We have a range of export finance options available for Irish businesses.
My Business is Exporting
Export credit insurance made simple
When exporting, it is important to protect your business against the risk of non-payment by your overseas customers. Commercial risks include your buyer’s insolvency through bankruptcy or receivership.
Export credit insurance can help you mitigate these risks and protect your business against the risk of non-payment. There are a number of providers of this type of insurance so you may want to seek independent advice to ensure that the insurance meets your needs.
Euler Hermes provides trade related insurance solutions, including "Simplicity" which is an off-the-shelf credit insurance policy that protects against bad debt.
To find out more, call Euler Hermes on 01 518 7910 or visit http://www.eulerhermes.co.uk
AIB is not an agent or intermediary of Euler Hermes.
Expand into new markets with DHL Express
If you are considering exporting to new markets, check out DHL Express' exclusive 50% discount offer for AIB Business Customers.
To find out more about DHL Express offer, call
01 870 15 90 or visit www.dhl.ie/aib
Financing your export strategy
A healthy cashflow is important for any business, and ensuring your business has the right type of funding to support this cashflow is critical to the success of your export strategy. Our €200m SME Export Finance Fund provides exporting businesses with a range of finance options, depending on how much you need, what you need the funds for, and your business repayment capacity. These include working capital (such as an overdraft or Invoice Finance) and bank finance. We can support your business expansion plans with medium or longer term loans and leasing facilities.
Managing currency risk
To win an export contract, your business may need to transact in a currency other than euro. This can expose you to exchange rate risk, whereby adverse currency movements may reduce or eliminate the margin your business earns on the underlying transaction. Talk to AIB Customer Treasury Services about the practical steps you can take to minimise this risk.
Making sure you get paid securely
We have a range of solutions to help your business get paid securely in a way that suits you. With a documentary collection, you can use us as your collecting bank. Your shipping documents are held by us and are released to the buyer only on agreed terms, i.e. against payment or against acceptance of a bill of exchange. Alternatively, you can insist on a letter of credit if you would prefer security of payment prior to goods being shipped.
Making and receiving international payments efficiently
Our foreign currency accounts make it much easier to make and receive payments in foreign currencies.
Exporting, by its very nature, involves travelling abroad. You can save time and money on buying foreign currencies by availing of one of our credit cards, which are ideal for business use throughout the world.
Helping you win business in foreign markets
When bidding for new clients and contracts overseas, you may need to provide bank guarantees or bonds. For example a tender guarantee can be used to accompany your tender, or a performance guarantee can provide assurance of performance if you win the contract.
Talk to us about what products are available to support your bid for a contract.
Plan to Succeed
Exporting is complex and challenging and it takes time and effort to succeed. You need a strong commitment and resources to compete for business in new territories. But with careful research and planning, exporting can be a rewarding growth strategy for your business.
Our Export Plan Template is specifically designed help you set out and assess your exporting strategy.
Supporting your export business
Don't forget there is a wide range of support available from government agencies and representative groups. Check out our export useful links for more details.
- 5 Step Approach to Entering New Markets
- Choosing the Right Overseas Business Partners
- 5 Intellectual Property Facts You Should Know Before Exporting
- Export Review: Q1 2015
- 4 Tips for Selling Your Services Internationally
- 7 Ways to Build Relationships with Overseas Companies
- 2014 Export Review
- Why You Need An Export Plan For 2015
- Export Review: Q3 2014
- Outlook: Exports
- Taiwan can be Ireland’s Gateway to China
- Export Review: Industry Half-Year 2014
- Cultural Tips for Successful Business Negotiations
- Exporting Review: June 2014
- 10 Online Retail Implications of New EU Consumer Rights Directive
Other available Export Finance options
Please note that the provision of this product or service does not require licensing authorization or registration with the Central bank of Ireland and as a result it is not covered by the Central Bank’s requirements designed to protect consumers or by a statutory compensation scheme.
Third party investors – Seed Capital
Seed Capital is when a third party investor exchanges funds for a percentage ownership of your business. We have committed €75 million in seed funding for early stage businesses through
(1) the AIB Seed Capital Fund and
(2) the AIB Start Up Accelerator Fund.
Both funds are set up with the support of Enterprise Ireland and managed independently of the bank and Enterprise Ireland by a team of professional fund managers.
More information about seed capital funds operating in Ireland is available from the Irish Venture Capital Association.
Business angels are private investors who invest smaller amounts of finance in early stage companies. In Ireland, there is a national Business Angel Partnership network to bring together the private equity activities of Enterprise Ireland, InterTrade Ireland and the Irish Business and Innovation Centres by matching private investors with pre-screened investment opportunities in start-up, early stage and developing businesses. More information on business angels is available from The Halo Business Angel Partnership.
Tax Relief Incentive Schemes
Currently there are two tax relief incentive schemes:
(1) the Seed Capital Scheme and
(2) the Business Expansion Scheme
The Seed Capital Scheme provides for a refund of tax already paid by an individual, when that individual sets up and takes employment in a new qualifying business. The Business Expansion Scheme provides tax relief for investment in certain corporate trades.
For more information check Revenue.
Microfinance Ireland has been funded by the Irish Government to provide loans to newly established and growing micro-enterprises across all industry sectors that do not meet the conventional risk criteria applied by banks. In the first instance, you should approach your bank for credit. In the event that credit is declined, you are eligible to apply to Microfinance Ireland for a loan.
Microfinance Ireland works in partnership with the Local Enterprise Offices who can assist with training and guidance in preparing your business plan. They will also conduct an initial evaluation of the quality of your business proposal for a loan application.
Established in 2012, Microfinance Ireland is now open for business and accepting qualifying applications. The company offers loans to viable businesses that have been declined for credit by a bank and are seeking up to €25,000.
Some of the links above bring you to external websites. Your use of the external website is subject to the terms of the site.
Export Useful Links
AIB Corporate Banking FDI
A dedicated unit within AIB Corporate Banking Ireland solely focused on Foreign Direct Investment in Ireland
AIB Economic Research Unit
Financial research in forex and fixed income markets, and research on Irish and international economies.
Your first point of reference to find out more about our export products and services.
AIB FX Centre
Updates on market movements, general economic analysis and Treasury product information.
AIB Merchant Services For businesses using ecommerce as an export channel, AIB Merchant Services can enable the acceptance of card payments online and over the phone, with dynamic currency conversion and multicurrency processing www.aibms.com
AIB Seed Capital Fund
Investigate potential seed capital funding for your business.
AIB Trade Finance
Product information and solutions to assist you in identifying and managing risks associated with International trade.
Connector between Irish Food and Drink and possible customers throughout the world.
Business Access to State Information and Services Information on support packages available to Irish businesses is available from the Government's website - Business Access to State Information and Services www.basis.ie
British Irish Chamber of Commerce
Represents both sides of the Irish sea that are focused on Ireland’s economic development.
A business organisation - a chamber consists of local business representatives who join together to promote the economic and social development of their community.
Department of Jobs, Enterprise and Innovation
For information on government agencies and employment law.
Department of Finance
SME online search tool for over 80 Government supports.
As an AIB Business customer, if you open a new DHL Express account, DHL Express will give you at least 50% off their standard tariff for international shipping for 12 months. DHL Express Terms and conditions apply.
Global market leader in the international express business and specialise in the door-to-door delivery of documents and parcels to over 220 countries and territories worldwide.
Enterprise Europe Network
Provides links to overseas connections for businesses to be able to operate trans-nationally.
Government organisation responsible for the development and growth of Irish enterprises in world markets.
Advice, guidance and support for new, first time Irish exporters and early exporters looking to Export.
Represent the general interest of the EU and operate as the main force in implementing EU laws and policies as well as pushing forward new legislation.
Access to European Small Business Portal - Portal is used to put together all EU advice and issues for SME’s.
Inter Trade Ireland
Organisation responsible for promoting business growth through cross-border trading for SMEs in both Ireland and Northern Ireland.
Ireland China Business Association
To build relationships with businesses in Ireland who have commercial interests and/or connections with China.
Ireland India Business Association
IIBA is a member driven organisation with the main aim to establish a platform between India and Ireland to encourage economic development. For membership details contact firstname.lastname@example.org.
Ireland Russia Business Association
Non-profit company dedicated to promoting economic and trade links between Ireland and Russia for mutual benefit.
Irish Business and Employers Confederation (IBEC)
National voice of businesses and employees and is the umbrella body for Ireland’s leading sector groups and associations.
Irish Exporters Association
The Irish Exporters Association (IEA) is the “voice of Export Industry” in Ireland, the “connecting force for Irish exports” and the “source of practical knowledge.” The IEA represents the whole spectrum of companies within the export industry including SME’s who are beginning to think about exporting for the first time right through to global multinational companies who are already extensively exporting from Ireland.
Irish Point of Single Contact
Main role is to provide general information on the procedures required for Irish/EU Businesses who intend to operate in Ireland.
Local Enterprise Offices
Operates as “first stop shop” for any person in Ireland looking for information and assistance on starting or growing a business in Ireland.
National Standards Authority of Ireland SME Portal
NSAI are dedicated to SME’s and want to show SME’s the benefits of standardisation.
Office of Government Procurement
Operates as an office within the Department of Public Expenditure and Reform (DPER). Main aim is to centralise public sector procurement arrangements for goods and services in Ireland.
Actively work with businesses in a wide range of industry sectors to address current and future skill needs. Training is subsidised.
Management development training combined with mentoring support for SME managers, which aims to assist SMEs to grow in terms of their sales, output and employment.