NZEC Newsletter - September 2020

Kia ora from the NZEC team,

With the domestic and global environment continuing to be full of uncertainties and challenges, we would like to acknowledge the resilience, sacrifice and adaptability of the businesses that we have engaged with over the last few months.  We have been encouraged by the levels of export sales that our team has been asked to support via the range of our trade credit insurance and financial guarantees. 
Since 1st April this year, we have covered export sales spanning 49 countries around the globe.  A lot of this support is through our top-up cover, trade credit insurance arrangements with the private insurers, and this newsletter shares an example.
Please contact us if you have any questions about how NZEC or any other Government support schemes may be able to assist with your export recovery and sales.


Maintaining secure sales through COVID-19

Mr Apple accounts for around 30 percent of New Zealand’s export apple industry, selling to 160 customers across 40 countries. When Covid-19 hit, Mr Apple was determined to keep selling to its international customers with the confidence of trade credit insurance.  Click here to learn how Mr Apple utilised a risk sharing arrangement between its primary insurer Atradius and NZEC to have security of payment for its ongoing sales.


Exporting intelligent transportation systems

Connexionz bus

When the technology company, Connexionz, won a year-long project in California it sought an overdraft to provide an additional working capital buffer.  Read here how NZEC partnered with Connexionz and Westpac to get the project moving.



Government support for business recovering from COVID-19

There are currently a wide range of Government support measures for businesses recovering from COVID-19, which are summarised here.

One of these measures, the Business Finance Guarantee scheme, was recently expanded to enable general purpose borrowing for businesses recovering from COVID-19.  Key changes included:

  • increasing the maximum loan limit to $5 million, and maximum term limit to five years;
  • eligibility for firms with annual revenue up to $200 million;
  • the loans able to be used to re-finance up to 20% of a borrower’s existing debt; and
  • clarification that there is no Government expectation that lending requires a general security agreement or personal guarantee (however this remains the bank’s discretion).

The scheme remains available until 31 December 2020, and more details are here.

Celebrating exporter resilience

This year AmCham New Zealand is celebrating resilience at its 2020 Awards night.  It is looking to recognise 6 companies, organisations, or individuals who have shown resilience, ingenuity, have re-pivoted, and have been successful in growing relationships/business between the USA and NZ this year.  Entries
close on September 11th, 2020. For further details and to apply, click here.

Economic and international market updates

Many NZ Inc. agencies are researching and releasing regular updates for businesses about economic, global trade, and country reports.  Examples include:

Team Travels

Our team welcomes your enquiries and virtual meetings using Skype, Zoom, Microsoft Teams or the phone.  We are also available to meet face to face if required, and look forward to participating any exporter events in your region. 

Kind regards from,

Chris, Kim, Feliza, Sheila, Peter, Phil, Michael, Thomas, Kyle and Jennifer