Commonwealth Greater Birmingham


Commonwealth Chamber of Commerce Contact: Jamila Davis T: 0845 6036650


Commonwealth Chamber Patron


Why exporting can be a risky business


By Keith Stokes-Smith, president of Greater Birmingham Commonwealth Chamber of Commerce


Exporting companies need to ensure they are aware of the potential risks involved in trading with certain nations – as well as individual companies – which may have a track record of bribery and corruption and other fraudulent issues, such as intellectual property theft. Whether it is trading with any of our


Commonwealth fellow nations, outside the Commonwealth or even in the domestic market, there is something all businesses should do before getting too contractually committed, which is to research their potential client so as to be aware of, and ensure minimisation of, risk. That means researching the people, the


companies and the countries the business proposes to trade with. Sadly, for example, some countries have a higher propensity for bribery and corruption. Is the exporter sure a proposed business


relationship won’t breach the UK’s Bribery Act, the most powerful law of its sort in the world? Fall foul of it and someone will likely find themselves in trouble, which could lead to criminal convictions and the potential downfall of the business per se. Hopefully, Chamber members seek


information and advice from the international


trade advisers based at the Chamber, in an endeavour to mitigate risks. The GBCCC itself is currently working on a


Commonwealth fact sheet, which will include information about business culture and practises in commonwealth countries, but this just touches the surface of risk management. There is far more to risk and compliance than this. Business does and should do its own


research/risk analysis, but this becomes more challenging when researching an overseas business or individual.


‘The bottom line is that any business, large or small, needs to know who it is dealing with’


Firstly, focusing upon individuals, a business


will want to know if the individuals they are proposing to trade with play fair and are honest. Some issues are obvious, and include looking at a company’s background and whether they appear on international sanctions or criminal watch lists. But there is also social media – have they misbehaved online? Secondly, the business will need to spend


time scrutinising the client business itself. The information required here will range from its relationship with its home government, how it is regulated, what its history is and whether it has robust codes of conduct.


Thirdly, does this business reside in a high


risk country, and what is the UK Government’s advice on trading with this country? Doing one’s own risk and compliance research sounds time consuming, but it is a case of making the time to do it. There are third party businesses which can


do much of the above for its client, and certainly, if time is more valuable than money, this route could save a lot of headaches. The bottom line is that any business, large or


small, needs to know who it is dealing with. Certainly, small to medium enterprises (SMEs), who probably can least afford to pay a third party to do the research for them can equally ill afford to suffer the consequences of not having it done. The GBCCC has a range of members from


different sectors who specialise in this area and it is no coincidence that I wrote this article having recently met with one of them. It is an important area when trading


overseas and one we have already alluded to in previous articles. Expanding upon it is well worth an article in its own right, and this will be addressed in a future issue of Chamberlink.


Games will create new home for students


Birmingham’s redeveloped Alexander Stadium will be turned into a home for up to a thousand Birmingham City University sports students, as the city council bids to find a sporting legacy for its Commonwealth Games. The stadium is currently the subject of a planning application ahead of a proposed £72m refurbishment for the 2022 Games. The student scheme follows a broader plan to use facilities built for the Games to regenerate Perry Barr. As part of this, there will be some 5,000


homes built in Perry Barr and north west Birmingham, of which 1,400 will begin life as the Commonwealth Games Village. There will also be a number of infrastructure improvements, including a new public transport interchange, a ‘Sprint’ rapid transit service and new facilities for cycling and walking. Birmingham City University will occupy a


three-storey facility in the newly-redeveloped Western Stand at the stadium. Hundreds of staff


and students from the university’s sports and exercise courses will move to the venue following the Games. University vice-chancellor Professor Philip


Plowden said: “The sport programmes at Birmingham City University are some of our fastest-growing, and we are delighted that we will be making world-class facilities available for our students. “Birmingham City University is hugely excited


Aiming for a sporting legacy: sports students Monique Pascall and Ryan Webb with Philip Plowden (second left) and Ian Ward at Alexander Stadium


about the Commonwealth Games coming to Birmingham and the opportunities which they will afford to residents, businesses and visitors including our staff and students Working closely with the council in this way will help secure the legacy of the Games, and to ensure these opportunities will continue beyond 2022.” Council leader Ian Ward said: “This exciting


new partnership with Birmingham City University brings a new and meaningful purpose for the stadium.”


October 2019 CHAMBERLINK 45


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