MACM, HSBC showcase ways to finance international business

Ways to do business outside Malta with maximum return on investment while managing risks was the focus of a seminar held by the Malta Association of Credit Management in collaboration with HSBC Malta last Thursday.

The seminar was opened by Richard Cottell, head of commercial banking at HSBC, and Louis Bianchi, president of MACM. Attendees included businessmen, bankers, MACM members and tertiary students of economics. The event focused on the various factors which influence international trade, mitigation of risks and ways in which Maltese business can finance trading activities when dealing with firms outside Malta.

"The Malta Association of Credit Management strives to introduce and update the business community in Malta about good trading practices, which very often include credit," Josef Busuttil, MACM director general explained.

"The objective of the seminar was to inform businesses about the services HSBC Malta offers to mitigate international business risk and ensure sound cash flow."

A small market economy, Malta depends largely on imports and exports. Participants at the seminar were told how the Maltese business community trading internationally is faced with increased exposure to risk and therefore requires knowledge on how to get paid when exporting, as well as how to pay for imports effectively and efficiently.

"With its global network and strong brand, HSBC is in a unique position to help Maltese businessmen expand beyond Maltese shores and tap international markets," Michel Cordina, deputy head of commercial banking at HSBC, emphasised.

"There is no substitute for local knowledge and through its presence in 86 countries, HSBC acts as an excellent bridge between business communities in different locations to overcome administrative hurdles and advise on strategies to maximise value and against market risk factors."

Entrepreneurs may obtain more information on how to lead international business from HSBC's Business Banking Centre in Qormi or by visiting www.hsbc.com.mt.