When exporting, Small and Medium-sized Enterprises (SMEs) often need to engage local representatives to help them win contracts. 

However, some markets carry increased corruption risk that may put a company into uncharted waters. The UK Ministry of Justice Guidance on the UK Bribery Act 2010 advises SMEs on an appropriate and proportionate risk-based approach to assess and mitigate their exposure to bribery.

SMEs should not only be aware of the potential impact of the Bribery Act but of legislation in other jurisdictions where they operate. If they transact in United States Dollars, they may unknowingly be subject to the US Foreign and Corrupt Practices Act.

Leaving aside the penalties on conviction, even an allegation can be damaging to both business and personal reputations. As well as the unbudgeted costs of additional accountancy, legal and IT resources, an allegation may impact business credit scores, affect the ability to secure new finance or business and for listed companies, create share volatility.

By demonstrating they have adequate knowledge and supervision of their partners, SMEs can show they conduct their business affairs in a clear and commercially advantageous manner.