Trade Topics » Managing International Risks

Managing International Business Risks

Risk Management is a key part to any international business expansion plans.

Knowing what to do when don’t go to plan is vital, and up-front awareness should also lead to better ways of managing the processes so that the likelihood of problems is reduced.

Country risk: a PEST analysis. Review of the Political, Economic, Social and Technological macro-environmental factors. This is a key component to your external analysis when conducting a strategic analysis or doing market research.
Commercial risk: the risk of not being paid by your buyers. You need to ensure that you are getting your product to buyers and ensuring payment.
Payment risk: payment methods, how to protect your FX risk.
Market risk: contingencies for changes in market conditions and product demand

If your business is new to international trade, it is important to assess and plan for the different risks you will face.

The below guide outlines the key risks you should consider:

Marine Cargo Insurance
Products Liability Insurance
Trade Credit Insurance
Political Risks Insurance
Corporate Travel Insurance
Insurance Premium Funding
Credit Insurance for export receivables

The ECA runs tailored workshops on managing international risks.

WORKSHOP INFORMATION

INTERNATIONAL TRADE PUBLICATIONS

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Eric Meppem,
Co-Founder & Commercial Director,
Pharmako Biotechnologies Pty Ltd
Member of the ECA

"Pharmako Biotechnologies were already exporting when we joined the ECA. We joined to assist our export strategies, and unashamedly to promote ourselves through the Australian Export Awards. As a small business, third party recognition and industry membership assist when dealing with large multinational businesses."

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