Managing your finances for export

You may be able to cover these costs from cash flow or your business reserves, but you don’t want to cause yourself future cash flow problems.

If you decide you need to source additional finance, we may provide support. We have the expertise to help Australian businesses with their export activities and can offer a range of finance solutions to support these.

Preparation is key

1. Have a clear idea of your objectives and long-term goals, so you’ll be able to map out a sound export plan that will support you in anticipating when you’ll need extra finance.
2. Prepare a cash flow forecast, so you can identify times when there may be more cash going out than coming in, and you’ll need extra funds to fill the gap.
3. Establish efficient accounting systems, so you always have an accurate picture of your business’s creditworthiness. This will help you to secure finance when you need it.
4. Budget for each stage of the export process, from initial research and planning through to full-scale operations. Ensure you include the cost of extra staff, logistics, travel and marketing expenses.
5. Don’t neglect your domestic business to drive the export market. Ensure you have enough finance for all parts of your business operations.

Managing payments

Managing payments can have a major impact on your cash flow. It’s important to have a robust process in place before you start exporting and ensure you closely monitor your cash flow throughout your export journey.

Be clear with your international customers about your terms of sale. You may need to ask for a part payment upfront before sending any goods.

There are numerous payment options available for international goods and services, so decide which is best suited to your product, your customers and your financial security.

Typically, there are costs and some restrictions on moving money internationally. Work with your bank to find the best solution for your business.

By staying on top of your payment process, you’ll be able to respond to any cash flow shortfalls before they get out of control.