The market for goods and services is truly global and even if you are new to the prospect of trading overseas, it is almost unavoidable if a business is to be competitive. Trading in the EU can be easier but even then, sourcing products from some of the newer EU countries or setting up export markets can be a hugely time consuming and daunting task.
We are experienced in entering new markets and sourcing products. We can set up a project plan to cover all aspects of your proposed venture, whether it be importing, exporting or locating certain operations abroad. This ensures that you deal with all aspects of the project in the right order and achieve everything you need in the shortest possible time.
Arranging branches or corporate structures abroad, considering the best group structure if any, working with notaries and lawyers both locally and abroad, preparing documents and arranging apostilles, ascertaining overseas legal requirements by dealing with professionals abroad, protecting payment for goods and setting up cross border financial reporting are just a few of the areas with which we can help.
We already have or can readily source contacts in USA, Romania and the Baltics, Africa and the Middle East.
Every venture is different and our expertise is applying experience and knowledge to your particular set of circumstances. Feel free to contact us to discuss your requirements.
Cross border accounting
We have extensive experience of accounting for groups operating in different countries and dealing with currency issues, foreign exchange, forward exchange contracts and inter group transfers. We have been instrumental in developing systems for groups operating globally and both designing and streamlining internal reporting structures.
In many cases you can find sources of products overseas which, even after shipping, can be at much lower cost than buying from conventional sources. Many UK suppliers or even European suppliers in the UK are sourcing product from Eastern Europe or even outside the European Community.
We specialise in sourcing products from Eastern Europe, where we can source both “off the shelf products” and also specialized products as well as raw materials. We can usually advise on feasibility within 10 days and we make no charge for investigating the possibilities. Contact us
Import and Export
Each area has its own set of complications but in both cases you need to deal with logistics and documentation. Despite the work involved, the rewards may be more than enough to compensate. Exporting opens up potentially vast markets for your goods and services whilst importing enables you to benefit from a price competitive edge in the UK by taking advantage of lower manufacturing costs abroad.
We have much experience in house, gained over many years, of shipping goods around the world and working with Freight Forwarders. Contact us to discuss the options.
If exporting, you will probably need to set up a letter of credit to guarantee payment for your goods. This follows for importing goods too so even if you have good credit standing in the UK, do not be surprised if an overseas supplier asks you for a letter of credit. It is important that this document is accurate – the slightest mistake will result in the payment not being guaranteed. Your shipment should be insured and it may be possible to obtain credit insurance against a payment due to you.
Goods do not move if paperwork is not correct. Customs in different countries have different rules and it is easy to send the wrong paperwork. You need to be aware of Customs procedures and reliefs which apply to you, export declarations, valuations, goods classifications and rules of origin. You also need to be aware of sanctions, embargos and restrictions which may prevent you from trading with certain countries or in certain products.
This is often a lower risk route into a new market and in some countries it is a requirement that you join forces with a local company.
How can we help?
We have wide experience in this area with contacts in many countries, including Central and Eastern Europe, Gibraltar, the Middle East and the USA. We would welcome the opportunity to discuss your requirements and set out a proposal for achieving your objectives. Call us or send an e-mail.