Demand for credit insurance may rise among exporters
In order to boost their profits and enhance their long-term prospects, a rising number of companies are targeting custom overseas. However, exporting goods and services is not without risk and it may be important for firms to take advantage of credit insurance. By making sure they choose suitable credit insurance companies and select the right policies for them, businesses can help to minimise financial dangers.
Indeed, demand for such policies may be on the rise due to a move by the government to encourage British firms to export. Recently, the coalition administration awarded £13 million of funding to UK Trade & Investment (UKTI) to help more enterprises make contacts to sell abroad.
Most of the money (£9 million) will be directed towards assisting small and medium sized businesses (SMEs).
Meanwhile, UKTI is also preparing to host Export Week. From November 12th to 16th, more than 100 events will be staged around the UK in a bid to reach out to SMEs concerning this issue. There will also be five Explore Export events where UKTI experts from 70 overseas markets will be on hand to provide advice about trading with both traditional partners and high-growth markets.
Commenting on the importance of exports, business secretary Vince Cable said: “One of our major ambitions for growth is to boost UK exports: we have to excel in trade. SMEs are crucial to this challenge – over half of the monetary value of the UK’s exports comes from SMEs.
He added: “This extra funding will help those businesses already exporting to go further and explore new markets, and help those thinking of exporting to make that crucial first step.”
According to the politician, it is expected that more than 10,000 firms will benefit from the additional funding.
These days, it is straightforward for companies to get suitable credit insurance to help them export with confidence. Of course, it is vital they find the right credit insurance companies.
For more information please visit – www.what-is-credit-insurance.co.uk
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