One of the most popular and rewarding industries of modern day society is the import/export industry. If you have the motivation to succeed in business, you may want to start an import/export business.
If you start an import/export business, you could, for example, import custom-made light fixtures and export paper materials. The possibilities are endless if you start an import export business. If you want to start an import/export business it is important to think about which type you would be interested in.
There are several types including an export management company (EMC), an export trading company (ETC), and an import/export merchant. An export management company is a business that usually specializes in a single product and handles all the export operations for a domestic company that wishes to enter the market overseas.
An export trading company focuses on learning what foreign buyers want to purchase and then locates domestic sources interested in exporting. Finally, the import/export merchant does not specialize in any single industry or product and therefore does not have a specific client base.
According to the U.S. Department of Commerce, the import/export industry is a 1.2 trillion dollar a year industry. When an entrepreneur wants to start an import/export business, they have the world at their feet. Everyday thousands of products are traded globally.
One can import and export anything from food and beverages to jewelry, furniture, and clothing. Anyone in the import/export business will come to find that the demand for certain imports or exports can change quickly. For the savvy trader, any product can become part of the global merchandise inventory.