Funding available

Question posted by Sally Guyer, on behalf of The Cambridge Raincoat Company Ltd in CB22

I'd like to know what funding we are available for with regards to the following:-
1) in terms of promoting our products overseas e.g. trade tours/fairs etc
2) in terms of credit if we receive a large order but don't have the cash immediately available to pay for the materials we need to fulfil the order
3) legal advice re: funding e.g. we are looking at licensing our brand name in order to produce a version of our product locally in Chile in order to make it affordable to the local market in Chile and Latin America.

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Trevor Charnley, on behalf of Moneycorp in SW3.

Hi Sally,

1) I can't help you on the first point, your local UKTI trade team would be a good point of contact.

2) Speak to a trade finance provider. There are numerous things you can do, it really depends on your business model, turnaround times etc as to what fits. I can send you a contact if you like.

3) Get in touch with the IPLA and find your local IP lawyer. http://www.ipla.org.uk/index.php

Best,

Trevor Charnley
Moneycorp
Trusted Foreign Exchange since 1979

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Roger Frampton, on behalf of ExportAction in Clearwater, Florida, USA.

Hi Sally

You ask three questions.

1 I would get in touch with your local International Trade Adviser (ITA) at UK Trade and Investment (UKTI). I think everywhere in the UK you can get an address and telephone number... except for the East of England. I don't know why, but start at http://www.ukti.gov.uk/export/unitedkingdom/eastofengland.html.

2 I would love to think that your bank would help. Lending to small business has become a lot easier here in the USA just recently. If they won't, or can't, help, take a look at factoring your invoices, or ask the buyer to pay a deposit sufficient to get through your cash-flow shortfall. Another good question for your ITA at UKTI - ask about export credit guarantees.

3 Sorry this is back to UKTI again. If you ever have the same questions with the USA, I could help. I've had great experience with doing business in Chile - there is a genuine special relationship going back a long time, but in my past we found the best way to handle business across Central and South America was from the USA.

Hope this helps. Best of luck.

Roger

PS If you can find the time, I'd be really interested to know how you get along.

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Jennie Rich, on behalf of UK Trade & Investment in SW1H.

Dear Sally,

Thank you for your question.

UK Trade and Investment have a service called the Tradeshow Access Programme, (TAP) which provides funding for SME's to take part in overseas tradeshows and exhibitions. Please see the attached link for more details.

http://www.ukti.gov.uk/export/howwehelp/tradefairsexhibitions.html

Some of the other Service Providers on Open to Export will be able to give you answers for your other questions. I will leave it to them to respond.

Kind Regards,

Jennie Rich

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David Earp, on behalf of UKTI East of England in AL7.

Hello Sally

I am an International Trade Adviser based in Cambridge, working for UK Trade & Investment.

You asked "I'd like to know what funding we are available for with regards to the following":-

1) UKTI do support UK based companies attending certain Trade Fairs. A list of the supported trade fairs appears on the UKTI website, http://www.ukti.gov.uk/pt_pt/export/howwehelp/tradefairsexhibitions.html look for the link to our events calendar for 2012 - 2013 here. If a show does not appear, we can still help .

2) The government is putting in place help for SMEs to finance exports. However, this short term finance you are asking for is more relevant for banks or other providers of what is termed "working capital" or for growing businesses it is also know as "Growth Capital". A colleauge of mine specialises in finance for exporters- Jill Targett-Adams.

3) You can get some free advice on managing your Intellectual Property from the government's own Intellectual Property Office. Look up their website www.ipo.gov.uk and give them an 0800 call. For more detailed advice on licensing, you will need to speak to a specialist in licensing. Fortunately there are many skilled practitioners in Cambridge, and I am sure we can help you get introduced to some of them. In the meantime, we can also provide some general help.

UKTI provide general advice free of charge, although some more specialised international services are chargeable, but as these come subsidised for the SME sector, they are not prohibitively expensive.

You might also like to look at this page on our website, which explains a little about our help for new exporters in a service called Passport to Export: http://www.ukti.gov.uk/pt_pt/export/howwehelp/passporttoexport.html

Please feel free to contact me for further information.

Kind regards

David Earp

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Kevin Coleman, on behalf of Alliantus Limited in CB25.

Hi Sally,
It seems to me that most of your questions have been answered so I will just add.

1. TAP is a good scheme if you need to go to a trade show. Your local UKTI people should be able to advise.
2. There is a limit to the 'free advice' from UKTI – worth exploring and this can be very good. As David says, they will try and sell you other services for international work and this can also be good value as a starting point. However, there are other options.
3. You can get help from the Intellectual Property Office and the website is full of information. Here again if you have the time and the experience you can do this yourself. However, there are IP lawyers about and I know some have schemes to assist smaller clients with growth potential (free early questions, reduced fees, etc).

Kind regards
Kevin

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Gill Targett-Adams, on behalf of UK Export Finance in AL7.

Dear Sally
My name is Gill Targett-Adams and I’m the Export Finance Adviser for UK Export Finance and UKTI in the East of England. Your bank may participate in the Export Working Capital Scheme and, if so, they may be willing to support you with pre-shipment finance using this scheme. If you are looking for an answer to this part of your question still, please feel free to contact me on 07720 496383 or g.targett-adams@uktieast.org.uk and I can discuss your options with you in more detail. There is no charge to you for my time.
Best wishes, Gill

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Alistair Lamond, on behalf of MarketInvoice Ltd in WC1V.

Hi Sally,

Regarding your second query about finance. MarketInvoice has been supporting businesses like yours to access short-term working capital against their invoices and purchase orders for overseas clients.

I would be happy to discuss with you how our offering works and determine if we could support you when you receive these big orders.

You can reach me at a.lamond@marketinvoice.com or call 0207 078 7621

All the best

Alistair

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Hi Sally,

In terms of funding there are a number of different options available to you. Trade and Export Finance would be able to advise of the most appropriate option and possibly source it for you too.

We also have an in house lawyer to assist with legal matters.

Please get in touch if you would like further information.

All the best,

Mark

mark@taefl.co.uk

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