AMSTERDAM, July 9, 2014 /PRNewswire/ --
After falling into recession in 2012/13 the Czech Republic has seen a revival in both business and consumer confidence this year: an encouraging sign for foreign companies planning to export to this resurgent market.
To assist those companies, leading credit insurer Atradius has published a concise report - 'Trade successful with the Czech Republic'.
The report covers a wide range of issues that foreign exporters to the Czech Republic should take into account and prepare for, to help make their ventures a success. These include:
- weighing up the potential benefits of the various forms of local presence, such as agency, partnership and limited liability company, and ensuring that they obtain an authorised trade license
- adapting their pricing strategy to take account of the average disposable income in the Czech Republic
- choosing the most cost effective way to resolve trade disputes, through mediation or arbitration
- protecting their credit sales against the risks of non-payment
To accompany its report, on 9 July Atradius is also broadcasting a live webinar discussion - 'The key to business success in the Czech Republic' - in which a panel of experts will discuss the opportunities for trade with the Czech Republic, the pitfalls to avoid and the assistance available. Both the report and the free webinar can be accessed through the Atradius website, where a recorded version of the webinar will also be available for a further 12 months.
While the Czech Republic has successfully emerged from its economic dip of recent years, there's still a need for good financial management when trading on credit terms, as Marketa Strzinkova, Atradius' country manager for the Czech Republic, explains:
"As with any market, there will be risks, so an effective credit management regime will help you strike the balance between maximising sales and minimising the risk of late payment or bad debt. It should start with an accurate assessment of a potential customers' payment behaviour: get that wrong and you may incur serious cash flow problems. Atradius can provide that insight, as well as the reassurance that your credit sales are protected."
The Atradius Group provides trade credit insurance, surety and collections services worldwide and has a presence through more than 160 offices in 50 countries. Atradius has access to credit information on 100 million companies worldwide. Its products help protect companies throughout the world from payment risks associated with selling products and services on credit. Atradius is a company of Grupo Catalana Occidente, one of the leading Spanish insurance entities, listed on the Spanish stock market.
SOURCE Atradius N.V.