FINANCE & GRANTS FOR

Are you worried about extended payment terms with international retailers and distributors? Invoice discounting can help you to manage your cash flow.

One of the biggest challenges our members face when trading internationally is getting paid upfront by overseas buyers. For example, working with the larger U.S. retailers can be an incredible opportunity given the scope of potential orders, however in many cases their payment terms can extend up to net 120 days. In order to avoid this and not miss out on the opportunity, one option to consider is Invoice Discounting. This allows exporters to receive their payments upfront through a third party while establishing good and solid working relationships with their foreign customers by accepting and working within their payment terms. Invoice discounting will allow you to get access to working capital, before you are paid, when selling your products and services to customers abroad. There is generally no limit to the funding available as it’s based on the purchase orders you receive. Accessing Financing is simple and only requires a few steps. The first step is to invoice your customer as normal. Get in touch with your invoice discount provider and generally within 24 hours you will be able to access your funds, namely an agreed % of your invoices. The payment will be collected from your customers on your behalf and you will be paid the remainder, minus any fees as agreed with you in advance. Grants (Technical Assistance for Micro Exporters) by Local Enterprise Office (LEO). TAME Grants are suitable for first time micro exporters. They will part-fund the costs that can be incurred in investigating and researching export markets, e.g. exhibiting at Trade Fairs, preparing marketing material and developing websites specifically targeting overseas markets. Grants cover 50% of eligible costs (net of vat) to a max of €2,500.

Who can apply for this grant? • Enterprises not employing more than 10 people • Enterprises located within the geographic location of the Local

Enterprise Office • Enterprises operating in the commercial sphere • Enterprises must demonstrate a market for their proposed product/ service • Enterprises engaged in manufacturing or internationally traded services • Innovative businesses with prototype products • Enterprises who have not received any funding from another source