Export Development Canada (EDC) provides insurance and financial services, bonding products, and small business solutions to Canadian exporters. Jeff Keats, Account Manager at EDC has shared information on a few of the organization’s valuable services via the following guest article:
In my work, I talk to Canadian companies every day about what hurdles they encounter when doing business outside of Canada. The answers tend to be very similar. They need to:
- Manage the financial risk
- Maintain their access to cash
- Find relevant country and economic information to help them succeed.
Credit Insurance for Small Businesses
If you are venturing into a new foreign market, or taking on a new customer, the chances of not getting paid or having your contract cancelled can be a huge concern. It’s a situation that many companies face—some with devastating consequences — when a customer has ordered, or has even taken shipment of your product, but now can’t pay.
You may feel you know your customer and have confidence in their ability to pay, but what about your customer’s customer? With integrated supply chains, one bad debt or bankruptcy can have a domino effect. EDC’s credit insurance can protect against this.
Working Capital Solutions for SMEs
To trade competitively in today’s marketplace, you need a strong supply chain that includes domestic and offshore suppliers. EDC offers a range of financing and business processes that provide short-term credit to optimize working capital throughout the supply chain for both buyers and sellers. Although short-term credit is not a new phenomenon, connecting financial transactions to the movement of value through a supply chain is.
EDC Export Resources
EDC’s expertise and experience can help you do business in up to 200 markets worldwide. Scan our website at EDC.ca to discover detailed country information, insightful economic analysis, informative publications and reports or plan to attend an upcoming seminar, webinar or trade mission.
Attend a Free Canadian Small Business Grants & Loans Workshop Featuring Speakers from EDC
Interested in learning more about Canadian small business grants and loans opportunities and services offered by the EDC? If your firm has more than 15 employees, has been incorporated for at least 3 years and performs manufacturing or R&D in Canada then you are invited to a complimentary information session. The date is July 10th in Markham, Ontario. Sign up now for our Canadian government funding workshop with co-host EDC.