Hello, Welcome to the second edition of the Talking Trade newsletter. In this edition, we'll focus on optimising international working capital by connecting the physical supply chain with its financial counterpart and helping to build business resilience. We'll also explore settling invoices in local currencies for international suppliers. Plus, we'll cover the UK Export Academy by the Department of Business and Trade, offering essential knowledge and tools for selling overseas. Whether you're diving into international trade mechanics or seeking opportunities at trade shows, Bank of Scotland is here to support your importing or exporting ambitions. Find out more in our collection of news and insights. Working Capital THROUGH THE EYES OF A TREASURER Global events, from elections to weather disasters and conflicts, are heavily impacting businesses' operations and supply chains. Many are prioritising supply chain resilience by on-shoring or 'near-shoring' supplies, or shifting from 'just in time' to 'just in case' inventory models. However, this shift requires better working capital management. In our latest Bank of Scotland Trade Insights report, Abel Martins-Alexandre, Head of Infrastructure, Energy and Industrials at Bank of Scotland - himself a former corporate treasurer - discusses the importance of corporate treasurers being involved in strategic conversations across businesses. Read more Three reasons why you should consider settling invoices in local currencies Engaging in global trade has business benefits but can be complex. Paying invoices in GBP may seem simpler, but it's often not the best choice. By settling invoices in a suppliers' local currency there can be benefits, including reducing risk, speeding up processes and saving you money. Here's everything you need to know about making international trade easier, faster, and cheaper by swapping from Sterling to using Euros, Yen, or US Dollars instead. Read More Practical tips to help with your import and export journey Understanding shipping, pricing and risk Incoterms Learn how to improve your Environmental, Social & Governance (ESG) rating ESG criteria Ensure you are covered when shipping Transport insurance Tips to prepare your next sales agreement Sales contracts UK Export Academy Webinars, videos, training and more The UK Export Academy is a free online/in-person training programme organised by the UK government's Department of Business and Trade. Its purpose is to support you with the essential knowledge and tools you'll require to sell your products or services overseas. Benefit from three types of events: essential, masterclass and sector-specific, all of which can help to explore global opportunities. Read more DATES FOR YOUR DIARY 13-16 June 2024 BBC Good Food Show Summer Meet food producers, retailers and consumers, find new products, books and places to eat and drink. Discover more 19-20 June 2024 MOVE London World's #1 tech mobility and start-up show, bringing together the people and companies redefining mobility. Discover more 9-12 July 2024 Great Yorkshire Show Celebrating everything agricultural - from livestock to machinery and produce. Discover more Contact Us For more information on our services to help you with your trade journey! The information on the International Trade Portal is provided for general guidance only, and should not be relied upon as specific advice. Security Information Please note that Bank of Scotland NEVER send emails that ask for confidential or security information. Bank of Scotland plc Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 169628. Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all Business customers will be covered.