B2B FX firms do best in markets exposed to exotic, frequently-fluctuating currencies. Sterling just became one of those, at least for the short-term.
For the time being, any SME trading outside the UK will be worried about the currency exposure risk of the cost of goods they’re buying and selling. For many SMEs trading fast-moving goods, currency fluctuations can wipe out profits and it’s the B2B FX firms’ job to give stability in the storm. Michael Gove may think the UK’s ‘fed up of experts’ but that’s exactly what you need if you have a planned shipment of stationery from China next month and you need to be sure you’ll be able to afford it by then.
As an FX trader now is the time to contact the companies with the biggest chunk of cashflow outside the UK. How do you find those companies? You look for those mentioned in the shipping manifests and import certificates of air and sea cargo ports. You look for those trading larger and increasing volumes of goods in the previous few months with special focus on those exposed to a variety of goods and therefore countries of origin. Plus those that are mentioned in the port records of multiple countries. You look for companies that have just opened a warehouse in Manila. And you beat their previous supplier on the expertise and stability you can offer them.
You can automate all of this with GrowthIntel. Make the most of this time of opportunity, your competitors will still be reeling. Give us a call.