the Week.

Morning Brief is written and edited by Ethan Wolff-Mann. For the web version, click here. Follow all the action throughout the day on Yahoo Finance and on the Yahoo Finance app.

Tesla's valuation is turning heads If the fact that Tesla bulls have a religious-like commitment to the stock isn't clear from social media, it sure is from its financials. ‌ Tesla's forward price-to-earnings ratio, which divides next year's estimated earnings per share by the current share price, is 97.1x, according to Yahoo Finance data. ‌ Our Chart of the Week compares this figure to its peers, and it's striking.

Though Nvidia has gotten most of the valuation attention during this year's bull run, Tesla's valuation has investors paying almost double: Nvidia's forward P/E stands around 48.5x. And though Nvidia's stock is up 800% since 2023 and nearly 200% so far this year, its earnings have exploded too. ‌ The rest of Tesla and Nvidia's Magnificent peers are all trading at valuations above the S&P 500's average of around 22x. Then again, these companies have been the source of most of the market's earnings growth in recent quarters. ‌ But there's always more to the story in markets.  ‌ In a note this week, DataTrek's Nicholas Colas wrote about how these numbers, while useful, can be broken down further by looking at how much of a stock's valuation comes from present earnings and how much comes from what is essentially an analytics version of hopes and dreams. ‌ Colas calculates that around 45% of the valuation of the S&P 500 as a whole comes from current earnings, with the rest coming from the historically backed optimism that earnings will continue to grow. ‌ And if Tesla is simply more expensive than its Mag Seven peers, it's in a different stratosphere compared to its automaker peers, with GM and Ford trading at 5.1x and 6.5x next year's earnings, respectively. The legacy automakers' discount to the market is due to concerns about how well they'd fare in a downturn. ‌ "And then we get to Tesla, where 91% of its valuation is based on future earnings growth," Colas wrote. "That tells us this is a faith-based stock rather than one whose valuation is grounded in near-term fundamentals." ‌ With expectations for future earnings so high, it's obvious that investors are banking on its robotaxi thesis as a paradigm shift for the company — and likely not the only shift to come. ‌ But we'd also be wise to use care when it comes to valuations. ‌ Caveats that accompany pronouncements about what's over- and undervalued often don't really matter. In the aggregate, valuation norms are more likely to hold over time: The S&P 500's average forward P/E is around 19x. In the specific, the range of outcomes is much wider. ‌ All-time highs often follow all-time highs, and history is littered with both the losses and missed gains of investors who placed too much weight on whether a company was "overvalued" by the book — and got steamrolled by inertia and sentiment. ‌ Especially by a Tesla.

5 key stories for the weekend 💰 Investment banking fees are back: The first batch of the big bank earnings Friday showed that investment banking fees are growing again after a two-year slump, a boon for JPMorgan Chase, Citigroup, and Wells Fargo. The banks' good news, however, was offset by higher-than-expected deposit costs in the traditional portion of the banking business. ‌ 🏷️ Prices jump — for businesses: Though Thursday's Consumer Price Index reading showed that consumer inflation is currently nonexistent, Friday's Producer Price Index showed that wholesale prices increased more than expected, a sign that the conversation may not be completely over. ‌ 🏦 Powell's lose-lose: Whatever Fed Chair Jerome Powell does in September, he is going to get slammed by politicians for being "political." After Powell's trip to Capitol Hill this week to answer lawmakers' questions, the impossibility of pleasing everyone shows why the Fed's independent mandate is so important. ‌ 🥤 Pepsi doesn't blame Ozempic: PepsiCo, one of the first of the season's crop of corporate earnings, says that GLP-1 weight-loss drugs are not a key factor affecting the Lay's and Doritos maker. Instead, the softness in demand is coming from consumers thinking just a little more about value. Leaving us wondering what happens when GLP-1 drugs do gain influence.  ‌ 🚗 Tesla's EV market share declines: Tesla's US EV market share dipped below 50% in Q2, a first for the company. A report from Cox Automotive saw overall EV adoption grow slightly, but Tesla's grip on the market continues to decline, down from over 80% in 2019 to 49.7% as BMW, Kia, and Ford win over drivers.

3 conversations we're still thinking about 📉 Charles Schwab chief investment strategist Liz Ann Sonders on how a market correction is an opportunity. ‌ 👋 Piper Sandler co-chief investment strategist Michael Kantrowitz on why they're dropping their S&P 500 target. ‌ 🎯 Wall Street strategist Ed Yardeni on why he raised his firm's S&P 500 year-end call to 5,800.

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