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Making the most of a world of opportunity

British SMEs have a strong history of serving customers domestically, but increasingly opportunities lie in other markets. With similar language, cultural and business practices, strong economic growth and close proximity to Asia Pacific economies, Australia provides significant trade opportunities for businesses in the UK. Many SMEs, however, feel unable to maximise their international trade potential, often listing a lack of funding, inexperience in dealing with foreign currency and cultural nuances as the top constraints holding them back. But there is a wealth of support available, both in relation to funding and currency exchange, and overcoming cultural barriers to trade.

How we can help

We take a relationship based approach to supporting businesses, which means that we work hand-in-hand with our clients to find the right support package for them. Though our solutions are highly bespoke and tailored to the individual needs of our clients, we offer three solutions for those trading in overseas markets.

Export finance

We can provide funding of up to £10m to support businesses exporting and our Export Finance facility was designed to provide a flexible finance solution - but also to provide support in relation to developing business in foreign markets, cultural expertise, linguistic and currency services.

We provide funding against unpaid customer invoices, unlocking working capital and helping our clients to bridge the gap between invoicing and payment, which can frequently extend to over 120 days in overseas markets (often while goods are in transit). Additionally, we can manage the full invoice collections process using multilingual credit controllers and overseas multi-currency accounts, enabling businesses to focus on fulfilling existing orders and generating new sales. On top of this, we can provide Bad Debt Protection, helping our clients to offset the risk of non-customer payment in the markets in which they trade.

Trade finance

For those importing goods from Australia, our trade financing offering provides a means of paying international suppliers upfront, enabling our clients to negotiate early payment discounts and benefit from better customer and supplier relationships. Additionally, we can cover the cost of shipping, VAT and import duty, removing the hassle of importing and helping our clients to access to goods they need, when they need them.

Foreign exchange

Foreign exchange plays a huge role in the efficiency, accessibility and appeal of exporting and importing, however, trading anywhere overseas can leave a business
exposed to currency fluctuations. When agreeing prices of goods, businesses need to consider potential future currency fluctuations which could result in the sale price decreasing by the time it comes to invoicing for the goods. Having access to experts who can talk about exchange rates and turn around payment quickly can be essential. Bibby Foreign Exchange looks to remove complexities preventing many SMEs from engaging in international trade, by combining business funding with foreign exchange in your currency of choice.

 

Intergrated support for international trade

Combining funding with foreign exchange services is something other non-bank funders are simply unable to do and the ability for businesses to drawdown – in a currency of their choice – from existing funding arrangements, is a huge benefit. Having Export and Trade Finance and Foreign Exchange capability enables our teams to support businesses whatever their needs and ambitions. Our dedicated business development people, committed relationship management teams and knowledgeable operations function mean we’re in a great position to support SMEs trading internationally.

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