Join Andrea Collins of The Export Department as she explains how exporters can minimise the risk of not getting paid when trading with overseas markets. In this session Andrea will be talking about the various ways exporters can be paid by their customers, exploring in detail the various options i.e. open account, bank collection, letter of credit, and advance payment; she will also be highlighting the benefits, risks and likely customer attitudes to each.
Risk around ‘getting paid’ and delays impacting cashflow is one of the no.1 concerns we hear cited by micros and SMEs all the time; over the past few years, exchange rate fluctuations linked to Brexit uncertainty have also inflicted pain on smaller businesses.
This session also focuses on mitigating risk, helping you understand the various options and support open to you including Government backed schemes such as UK Export Finance, and other credit insurance providers; as well as credit scoring, effective credit control, factoring solutions, currency hedging, and letters of credit.
This is the ninth in a series of 11 webinars aimed at helping companies prepare for international trading post EU transition period. Future webinars include:
- Developing overseas markets and managing international partners
- Effective international supply chain management
This series of webinars is a partnership between Buckinghamshire Business First, Cambridgeshire & Peterborough Combined Authority, New Anglia Growth Hub, OXLEP Growth Hub and SEMLEP's Growth Hub.
Details
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