If you’re an exporter, or thinking of becoming an exporter, the New Zealand Export Credit (NZEC) can help you overcome some of the challenges you may face.
As New Zealand’s export credit agency, NZEC’s main job is to provide financial support for New Zealand export businesses – both big and small.
NZEC also works with other government agencies to promote Kiwi exports and export-related investments.
They do this by providing trade insurance cover and financial guarantees that cover any risks you might come across when you do business internationally.
Watch: How NZEC can help with exporting
Transcript
[Audio: Music starts and plays throughout video.]
[Audio/visual: The words business.govt.nz presents are displayed against a blue background. The screen then switches to displaying the title: Your journey to exporting with New Zealand Export Credit (logo) against a backdrop of a graphic depicting multi-coloured shipping containers. Music continues.]
[Audio/visual: Presenter begins to speak with music in the background. Background containers disappear and only the New Zealand Export Credit logo remains.]
Presenter: New Zealand Export Credit or NZEC helps exporters and their suppliers grow through financial guarantees and insurance when a bank or insurer may not be able to help.
[Audio/visual: As the presenter is speaking, the words financial guarantees and then insurance are displayed beneath the New Zealand Export Credit logo. An icon of cash notes appears above the words financial guarantees while an icon of a shield appears above the word insurance, A red thumb icon is then displayed on top of the words financial guarantees and a green tick icon is displayed about the word insurance.]
[Visual: The logo Kiwi Cloud & Co is then displayed with three people sitting in front of computer screens around a large single table/desk with three lights hanging from the ceiling. There is an image of a water cooler to the left of the table in the background and a leafy plant to the right of the table. Initially there are two people waiting for an elevator to the left of the screen but they fade away into a darker grey rectangular block.]
Presenter: If you’re a New Zealand registered company and your transaction is both commercially sound and adds benefit to New Zealand then they can probably help you.
[Visual: While the presenter speaks three small blocks appear in the grey block with the words New Zealand registered company under the first block; commercially sound under the second; and adds benefit to New Zealand under the third block.]
[Visual: Woman with clipboard introduced to existing Kiwi Cloud & Co visual. Music continues]
[Visual: The words Short term trade insurance appear on left of the screen. New Zealand Export Credit logo in top left corner]. Presenter begins to speak. Music continues.]
Presenter: NZEC can provide short term trade insurance, longer term export credit insurance.
[Visual: Finger scrolls to next slide which has block with 2022 on it. Music continues.]
[Visual: Finger scrolls again to reveal image of young guy in red shirt, a lanyard around his neck and with a large gold $ coin bouncing in the palm of his hand in front of an image depicting a bank and with word “bank” at the top. The words “loan guarantee” are also displayed.]
Presenter: (continues) Loan guarantees and contract bond guarantees for buyers.
[Visual: Guy in red shirt shaking (left) hands with woman wearing glasses and a blue dress. Words contract bond guarantee displayed.]
[Visual: Words key suppliers displayed as well as an image of a cloud, computer monitor and graphics/writing on two computer screens.
Presenter: (continues) And also support domestic firms who’re your key suppliers.
[Visual: Screen turns blue with light blue rectangles and white staggered lines.]
Presenter: For more information visit their website exportcredit.treasury.govt.nz
[Visual: New Zealand Export Credit logo on left and business.govt.nz logo on the right displayed against a blue background. The website address exportcredit.treasury.nz is displayed beneath the two logos. Music plays]
[Visual: Ministry of Business, Innovation and Employment Hīkina Whakatutuki logo on left and Te Kāwanatanga o Aotearoa New Zealand Government logo on the right against a blue background. Music still playing.]
Before becoming an exporter
Before taking the first steps to becoming an exporter there are some business boxes that need to be ticked.
Among the questions you’ll need to ask yourself are:
- How will I manage my cash flow? Will I have enough money to pay my suppliers?
- What happens if a customer doesn’t pay me, am I covered?
- How can I get my business ready to grow if export orders increase?
These are questions NZEC can answer for you.
How NZEC can help you
NZEC offers the following services to exporters:
- Providing insurance to help you deal with the effects of a buyer cancelling a contract or not paying.
- Helping you clinch export sales by providing payment terms, or loans to your customer if a lack of funding is stopping a deal going ahead.
- Helping you find extra trade finance by providing a guarantee to your bank that they will be paid - NZEC can promise to pay if you can’t pay.
How you qualify for help
To qualify for NZEC support you need to:
- be a New Zealand registered company
- be an international subsidiary of a New Zealand company
- show there will be benefits for New Zealand from your exports.