Funding available

Question

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.

Answer

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

Answer

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.

Answer

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

Menu
Export Action Plan