International trade presents both new opportunities and challenges, requiring businesses to ensure they are thoroughly prepared Trading internationally brings a new dimension to business finances. Crossing borders can increase risks, so putting the right process in place to ensure prompt payment is critical and dealing with fluctuations in foreign currency exchange rate can make the difference between profit and loss. Export Finance explained When an exporter receives an order to supply goods or services to an overseas buyer, they can ask to be paid upfront. This is a safe way of exporting because the exporter knows they will get their money before the goods or services are delivered. This approach might also mean the exporter may enter into fewer export contracts, as the payment terms may not be competitive. As buyers require time to pay, many exports of goods and services are sold on extended credit terms, as much as 180 days. This can have a significant impact on the exporter’s cash flow and introduce an additional working capital requirement. It also exposes the exporter to the risk of non-payment by the buyer. Exporters can go to their bank for support, or a number of other specialist financial organisations that provide support including trade finance and payment protection including UK Export Finance. Such specialist organisations include trade finance houses, factoring and discounting companies and credit insurance providers. Also consider: Payment Methods & Foreign Currency Exchange Their mission: to ensure that no viable UK export fails for lack of finance or insurance, while operating at no net cost to the taxpayer ‘We’re here to help UK exporters. If there is an export opportunity but the private sector won’t offer the insurance or guarantees needed, then we try to find a solution.’ David Godfrey, Chief Executive, UKEF They are the UK’s export credit agency. They help UK exporters by providing insurance to exporters and guarantees to banks to share the risks of providing export finance. In addition, they can make loans to overseas buyers of goods and services from the UK. UKEF is the operating name of the Export Credits Guarantee Department (ECGD). Export Working Capital Scheme – click here for more information A crucial part of any transaction is ensuring you get paid. There are different payment methods which you should consider. These are: Detailed information can be found by clicking here Getting paid on time and securely is the most important financial consideration when embarking on international trade; using a letter of credit helps to avoid these pitfalls. What is a Letter of Credit? How can we help? Hampshire Chamber of Commerce via the British Chambers of Commerce has partnered with foreign exchange and payment solutions experts, moneycorp, to offer members exclusive terms and access to competitive foreign exchange rates. Using their scale and existing network, moneycorp, can help members make significant savings, while providing a service which will save time and give them peace of mind by knowing their FX needs are in the hands of experts. Key Benefits Free foreign exchange health check No transfer fees Free account opening To talk to us about our service please call contact Patrick Solley on tel. +44 (0)203 823 0344
International Market Access
International Sales & Marketing
Export Finance
A Letter of Credit is a written guarantee by a bank assuring payment for goods. It will have strict terms specifying both the amount of money to be paid and within what time frame. If all the conditions are met, payment is guaranteed.
Hampshire Chamber of Commerce, in partnership with Business West, is pleased to offer a Letter of Credit service. Additionally, several of our Chamber members provide the same service. For further information, please contact our global trade team at 01329 242420.
Exclusive Member Package
Free assessment of your business’s foreign exchange requirements, to help you pin-point where you could improve your margins
Transfers are free off the back of an FX deal
Buy and sell any of 35 currencies on line, with access to over a 100 currencies via telephone dealingChamber Foreign Exchange will assess your
Get in touch
e-mail patrick.solley@moneycorp.com visit www.moneycorp.com/chamberfx
Export Readiness
Of course we all know that too few British firms are making the most of export market opportunities. Chambers of Commerce, through its network of contacts, can help a company to evaluate their company’s products and services for export, help them to select markets that could be successful and help to make sure that they have the infrastructure in place to support their exporting ambition.
We don’t want businesses to fall at the first hurdle, so our experts guide companies on how to become export ready.
Hampshire Chamber of Commerce works closely with the BCC Network of International Chambers and also the Department for Business and Trade. The Department for Business and Trade are able to assess your export readiness and can recommend appropriate courses/workshops.
Contact details:
BCC International Chamber Network – for further details click here
Department for Business and Trade
Contact details: southernengland@trade.gov.uk
UK Export Academy – click here for further details
Chambers of Commerce frequently organise international trade-focused seminars/webinars, open to both members and non-members. These events offer exporters valuable insights, expert advice, and the opportunity to ask questions, connect with fellow exporters, and engage with businesses exploring international trade. We encourage attendees to learn from the experiences of others.
Our program includes half-day webinars and workshops led by international trade specialists, covering key topics.
To find out more please click here
Exporters encounter various risks that can adversely affect their business, including non-payment of invoices, political instability, and intellectual property theft. To mitigate and prevent these risks, Chambers of Commerce, through its extensive network of contacts, can offer businesses valuable market intelligence and in-depth insights.
This information enables businesses to effectively assess potential risks and opportunities, empowering them to make informed decisions and pursue the most strategic export opportunities.
With the rapid growth of emerging markets worldwide, the opportunities for your business are vast. The key to a successful export strategy lies in strategically focusing your resources on the markets that are most likely to yield the highest return on your marketing investment. Market research is a critical component to ensure that your efforts are directed toward the most promising targets.
Hampshire Chamber of Commerce collaborates closely with the British Chambers of Commerce (BCC) International Chamber Network and the Department for Business and Trade. These networks can provide tailored market intelligence, including in-depth research on specific regions within your target market, industry sectors, competitive landscape, market entry strategies, and distribution channels.
For more information:
BCC International Chamber Network: www.britishchambers.org.uk
Department for Business and Trade: southernengland@trade.gov.uk
Hampshire Chamber of Commerce provides a comprehensive range of international trade workshops, designed to enhance your understanding and expertise in global trade. Our workshops cover the following key areas:
- Understanding Export Procedures
- Import Procedures
- Documentary Letters of Credit
- Preferential Rules of Origin
- Methods of Payment
- Customs Procedures and Documentation
- Agents and Distributors
- Incoterms Rules
- Inward/Outward Processing
- Export Documentation
These workshops offer valuable insights to help businesses navigate the complexities of international trade effectively.
Prices and dates are available here
We like to know what you think
We constantly strive to improve the products & services we offer and how they are delivered to you. Please let us know what we are doing well and any areas where you think we could be doing better.
Email your comments to info@hampshirechamber.co.uk
Getting Goods to Market
Whether you are shipping physical goods or providing services, a successful export business relies on delivering in a timely and efficient manner, while making provision for insurance & risk management and local regulations.
Hampshire Chamber of Commerce operates a full time documentation service in both Basingstoke and Fareham. The services available are:
- ATA Carnets
- United Kingdom Certificates of Origin
- Arab-British Certificates of Origin
- Egyptian-British Certificates of Origin
- HMRC Preference Document – UK EUR1
Documentation can be provided electronically via two electronic platforms. Contact the global trade team for further information on tel: 01329 242420
Any business exporting physical products will need to carefully plan the logistics of moving them from market to market. At a basic level, Chambers of Commerce, through its network of contacts, can provide an overview of the key considerations in warehousing, freight-forwarding and distribution, along with practical advice for working with providers.
Hampshire Chamber of Commerce is able to provide introductions to logistics providers, including shipping, air freight, overland, general logistics management, warehousing and distribution within its membership. Please contact the global trade team on tel 01329 242420.
Hampshire Chamber of Commerce, through its network of contacts, can offer introductions to differing types of insurance, including trade credit insurance, marine transit insurance, and provision of discounted insurance services to exporters.
Not every law firm or accountancy business has experience of international trade.
Hampshire Chamber of Commerce has within its membership, professional services firms who are experienced in this specialist area of international trade, including IP protection; international licensing; distribution agreements; transfer pricing and a range of other services.
Contact the global trade team on tel: 01329 242420 to find out more.
International Market Access
Effective distribution is a crucial factor when entering any new international market. For those exploring international trade for the first time or seeking to expand into new markets, Chambers of Commerce, leveraging their extensive network of contacts, can provide valuable support and guidance.
Export Agents
An export agent acts on your behalf by introducing you to overseas customers. They charge a commission – usually between 2.5% and 15% – and they’re widely used in the EU.
An export agent can also help:
- give you information and contacts for overseas markets
- identify and make the most of opportunities overseas
- cut the cost of setting up your own offices overseas and recruiting and training your own employees to work there
- keep more control over your product, eg the final price and brand image (when compared with using a distributor)
You will still be responsible for things such as shipping, Customs paperwork and tax. Your agent may be able to help or you can use a freight forwarder for this.
Overseas Distributors
Overseas distributors buy your goods from you and then sell them on in an overseas market.
An overseas distributor can:
- take care of shipping and Customs
- buy your goods in bulk
- warehouse your goods
- market your product for you
- introduce your product to new markets
Distributors may expect heavy discounts and a long period of exclusivity, so you need to research and choose one with proven experience in your target market.
You lose control over the marketing of your goods and after-sales service when using a distributor.
When entering a new and potentially unfamiliar market, having a helping hand on the ground can be a comfort, as much as a practical help.
By working with Chambers of Commerce, exporters can benefit from assistance with entry into a new market, including introductions to potential clients, agents, distributors and in-market networks, as well as providing tailored training on the local business environment. The BCC International Network of Chambers can provide an invaluable resource in over 75 key international markets.
When it comes to international trade, how you enter a market for the first time can ultimately make the difference between success and failure. Chambers of Commerce via its network of contacts can offer assistance in identifying the different options for entering a new market, such as providing a detailed analysis and recommendations of an appropriate market entry strategy.
Once a business is satisfied with their market research, competitor analysis and the regulations within a target market, one of the best ways for a business to develop their presence is to join an organised trade mission.
Chambers of Commerce, through their extensive network of contacts, can assist exporters in identifying and preparing for relevant overseas trade shows and missions, ensuring these opportunities are as productive as possible. When entering a new international market, thorough preparation for a focused and dynamic schedule of meetings, introductions, networking, and relationship-building is vital.
Benefits:
- ensures you are properly prepared for your visit, saving you time and money
- gives you access to valuable contacts
An export club brings together businesses interested or involved in trading internationally. Ideas and information are shared.
If you would like to find out how to get in touch with your local export club please contact the global trade team on tel 01329 242420
International Sales & Marketing
B2B and B2C marketing in any new export market can be considerably different to that in the UK – from the approach, design and tone of marketing materials to nuances and potential regulation around online marketing.
We have members who are able to help so please get in touch with us on tel: 01329 242420.
Effective communication is the key to any successful business. With the help of a translation service, communication will no longer be a barrier to doing business.
We have members who are able to help. They can provide translations for an endless range of documents and websites including legal, technical and commercial material.
If you would like to know more please contact the global trade team on tel 01329 242420.
