Expert from Coface and BCCI have given decisions for stable export
Good management of risks in foreign trade transactions can be a source of security for export but also for funding opportunities. In addition, preliminary collection of information on potential partners, together with the insurance of risks of non-payment represent a complex solution that can provide stability in exports.
Тhese are part of the useful solutions that Milena Videnova, Country manager of Coface Bulgaria and Tsvetan Simeonov, President of BCCI have given during the round table on topic "Export financing and non-payments risk prevention”. The event took place yesterday. 29 September 2014, in Plovdiv within the opened a bit earlier 70th edition of the International Fair.
The round table attracted companies from the region, which received information on the possibilities for exploring foreign partners, for the available services of BCCI and for the for review of the country and sector risks in the world. Milena Videnova noted that "risk can be reduced by relying not only on public information but also on expert opinion, by making a request to Coface." Each company may insure risks of late payment or non-payment, and the policy can be used for a collateral for bank financing. "Thus it can provide affordable means for working capital needs, and insurance payments are a good alternative to the letter of credit, bank guarantee, etc."- she added.
This round table was the first of a series of round tables in the framework of the "Project for business development and growth" of Coface Bulgaria and Bulgarian chamber of commerce and industry (BCCI). The initiative has the aim to give useful know-how for stability and prevention against risks and financing the company activity, especially of SMEs. Practical solutions for cash flows management and achievement of higher competitiveness in the domestic and export markets will be discussed during the round tables. Till end of the year similar initiatives will be held in Burgas, Yambol, Stara Zagora, Pleven, Ruse and Varna.
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