Earlier this month I gave a talk down in Southampton alongside UK Export Finance, the British Business Bank and the Hampshire Chamber of Commerce to a group of exporters and entrepreneurs about the support and challenges of exporting and the whole provision of finance and the funding market in the UK.
We are partners to UK Export Finance, where they have businesses who either need further help accessing the facilities available, or as is often the case, businesses that have a need that sits outside the facilities available or they actually need different types of finance, whether that be debt and/or equity.
We at Snowball take a step back and perform a strategic review with clients to assess what funding they actually need, having understood fully their business, business model, financials, plans and market. Only then can they be correctly advised on what their options are and what type of funding is best suited to their requirements. Often, the options and the amount will be different at the end of the conversation than it will be at the beginning.
We can then access our 600+ list of debt and equity funders to match the type of funding and needs of the client, and all on a completely independent basis, as Snowball take no fees from any funders or investors, ensuring we only work for the client and provide them with totally impartial advice.
Back to the discussion on exporting, and I set out below the work that UK Export Finance do to unlock export potential.
Where businesses are looking to expand internationally but are concerned about cash flow or payment risks then UK Export Finance (UKEF) could be the solution. As the UK’s official export credit agency and a government ministerial department, UKEF has been helping British businesses succeed overseas for over 100 years.
UKEF partners with banks and other finance providers to offer government-backed guarantees that unlock opportunities many businesses thought were out of reach. Whether a business is an established exporter or taking its first steps into international markets, UKEF supports companies of all sizes across multiple sectors.
Products include:
The General Export Facility provides partial guarantees to help businesses access trade finance and working capital for everyday export costs like labour and inventory.
The Export Insurance Policy protects against payment defaults by overseas buyers.
The Bond Support Scheme guarantees up to 80% of contract bonds, freeing up cash to use as working capital.
UKEF support businesses through their network of regional Export Finance Managers based around the UK who can provide free and impartial consultations to businesses on their export finance needs. They help UK companies to check they are getting the appropriate export finance support and, if not, guide them on how to bridge any gaps.
With government backing and over a century of experience, UKEF has the expertise and products to help exporting businesses compete on the global stage to ensure that finance is not a barrier to international growth.
If you want any help or advice on exporting or indeed any other finance need and want to explore a strategic review of all your funding needs and requirements, please get in touch.