How to Start an Import Export Business From Home

Import export or an international trade is nothing new; instead it is almost as old as the human civilization itself. Starting from the prehistoric age culture of selling goods from tribes to tribes to the middle age culture of the silk route to the present day culture of outsourcing and international open market… import export business is always important for maintaining a sound economy.

Statistics

Are you like several thousand people who love an international trade and want to give it a shot but do not simply because of the fear of the unknown? Well, business is all about that. And it always pays the best to the most risk taker. Still not convinced? Let’s present you some statistics.

The US is the 2nd largest business entity in the world that dealt with approx $2439700000000 worth of trade with about 150 countries in the world only in 2009. But here is the truly amazing part. According to the US department of Commerce, big corporate giants constitute only 4% of this industry. So the remaining 96% has to be controlled by people like you, if you accept the challenge.

How to Start from Home

With the internet, it’s easy today to start such a business from today. There are a few steps to it, the first of them being: learn a bit more. A good homework and import export training always results in the best. Go through commerce and economics materials (at least for a light-reading). When done, your next job is to register your business with the government.
Then obtain the appropriate trade license. This job, though tedious, may be essential, so look into the matter and do your research on import export course to know about the right licensing to avoid double-work.

Now is the time to open a business bank account. You may also need a funding. If not (or when done) choose and buy an accounting software, design your business logo, legal advising, buy, create and design your own website etc. and other services. It is also best to choose the product to trade and research out all about the duties, licensing, taxes and import export regulations.

It is always a good import export advice to gather as much information about something before participating in that. Like all other things in life, this is also true for international trade. Also the import export business is not for everyone.

Unorganized, lazy people who just want to make some quick money are not welcome for this trade and will end up being poorer than before. This is the kind of profession that is for the enthusiasts, potential salespersons and people able to take calculated risks. If in addition you love the thrill of dealing with people from different countries and cultures, this may be the ideal job for you.

How to Start an Import Export Business

Today’s difficult times has lead many people into starting up their own businesses. This might probably be due to the fact that the global economic crisis has caused many industries to shut down, causing many people their jobs. On the other hand, some people may actually think of starting a new business because they feel that there is a need to do it. In other words, the concept of the business is very appealing and feasible.

One of the businesses that have been gaining a lot of popularity lately is the import export business. In fact, the import export business is even very rampant in the worldwide web. This popularity may be a good sign that this type of business will surely thrive, but nonetheless, one has to carefully consider the factors that will contribute to the success of an import export business.

In starting up any business, a feasibility study is very important. Thus, just like any other businesses, a feasibility study should be done first in order to guarantee that the business is going to fare well in the market. It is not always the case that an import export business will do well in your area or country as in other areas. It does not always follow that if the business is doing well in other places, it will also do well in particular places. Thus, before starting up the business, it is always important to conduct a feasibility study.

Another important factor is marketing. No business is ever successful without a good marketing strategy. Indeed, this is true; after all, who would probably patronize your products if nobody hears about them. As such, it is very important for an import export business to devise an excellent marketing plan. This is not going to be a problem though because in the import export business, there are many possibilities on how to promote the products, most especially with online technology. Marketing products is no longer difficult with online marketing since it covers practically all corners of the world.

Complying with government rules is the third factor that is very vital in starting up an import export business. You must remember that one of the most important things to consider in this type of business is the particular rules and policies of the country that you are doing business with. The critical thing about government rules is that these rules often times vary from one country to country. Thus, it is important to study and follow all government rules of the particular countries that you are trading with to avoid problems that could lead to trading restrictions.

Finally, the movement of your goods is also very important. The success of any import export business also lies in the credibility of its logistics. While there are many logistics companies around, it is very important to employ the most credible and the most cost effective. Although, the faster delivery would cost you more money, there are certain times when you really need a faster delivery. However, for goods and products that do not need to be delivered the soonest time possible, you can settle for the less expensive logistics services.

What To Watch Out For In The Import Export Business

International trade is nothing new. It has been in existence even before the civilization of man. Although trading today is not like the olden times when large caravans of silks and spices cross the Mediterranean and the Pacific in wooden ships and boats, in essence it is still practically the same. Trade exists because a particular group of people have an abundant supply of products which others insufficiently have. Thus, in order to address the insufficiency of one group of people, the other groups should supply these needs,and vice versa.

Today, the idea and concept of trading has been technically laid out in terms of rules and policies. Unlike the old way of trading where people can just trade products right then and there, various rules and policies have been implemented for the protection of both parties in a trading partnership. Indeed, trading has revolutionized as the world becomes more technologically advanced. In fact, trading is even done over the internet nowadays. With the advances in technology, it is not surprising why international trading becomes more rewarding.

The import export business is not just any ordinary business. Once taken seriously, this can bring in a lot of money. Moreover, aside from the monetary compensation, the import export business is especially personally rewarding. These are probably some of the reasons why a lot of people are getting interested in this type of business more than any other businesses.

So, how should you do an import export business? Furthermore, what are the important reasons that would entice you to do the business? While there are probably a dozen or so reasons why people invest in the import export business, here are some of the most important reasons:

Insufficiency. Reality bites. There are just some things that you cannot produce or grow in your country. Thus, when this is the case, the only solution is to import these unavailable products and items from other countries. After all, why should you be deprived of the abundance of others? Therefore, for products and items that cannot be found in a particular country, there are always other countries that can easily supply these items.

Seal. In contrast to insufficiency, other home countries have an abundant supply of various products and items. In fact, there are even products that are just indigenous to a specific area. The abundance of these products to a particular country marks the seal of the product to the particular country. In other words, products are tagged to places and countries where these are abundantly and locally found. One good example is Indonesian wicker furniture, Arabica coffee, and Japan’s green tea.

Cost. Although some countries may be abundant of a particular product, the production costs for the product might be very expensive. Thus, these products are exported to other countries where the production costs are cheaper. When this happens, even if the product is abundant in your country, the same product is actually cheaper when imported from another country. Therefore, for economic reasons, it is advisable to import these products rather than obtain these from the domestic front.