Businesses offered advice on reducing risk abroad

A new service has been launched to help UK companies learn about the security and business risks in 90 markets when working abroad.

The Overseas Business Risk service is particularly aimed at giving SMEs the information they need to help them do business abroad safely and successfully.

Overseas Business Risk, launched on 12 July, is run jointly by UK Trade & Investment (UKTI) and the Foreign & Commonwealth Office and is accessible through the UKTI website.

Profiles available for 90 markets all over the world will cover aspects like the risk of cyber crime, corruption, bribery and theft of intellectual property. It will also provide, in one place, links to authoritative information from across government.

Foreign Secretary William Hague said: “The success of British firms in markets overseas is essential to our nation’s economic recovery and we want to encourage more businesses to export.

“Many opportunities exist in markets overseas, but we know that risks can accompany opportunity. Companies need support to address such risks, including those relating to corruption, security and rapidly growing threats such as cyber crime.

“Our new Overseas Business Risk service aims to help business manage these risks by providing information on over 90 markets.”

The service forms part of the FCO Charter for Business, which helps business to identify and pursue new opportunities while managing potential pitfalls.

LINK: Overseas Business Risk service