International Trade

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Bribery Abroad - It's Worth The Risk?

15/07/2010

By John Burbidge-King, anti-bribery expert and CEO of Interchange Solutions

The election is over and the dust is now settling as the new coalition Government gets down to the business of sorting out the UK economy. On the 14th of June, the growth forecast of the UK was revised to 2.6% from Labour’s higher figure of 3.5%. It means there is there is even greater pressure on the both private and public sectors to balance the books and public purse - generating income for the economy whilst reducing costs.

With the UK economy still firmly in the doldrums, many businesses with the ability to do so will be looking for contracts abroad. The strategy makes perfectly logical sense. With the exception of unusual one off contracts surrounding major events such as the Olympics, the UK is not a particularly attractive place to forage for new business right now, neither in the private or public sectors.

With other markets around the world coming out of recession faster, savvy companies in the UK will be hunting on foreign soil to help them sustain their business and growth.

However, UK businesses are not alone as other companies in other countries around the globe are also on the lookout for export opportunities. This inevitably means that competition is higher which places even more pressure on businesses and the agents representing them to secure lucrative contracts.

But how far is your business willing to go to secure new contracts? More importantly, how far are your agents willing to go to secure new contracts? As the saying goes,... continued on page two >

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