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Prospecting, exporting and setting-up require many financial risks for all companies

 

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Prospecting in markets such as Southeast Asia implies diverse and adapted methods for companies: participation to a tradeshow, recruitment, a RO (Representative Office)…These expenses can represent a significant investment. Many financial measures can be used in this situation.

 

Prospecting in markets such as Southeast Asia implies diverse and adapted methods for companies: participating in a tradeshow, recruitment, a RO (Representative Office)...These expenses can represent a significant investment. Many financial measures can be used in this situation.

  • In order to limit financial risk in case of unexpected commercial events, BPI France (Banque Public d’Investissement) intervenes in prospection expenditure guarantee with two interesting tools such as:
  • Prospection insurance for exporting SMEs (Small and Medium-sized Enterprises) with a turnover below 500 million of euros (€).
  • To hire someone in Singapore who will take care of the prospection of the markets of Southeast Asia, or even Asia, the VIE programme (Volontariat International en Entreprise) is a good option. Moreover, the VIE contract benefits from national and regional supports: export tax credit, prospection insurance, as seen from absorption of majority VIE employment costs by many French regions.

 

Learn more about the VIE programme

 

 

Export your products and services

Exporting in Singapore turns out to be a really safe operation because of the political, legal and regulatory environment. The risk can be greater in other Asian countries. To limit the buyer risk taken by the company during the conclusion of a sales contract with a foreign client, BPI France started the export credit (buyer and supplier credits) for SMEs: credits from 1 to 75 million euros for the procurement of goods and services from the medium to long-term and produced in France (20% of the offer).

 

For the sales of products and services in the short term, BPI France introduced the ‘’Avance + Export’’: in case of a foreign client’s default, the SME is redeemed to 90% of factored invoices. ‘’Avance + Export’’ allows the company to:

 

  • Check the solvency of a foreign client before the signature of a new contract with him ;
  • Insure the invoices issued and to get a payment and compensation reminder service in case of a foreign client’s default ;
  • Benefit from a cash advance from BPI France in order to anticipate payment deadlines varying from one country to the next.

 

 

Set-up in Singapore

BPI France offers two products: The Guarantee of international projects and the International growth loan. These are services which allow SMEs to lighten the investment weight in the creation of a subsidiary or the acquisition of a company in Singapore.

 

 

THINGS TO KNOW

The RO (Representative Office) can be a first step to explore the Singapore market, in order to validate a definitive set-up. The RO’s fees, work permit application for the VIE, domiciliation/Business Centre can be incorporated into the costs of the prospection insurance.

 

 

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