All export businesses, particularly SMEs, are subject to banking risk and restrictions.

A ‘health check’ can quickly identify potential risks and recommend appropriate solutions, says Jeremy Sprott, principal/director of BC4B Limited (‘Business Consulting for Banking’).

If you’re running an export business, no matter what the size, you should proactively manage your ‘bank risk’ by undertaking an independent review of your banking solutions and working capital facilities – to ensure you’re working with the optimal best fit.

 “History has shown us that what may have worked in the past, or a particular proposition that was attractive at the time, may not be the case today,” explains Sprott, an ex-corporate and commercial banking manager with 25 years’ experience in trade and supply chain finance.

Export transactions are complex; managing cashflow, foreign exchange, collecting payment on time and in full is critical, but an independent health check offers a sound governance and risk management practice to ensure export transactions are successful and profitable – and therefore ensuring sustainable growth for the business.”

BC4B has offices in both Wellington and Auckland, providing help and guidance for export SMEs nationwide as an independent in-house banking advocate.

The company supports the entire financial supply chain for export transactions.

“We add a lot of value around such things as unlocking cashflow, structuring contracts and method of payments – including working capital solutions that de-risk transactions,” says Sprott. “BC4B maintains a collaborative relationship with all New Zealand banks to also help make their jobs easier when it comes to supporting their export customers.

“I’m talking about things such as applications/requests for new or increased facilities, annual reviews, structuring transactions, resolving problematic transactions, preparing documents under export Letter of Credit to ensure compliance, managing banking tenders, and being the conduit between client and bank to ensure an export deal is workable.

“The access to optimal trade finance is critical.”

Sprott says BC4B has a compelling proposition to tell. Now in its fifth year the company maintains a large and growing number of export clients – all engaging its services to their advantage. Sprott runs the Wellington office covering the Central and Southern regions. Colleague Jim Henderson located in the Auckland office supports the Northern Region.

“We connect exporters to our network of experts where a need is identified to add value to the exporter,” Sprott adds. “This includes trade credit insurance, foreign exchange, freight and customs, essential software solutions to manage risk, and document preparation services.”

Problem solvers

BC4B also maintains close connectivity with a number of Government agencies and professionals, including the NZ Export Credit Office, to support transactions the banks cannot support or are in need of additional financial guarantee products to capitalise on contract opportunities or de-risk transactions.

“We basically solve problems for exporters and steer them in the right direction on all export transaction and finance related matters,” says Sprott.

Being ex-bankers makes all the difference, he continues. “We understand how banks work and how they think. We know the right people and we speak their language.

“We can find solutions that can save businesses money and time. In addition, we offer Client Services expertise to answer questions or solve problematic transactions or funding needs that banks have perhaps not supported to the customer’s satisfaction.”

On the freight and logistics front, BC4B maintains a strategic partnership with 360Logistics Group, who specialise in freight forwarding and logistics.

360Logistics, with offices throughout New Zealand, services the physical movement of exports and BC4B the financial supply chain. It’s a unique partnership delivering international trade facilitation and helping New Zealand exporters succeed.

De-risking your export transactions

Commercial and Business banking throws up a number of challenges and risks – add in complex export-related transactions, and the risk factor can be much higher.

That’s when experts like Jeremy Sprott and Jim Henderson at BC4B, as your in-house banking advocate, can make a world of difference.

To contact BC4B, phone Jeremy Sprott 04 568 1965 and 021 655 760, email: jeremy@bc4b.co.nz – or Jim Henderson 09 280 4932 and 027 4808 247, email: jim@bc4b.co.nz. For further information visit: www.bc4b.co.nz