Whilst nobody would disagree that since 2008, it has been extraordinary tough for business and in particular SME's, the fact remains that through the financial mire the insane optimism of entrepreneurs has shown and many thousands of new ventures have been started and many flourished.
Resiliency
Those entrepreneurs and Corporate Finance Services are an inspiration for everybody and should be acknowledged as such who take the plunge into new ventures. By those businesses that have survived the horrors of the last six years, stark lessons about how hard work, perseverance and resilience can achieve remarkable things are offered.
There are clearly countless reasons that makes one idea or business prosper and another fail but one of the keys factors in my opinion is ensuring that the venture fits within the economic backdrop that exists at the time; don't fight the times but work with what is in demand and what resources are available.
Overseas markets
At finding niche markets for their specialized products businesses in the UK have always been good, as they have an abundance of creative entrepreneurs. This is exactly what the current economic challenges demand for; the world of finance needs to support them. Advantages of Exporting
In Zug is there are a number of initiatives and organizations set up specifically to assist with export and it mark one of the great advantages of being an exporting business there.
It is vitally important that the cultural, legal and social differences should be understood within an area when a business is looking to enter new markets and territories.
To have universal procedures and documentation for world trade is one of the great achievements of modern times and it is still important to have practical help to guide you through the difference of local markets and Trade Finance Systems.
This is where the knowledge of groups and the International Network are advantageous; the Embassy's give knowledge and experience apart from providing crucial confidence when pitching for and winning business overseas.
Organizations such ECGD can help with insurance products to help guarantee payments once you have secured the hard-won contract. Unfortunately some of these products have not been completely thought through and in my experience to get them right in a number of situations a reasonable amount of work is needed.
The ECGD are willing to help adapt the products if they are asked the right questions and perhaps more importantly provided with the right answer.
Invoice discounting and Factoring
Many businesses use factoring and invoice discounting as it's a very good service when used in the right situations. When the invoice has been raised and goods are delivered then only it comes into play. When the end customer is overseas this becomes a challenge.
For debts that are due from overseas entities then the services are not offered by many UK invoice financiers. In these instances, one of the few total solutions is trade finance.
The key difference is that against a confirmed purchase order or contract a true trade financier will not end the money but will physically buy and sell goods. Rather than lending money the risk is partly managed by owning the goods ordered.
