Financial Position

Financial Position

Financial Position

Before negotiations which are intended to lead to the appointment of an agent become too advanced, the ONLINE MARKETING Manager should satisfy himself about the agent's financial stability. To commence trading in an overseas market through an agent who subsequently fails, due to lack of adequate working capital or inefficient operation, can be a major setback to one's export plans. Some loss of confidence is bound to occur among customers in the territory concerned. All the efforts which the company has already devoted to launching the agency arrange-ment, are likely to have been wasted. Furthermore, there is the danger that existing business in the area will drain away before a new agent can be found, appointed and set to work on the territory.

Common prudence suggests a careful vetting of proposed agents commencing with a check upon their credentials through one of the finance intelligence houses specializing in such work. The creditworthiness of overseas agents may also be checked, by British firms, with the Export Credits Guarantee Department of the Department of Trade and Industry.


What next? - Attitudes To Price Cutting



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