The gaming industry was once considered a hit-or-miss arena, according to financial experts and investors. As the target audience grows far beyond the usual demographic, more people are taking the time to consider investing in the $100 billion-dollar global gaming industry. For up-and-coming gaming businesses, the need to integrate into foreign countries is more important than ever, as well as the need to consult with reliable international trade finance companies.
What is International Trade Financing?
Trade financing is useful for any company that needs funds to carry out their international trade operations. This financing allows the company, or supplier, to meet the growing demands of their customer base through export factoring or full supply chain finance.
With international trade financing, the money provided to a company covers the cost of meeting the needs of global customers as they try to continue the sales cycle without any delays due to lack of funds. Examples of these delays can be unpaid invoices or disruption of shipments.
Trade financing can be beneficial to both new and experienced business owners. The size of the operation doesn’t matter. Small businesses and major corporations alike can benefit from these forms of financing.
How Can Export Factoring Help the Gaming Industry?
The best way to watch your gaming company grow is to expose your product to as many interested customers as possible. When you don’t sell internationally, you are missing out on a potentially huge profit. Unfortunately, many gaming companies, especially those just starting, cannot afford to meet the massive demand of international customers once their new game or product takes off.
Export factoring can help the gaming industry by supplying your gaming company with the funds needed to create, package, and ship your games to customers in foreign countries. This process can cover the cost of accounts receivable payments where the customers still owe money. It can also help with short-term debts and working capital finance, which is useful in daily trading operations.
What Should All Gaming Entrepreneurs Know About Trade Finance Companies?
There are three key points that all gaming businesses should know about the services offered by trade finance companies.
Export Factoring and Supply Chain Finance are not Loans
When a company receives money from a trade finance provider, such as Tradewind, they should be aware that this isn’t a loan. And the exchange of money isn’t financial debt. Instead, it is a representation of the actual sale of your receivables or payables. When the invoice payment is due, the buyer in the transaction pays the trade finance company the invoice amount.
Export Factoring and Supply Chain Finance are for All Types of Businesses, Large or Small
Regardless of the size of your business, you can benefit from export factoring or full supply chain finance. This solution to your gaming company’s cash flow issues can offer the support you need to keep up with demand from your international distributors and customers. It helps you pay your incoming invoices as you wait for payment of your outgoing invoices or direct sales of your product.
No Bank is Required to Get Started
There is no need to have a bank involved in an export factoring or a supply chain finance transaction. All transactions are handled through the trade finance company. The process can start without the participation of a bank for funding. It is one of the simplest and easiest methods for gaming companies to get the funding they need to ensure all international sales go well.
Learn More About How the Best Factoring Companies Can Help Your Gaming Business
If you are the owner of a new or well-established gaming company and want to begin selling your product internationally, you can benefit from the assistance of a reliable trade finance company.
Tradewind is available to help you get your new gaming business started with international sales or get your current brand into the hands of foreign distributors. Tradewind provides innovative solutions like export factoring and supply chain financing to meet your company’s specific needs and the requirements of your location.
There will be circumstances where your gaming company doesn’t qualify for traditional banking services, but, by working with Tradewind, that won’t stop you from getting the financial assistance you need. The international trade finance company offers a wealth of useful services, including collections, dunning, and bookkeeping, for all types of companies.
Tradewind can be your one-stop solution for all your international trade finance needs. Consult with them today for more information on how to broaden your gaming business and distribute your product to a global audience.