Successful exporting, the Credit Insurance wayBy Richard Welbourne
As the saying goes, when one door closes, another door opens and with Brexit just around the corner, countries will be knocking on Britain’s door to negotiate new trade deals. If the government are listening, hopefully a no-deal Brexit will be off the table, meaning we can continue trading with our closest neighbours in the EU. With Export being a growing market, we are working with a number of clients to maximise this market
Over the last few years, our food clients have realised that when they truly utilise their credit insurance policy it can help them to grow their export business. At Avenue, our level of service exceeds what you might expect from a traditional broker. By truly listening and taking the time to understand the needs of our clients, we’re able to offer valuable advice you can trust.
Knowing where the right to find the right advice can be greatly appreciated. A handful of our recent clients had never exported, so we introduced them to a number of potential routes to explore. A few of these being through Department for International Trade and Santander. What they were able to offer is expert advice on how to successfully export. This includes advice on
- The different international laws and regulations
- The varying cultures depending on the country and;
- Support with international trade shows
One bit of advice we always ask our clients to do is to ask us (the broker) to see if any insurers would insure their prospective new customer. The information that the insurers can offer on customers may help in determining as to whether you trade with them on credit terms.
What is especially useful, and I am sure will be more frequently required post Brexit, is the international collections offered by a number of the insurers. This is particularly valued by our clients where they don’t have any physical offices in the countries that they trade in.
At Avenue, we know that one of the ultimate benefits for taking out a credit insurance policy is the certainty of payment when things go wrong for your customers and you need to make a claim. We know that the speed of getting the claim paid can be tantamount as to whether or not our clients stay solvent. Most claims are paid within 28 days of a company going into administration with the quickest being paid within 24 hours.
If you are looking to explore new markets, make sure you speak to Avenue, we have your best interests at heart.