Bibby Financial Services boosts vital funding support for SME exporters

Fri 9 Oct 2015
Posted by: International Trade News
Trade News

Mark Lindsay, Managing Director of International and Trade Services at Bibby Financial Services.

Corporate member, Bibby Financial Services, is backing the IOE’s drive to enhance understanding of the issues and challenges faced by businesses trading overseas – and is raising awareness of the funding support available to them.

Formed in 1982, Bibby Financial Services provides funding solutions for over 9,000 business customers worldwide. Employing more than 1,200 staff and with offices across Europe, Asia Pac and the Americas, it handles an annual client turnover of £8.6 billion and advances in the region of £750m to SMEs throughout the world. The business also offers multilingual, multicurrency, credit control and sales ledger management support services.

A marked increase in the number of its clients working outside the EU in recent years saw the business significantly increase its exporting capabilities and the company now works with debtors in over 100 countries, including Malaysia, where it has recently opened an office.

Mark Lindsay, MD of International and Trade Services for Bibby Financial Services, said: “We became an IOE member earlier this year to help promote trading internationally and to enable SMEs to grow by doing so.

“Such ventures present huge opportunities and, having supported importing and exporting businesses for more than 20 years, we understand the challenges they face and, more importantly, what is needed to overcome these challenges.

“As a leading authority in best practice for companies working in international trade, the IOE offers us a unique platform to share our expertise in global markets. Vitally, it is an invaluable resource for our teams, who work alongside the IOE’s team to communicate the benefits of exporting to SMEs and to raise awareness of the vast array of support available.”

The leading independent invoice financial specialist backs the IOE’s ongoing call to action for businesses to equip their staff with the skills required for trading internationally – in the knowledge that such investment results in an improved market understanding, better customer relationships – and increased profitability.

A number of Bibby employees have completed IOE qualifications, including the Advanced Certificate in International Trade (ACIT). Several others are currently working towards gaining the Certificate for International Trade Advisors (CITA).

The IOE’s Director General, Lesley Batchelor OBE, commented: “It is likely that there will be a shortfall in the government’s target of £1tn in UK exports by 2020 and we are pushing international trade back up the national agenda to encourage more firms to start exporting. We’re delighted that Bibby Financial Services is helping us to raise business awareness of the practical and financial support available to exporters.”

Concluded Mark Lindsay: “Our global network and local presence enables us to transcend times zones and language barriers. Clients benefit from local knowledge in the nuances of cultural, legal and economic dimensions.

“Many SMEs feel unable to maximise export opportunities, often citing a lack of funding as the main reason for this. Export and trade finance can make a huge difference to those looking to expand into overseas markets and over the next three years, we plan to double our funding support for these businesses.”

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