Nervous about exporting?
Whether you’re considering exporting for the first time, or selling to new customers or into new markets, there is naturally a concern about getting paid and how to assess the creditworthiness of these customers. A credit insurance policy will give you access to the insurer’s extensive database of worldwide companies, and if a credit limit is granted you can support fledgling customer relationships and build trust as well as sales.
Our client, a long established carpet manufacturer keen to develop export markets for their product, recently engaged an export sales manager. The Finance Director had a degree of concern agreeing credit limits on companies from around the globe with no previous experience of a business relationship. A credit insurance policy covering the exports of the business was put in place, and has provided invaluable expert information to support the FD, along with the Sales Manager’s recommendations, in deciding the appropriate level of credit to be allowed.
“Our aim was to expand our sales internationally and we acquired an experienced Sales Manager to do so. I was reluctant to agree large limits on customers I did not know but the credit insurance limits granted made my job easier.” – Finance Director