November 18, 2022

Population 8 Billion

Population 8 Billion

The global population just reached 8 billion people, with India fast overtaking China. Hold onto your hats, because that means we’ll be seeing a shift in geopolitical power dynamics in the not-so-distant future. With more people entering the middle class and people living longer around the globe, leaders will have to find ways to serve the growing number of consumers without putting undue strain on the planet. It’s not surprising the U.S. and China just resumed climate talks after a long freeze, and hopefully they will be productive this time around.

The good news, with the world getting smaller, is that there will be a lot of new business opportunities emerging, some we might not have otherwise dreamed of. Marcum has always had a lot of bench strength when it comes to international trade, and that has served us well, given the burgeoning number of entrepreneurs around the globe. Monday was the kickoff of Global Entrepreneurship Week, and 200 countries, with 25,000 local partner organizations, have come together to encourage more of their citizens to pursue entrepreneurship. That’s a positive sign in times like these, when the need for innovation has never been greater, and there are many rewards for people with great ideas.

With markets slowing in the U.S., now is a good time for every firm to take a close look at its international presence and look for opportunities to acquire new customers and diversify. Thanks to technologies like Zoom, going global isn’t as hard as it once was. Even the smallest companies can operate like multinationals, picking up clients on every continent without anyone packing a suitcase.

On Wednesday I got back from Marcum’s annual Partner Retreat, where we gathered for three days to plan our strategy for the coming year. Our long time venue for this event has been The Breakers in Palm Beach, Florida, an amazing property with a storied history. This year’s service and experience at The Breakers was perhaps the best ever. But as they say, all good things must come to an end. When we first moved our annual event to The Breakers in 2009 we had less than 100 people in attendance. Since then we’ve grown to over 525 at a venue that has 529 rooms. With our projected growth, the handwriting is on the wall and we will have to move on. Paul Leone, The Breakers CEO, and the entire Breakers team have been exceptional and gracious hosts these many years. Paul, let us know when you build that new tower.

Next week is Thanksgiving, and that means something special at Marcum – our annual Day of Service, which will be back, live and in-person, this year. Our entire team of 3,500 associates and partners across the country will be fanning out to volunteer at more than 85 charities on Wednesday, Thanksgiving eve, our traditional philanthropy day. All of our U.S. offices—including Marcum LLP, Marcum Technology and Marcum Search—will be closed, so we can continue Marcum’s tradition of giving back and helping those less fortunate than ourselves.

We wish you all a very happy and delicious Thanksgiving holiday. If you are hitting the road or getting on a plane to visit loved ones, safe travels!

This column will return on Friday, December 2.