More and more SMEs are venturing into overseas trade, either as importers or exporters. The rewards can be worthwhile, but don't overlook the risks. And make sure you deal with an experienced lender who can provide the working capital and other assistance you'll need to make a success of it. That's the advice of Mark Sydes, head of trade finance at BOQ. He points out that shipping delays, customs procedures and the like can have a have an unfortunate effect on cashflow. And you'll need protection against foreign exchange movements, which can occur at any time. Do your homework, he says, and get good advice before you leap.
Adobe Flash Player (version 9 or above) is required to play this audio clip. You also need to have JavaScript enabled in your browser.
|
