Realising global opportunities

Every day, in countries around the world, there are business opportunities for BVAA member companies.

Published: 13th May 2016 | Issue 37 Share article:

The government is working with commercial partners to bring these opportunities to you, and to clearly signpost the support available to help you realise them. Visit www.exportingisgreat.gov.uk to find a business opportunity.

Finance and insurance: one key area of support

Export finance and insurance can increase your capacity for growth. It can mean higher levels of finance compared to conventional lending. You can give your overseas buyers time to pay, while protecting your cash flow.

There are many ways to arrange this. The right one for you will depend on individual circumstances.

But if you expect any difficulties in obtaining the support you need, then consider contacting UK Export Finance, the UK’s export credit agency and a government department.

Its mission is to ensure no viable export fails for want of finance or insurance from the private sector. It helps firms of all sizes access the finance and insurance needed to realise their export ambitions through:

• Free and independent guidance on sources of export finance
• Release of working capital with bank guarantees for contract bond or credit facilities
• Security of payment with export credit insurance
• Competitive finance for overseas buyers with buyer credit guarantees or direct loans

Recent examples of support

1 UK company Sensonics needed their bank to put up two performance bonds in order to win a major contract in the UAE to supply vibration monitoring equipment. Their bank asked them to set aside cash against the risk of these bonds being called. This would have left Sensonics without the working capital to perform the contract. UK Export Finance stepped in with a risk-sharing guarantee that allowed the bank to free up the working capital.

2 When family-run business Flexal Springs found it hard to get credit insurance for an export of precision springs to India, UK Export Finance provided the cover it needed with an Export Insurance Policy. This provided them with greater confidence to grow their overseas business.

To find out more visit the UK Export Finance website.

Tel: +44 (0)20 7271 8001
Web: www.gov.uk/uk-export-finance

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