Technological advances and the fast expanding world of international trade have made the world a global market. No more do time and distance dictate the terms of international trade as is obvious from the number of deals and trading options that make it possible for a small village in the remote regions of Sri Lanka to have a constant supply of Coke and Pepsi!
Giant corporations with a local presence the world over really do not face problems with effective marketing, or delivery systems or even when it comes to keeping the demand and supply chain going. But the buzz word in international e-trading today is small.
Indeed as the world of business expands the investor or businessman is really the common man who prefers sitting in the comforts of his home or office while conducting business.
Small business owner and importing
Whether it is products or services, the Internet has made it possible for the small business owner to carry on a successful and lucrative business eliminating the need to leave his home or country for that matter.
So if you are a small business owner and are interested in setting up your own importing business then you may find the following tips useful:
Tip #1
When importing goods and services from other countries, your first step should be your countries embassy or consulate in the foreign market you plan on importing from. Trade commissions set up in these countries are geared towards providing companies trading information like, potential buyers and market data.
You can send them a fax (preferable) or email enquiry asking for information. These are what a typical inquiry fax or email should contain:
- Company contact information
- Product and service description – giftware, leather accessories etc.
- List of potential suppliers
- Additional information like market trends, trading directories etc.
Tip #2
As a small business owner you more than anyone understands the importance of going online and conducting specific research on the products and services you are interested in importing. Trading sites, company websites are the best places to start with your research.
Again ask for specific information useful to you. You don’t have to go with the age old thinking that big sells and that is where the profits are. You are a small business owner and small is how you should start.
Find out all you need to know about regulations or quotas etc. before going ahead with an action plan. Look up for discounted deals on goods that are in demand in your country and zero in on importing them. However before you do that, make sure you ask for a sample which will give you a good idea about its look, color and any other added feature.
Tip #3
Get in touch with non competing companies and business owners in your area or market and see if they can provide you with names or leads on potential suppliers. In most instances they will be more than glad to volunteer information. Returning the favor is how mutually beneficial business partnerships and relationships are forged.
Tip #4
Get in touch with government departments offering information and or programs on importing from foreign markets. They are also in the position of offering you legal and commercial information specific to your enquiry and business needs.
In addition to all of the above, you need to be sure that at all times any and all forms of communication, written or verbal is clear and concise before you make any plans and deals. The success of your business may well depend on it!
|
