What is Import-Export Business?

Import-export are important areas of business. When a person or a company buys goods like groceries, farm produce, textiles, machine parts or even crude oil from its own country and dispatches them to other countries for sale at a higher price, it is called export. When goods and raw material are brought from other countries to sell in one’s own country keeping a profit margin, it is called import.

Both kinds of trade depend on the internal productions of a country whose surplus is sold in the foreign market. A share of the profit coming from the sale of a country’s products also goes to the national treasury of the country. So both import export are important for a nation’s economy.

International relations too have a great impact on import export. If a country is not on good terms with another which is a prospective buyer of the former’s products, there evidently can be no business. After the 9/11 carnage the US had put embargo on trade with some Islamic nations that had been allegedly involved in planning the terror.

Import export data in this system of international trade show there is also competition among all importers. So the quality of the products is never compromised. If the quality of the item for export is poor it turns suicidal for the exporting country’s economy as it may permanently lose its market by damaging its reputation in the international trade circuit. Import export shows India’s jute usually has a tough competition with Bangladeshi jute, which is usually superior in quality to the former. Previously, there had been cases of the sale of inferior quality Indian jute in the international market. Consequently, India’s sale of jute suffered a drought for several years.

When starting an import export business it is most important to first collect statistics and buyers suppliers data to help you decide the product and the country you will be dealing with. The first step is an in depth research in all areas of business and customs shipment data will be of great help. Identifying the market and the product are the two most basic decisions to be made at the beginning. Research and planning with the available customs data confirms a successful business venture internationally or domestically.

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.