UK Export Finance (UKEF), the Government’s Export Credit Agency, works very closely with the Department For International Trade with a main aim to boost exports for the UK. Anne Lockett is one of 24 regionally based export finance managers who try to ensure that no viable export contract fails due to lack of finance or insurance. Anne covers Staffordshire, Shropshire and Black Country and explains below how UKEF may be able to offer support to your business.
The best part of my job is engaging with many local businesses in Staffordshire (either by phone or a visit), understanding your financial challenges and helping you to find a solution. The best part for your business is that the advisory element is completely impartial and free of charge. Ultimately, my primary aim is to ensure that you do not turn an export contract away due to lack of finance or because you fear you might not get paid – I want to help you grow your exports and help you become a more successful international business.
The challenges that businesses face in raising finance to support export activities are many and varied. It might be that you have won a new, larger than normal contract, or that you have received an influx of orders and you will need more finance to fulfil them all. You may have negotiated an advance payment for which your buyer requires an advance payment guarantee or performance guarantee. When exporting, the trade cycle is often elongated whilst you wait for the goods to be shipped across the world before payment is received and this can put a strain on the working capital of your business. Part of my role is to help you raise the finance, either by working with your bank or by helping you find another funder. This can significantly shorten your search to find a solution.
You may be dealing with a new customer in a new overseas market that you are not familiar with and you require some certainty about getting paid. Again, I can suggest ways to mitigate the risk of not getting paid which could include directing you to a credit insurance broker or helping you apply for an export insurance policy offered by the Government.
If you would like to know more or arrange a consultation, please contact me at firstname.lastname@example.org I am happy to talk to any size of business in any sector.