Susan Ross (Aon and Vice-President of The British Export Association), Mark Hernaman (RBS and NatWest) and Paul Wills (Trade Finance and Insurance Solutions Group) joined our webinar to talk about risk solutions and assistance in the Food and Drink Market.
You can watch the video of the webinar below, and check out our Recent Webinars page to access all the Open to Export webinars giving practical guidance and answers to all your exporting concerns.
Susan ran through the risks that can occur when exporting food and drink as well as providing us with some solutions to avoid these risks.
Risks and Solutions
- Damage/Loss of product transit – this could happen when exporting goods, especially when it comes to freight movement. Make sure that when transporting goods you choose a reliable courier and check that the packing is secure.
- Shipping delays – delays are a huge problem especially in the food and drink market, as your goods are more likely to perish if they are close to the expiry date. Again, ensure you’ve hired a reliable courier to make sure they arrive on time and in good condition.
- Goods stopped at port – the only way to make sure this doesn’t happen is to do your research beforehand and check that you have all the required paperwork and documents.
Mark mentioned that when exporting abroad there are important factors to consider that could increase the risk. For instance the longer the distance to the destination the more chance there is that the good could be damaged or lost. In addition to this you will need to know the local taxes and tariffs related to your goods.
UK Export Finance can provide you with various resources and help along the way should you require it. This help could include assistance with providing trade credit insurance to exporters to help with trade finance, for example.