UK Export Finance is the Government department you have probably never come across.
If you are thinking about export it is a source of help you should investigate.
Today we look at Norton Motor Cycles (I used to ride an 850 Mk1 Commando)
But it didn’t look like this – the S300 Norton.
UK Export Finance can help in two important areas:-
Working Capital for Export. – Overseas Distributors will want credit terms, so taking the example of Norton Motorcycles, Norton has to incur all the materials and labour costs to manufacture then shipping and storage costs prior to the overseas distributor making the sale. There will then be a delay in receiving the funds. UK Export Finance, working with Santander, help to provide that working capital.
Credit insurance – This protects against the risk of not being paid by the overseas buyer.
They can also help with
Currency Fluctuations – Given that it might be months between order and being paid for the sale, there is a very real currency exposure risk. The Export Finance managers can point exporters towards private sector providers so in practice they can help you find a solution.
To visit their website and see more on the Norton Case Study CLICK HERE