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export-safely

Export safely with a trade credit insurance

The world is at your feet, but exporting comes with risks such as bad debts, currency risks and political instability. In this article, discover how to safely enter new markets with a trade credit insurance.

Your company has decided to expand operations abroad? Exporting offers new opportunities, gives you access to new customers and protects your company from domestic economic stagnation. However, exporting requires good preparation. Before exporting, you should ask yourself, are your products suitable for export and, more specifically, for your target market? 

What are export risks?

Exporting brings new opportunities but also, however, significant risks that must be assessed and minimized. Trade practices, legislation and local culture can be very different in different countries. Your experience in the Belgian market is not necessarily valuable abroad. Take the time to inform yourself about this before entering a new market.

Bad debt risk is the main problem for companies doing business abroad. There are many reasons why you may face export bad debts:

  • political and economic factors,
  • banking problems,
  • cultural differences in trade customs

... The list is long. Any company operating internationally must carefully monitor those risks. That's why information is so important to help you make the right decisions and ensure your growth.

How can you reduce export risks?

  1. CREATE AN EXPORT PLAN
    A good export plan is essential to reduce export risks. This plan helps you thoroughly analyze the international market and determine the right strategy. An export plan describes your target markets, expected costs, legal requirements and local competition, among other things. By conducting detailed research and developing a clear roadmap, you will be better prepared and increase your chances of success in new markets.
  2. CHOOSE THE RIGHT CUSTOMERS
    If you are exporting, selecting the right customers is crucial to avoid bad debt risks. Make sure you carefully screen potential customers and check their creditworthiness. By working with reliable and financially stable customers, you reduce bad debt risks.
  3. TAKE A TRADE CREDIT INSURANCE
    A trade credit insurance plays an important role in covering financial risks. A trade credit insurance protects your business against bad debt risks, even in unfamiliar or unstable markets. This helps you to export safely.

What is a trade credit insurance?

Informatie over de financiele situatie van jouw klanten
Financial Information
We monitor the financial situation of your customers and prospects. We share this information with you. This way you choose a financially healthy client portfolio.
Kies de juiste klanten en markten om zaken te doen
Debt collection service
Is a customer not paying? Then our collection team will work for you to still collect your money. This saves you time, money and energy!
Wij betalen de schade die jouw bedrijf oploopt als klanten de facturen niet betalen
Coverage against damage
If we fail to collect your unpaid invoices, we will compensate your loss. This way you avoid write-offs on your debtors.

Benefits of a trade credit insurance for export

  • Expertise of local trade practices and export regulations
    With more than 6,000 employees in more than 50 countries, we have extensive expertise of all local business practices and export regulations. We help you enter safely new markets.
  • Knowledge of the creditworthiness of your customers
    With our trade credit insurance, you get access to comprehensive information about the financial health of your customers and prospects, both in domestic and international markets. This helps you to do business safely, even in lesser-known markets.
  • Protection against bad debt risks
    Is a customer not paying? Then our collection team will work for you to still collect your money. If we fail to collect your unpaid invoices, you will still receive your money via our trade credit insurance.
reduce-order-to-cash-cycle

Start exporting safely today!

By taking out a trade credit insurance, you not only protect your business from future losses due to bad debts. You also take advantage of that protection as it helps you continue growth with new customers.

Wondering how this works for your business? Then contact our local teams via the form for more information or a non-binding quote.

Fill in the form below and we will contact you by phone within 48 hours. You can also call us on 02 790 24 15