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Barclays
Businesses set criteria for the sector and types of tenders or opportunities of interest, and receive regular alerts highlighting high-potential contracts that match their capabilities.
Commerce at a click With UK retail exports expected to reach £60 billion by 2018 , the UKTI’s e-Exporting Programme focuses on making sure UK businesses take full advantage of the online marketplace. Barclays is keen to help ensure businesses maximise the opportunities provided through the digital market place and seeks to promote the e-Exporting programme to businesses which may benefit from it. Recognising that selling online also has its risks and practical difficulties, UKTI has identified over 400 e-marketplaces. The challenge for businesses is to filter the gamut of opportunities worth pursuing and UKTI is well-placed to help businesses form a robust digital commerce strategy.
Preparing for change
all stages of the trading process and can provide access to wider government support. Both UKTI and Barclays can also provide access to advice from UK Export Finance. UKEF is the UK’s Export Credit Agency, providing a range of financial products to support exporters.
The British Chambers of Commerce[1] survey shows that a lack of commercial knowledge is leaving many businesses with untapped opportunities. It highlights that 68% of companies with the potential to become successful exporters believe they are held back by not having the right product or service for international markets. Having better data and analysis can shine the spotlight on opportunities which are not immediately obvious. We work closely with UKTI and UKEF to give you access to the expertise you need. By doing your research and having a comprehensive plan in place, you will be in a much better position to identify and act on any overseas opportunities.
Alert to opportunities
Managing risk
Another UKTI offering aimed at helping British companies succeed overseas is the Business Opportunities Programme. This offers a free alerts service for companies looking for relevant sales leads.
Having made a commitment to overseas trade, management teams need to identify and mitigate risk at every stage of the export cycle. Involving your bank early in the process means you can assess your capabilities and finances, and identify where you may need support in delivering your trade strategy. From a banking perspective, the two biggest concerns are usually about mitigating risk and financing increased working capital requirements. During the supply or purchasing stage, a business needs to reduce the risks associated with supplier performance and related costs. As a business agrees terms for the overseas sale of their end product, their attention turns towards ensuring they get paid. Payment in advance is ideal as you get paid (either partially or wholly) before goods are dispatched. However, this is not easy to negotiate as it means the buyer takes on all the risk. An often-used option to protect exporters against the risk of non-payment is a letter of credit (LoC), which is a conditional guarantee that you’ll get paid as long as you meet the terms of the LoC. This LoC provides the exporter with a conditional guarantee
RUSSELL GRAZIER Russell Grazier has been in banking for 30 years. His career has encompassed roles in Retail, Operations and Corporate Banking as well as Risk Management. Since the late 1990’s Russ has been focused on leading regional and national trade businesses within the banking industry. As Barclays Head of Trade and Working Capital for the London Region, Russ is passionate about supporting British businesses to be successful whether that’s here in the UK or when operating overseas. His commitments are to help simplify international trade, mitigate risk and provide appropriate working capital solutions for businesses.
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Issue 02
| Global Opportunity 2015
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