Import and Export Business

[Gaulkin]

Ive been looking into importing and exporting recently and was wondering if anyone on here had any experience in this field. Im thinking of importing and exporting anything computer related. If you could point me in the right direction that would be great.

[petercn]

I am a computer fan and I am working in a hardware(not for computer, general hardware) company and my company is dealing with import/export businesses, and I shipped some small tools from China to a customer at Sweden.

May we cooperate.

[teabenny]

I've been looking into this myself.

First, decide where best to buy your products from. If you are knowledgeable about trends, you should know where most of the things you are looking to buy are currently being manufactured.

Once you know that - and I mean city as well as country, because manufacturing of a certain item tends to be geographically concentrated - then look up directories of manufacturers/suppliers there. You can also visit B2B sites, as they usually have trade leads too. Then it's a matter of getting in touch with them and seeing if they can meet your needs. Remember, imported goods need to meet your country's specifications (voltage, for example), as well as safety standards and so on.

Naturally, you will need an import permit from the authorities in your country.

And I can't emphasise this enough - get to know your suppliers! Visit them, check out their factories, showrooms, visit them at trade shows. Build up a relationship with them. Take gifts for them. Check them out with your embassy/consulate in that country. They can tell you if you're dealing with a real business or some shady operator with a fake address and cellphone. Ask for references from other customers. If they hedge, walk away. Be on the ground yourself or have someone there to inspect the goods and make sure they get shipped.

Look up the local business register (if there is one) for the business you're dealing with. You can get to know who is behind the business this way.

ALWAYS insure your goods. In the Third World, stuff goes missing all the time.

Be careful when it comes time for payment. Many businesses want payment by wire transfer these days, especially for small orders. From what I can gather, the best way is to pay a deposit by wire, then when your person on the ground confirms the quality, quantity and shipment of the goods, you can pay the balance. Avoid escrow services recommended by your suppliers. And sometime, somewhere along the line, you're going to just have to trust the other party. If you do your research, the risks inherent in this are lessened.

Try and find an export agent if you can. These are people who represent companies that already want to export. Their job is to find export markets for their clients. If you come to them with a ready-made export opportunity, they might be able to match you up with a willing supplier. They expect a comission, of course. The alternative, as described above, is to cut out the agent and find and deal with suppliers directly.

[Gaulkin]

I've been looking into this myself.

First, decide where best to buy your products from. If you are knowledgeable about trends, you should know where most of the things you are looking to buy are currently being manufactured.

Once you know that - and I mean city as well as country, because manufacturing of a certain item tends to be geographically concentrated - then look up directories of manufacturers/suppliers there. You can also visit B2B sites, as they usually have trade leads too. Then it's a matter of getting in touch with them and seeing if they can meet your needs. Remember, imported goods need to meet your country's specifications (voltage, for example), as well as safety standards and so on.

Naturally, you will need an import permit from the authorities in your country.

And I can't emphasise this enough - get to know your suppliers! Visit them, check out their factories, showrooms, visit them at trade shows. Build up a relationship with them. Take gifts for them. Check them out with your embassy/consulate in that country. They can tell you if you're dealing with a real business or some shady operator with a fake address and cellphone. Ask for references from other customers. If they hedge, walk away. Be on the ground yourself or have someone there to inspect the goods and make sure they get shipped.

Look up the local business register (if there is one) for the business you're dealing with. You can get to know who is behind the business this way.

ALWAYS insure your goods. In the Third World, stuff goes missing all the time.

Be careful when it comes time for payment. Many businesses want payment by wire transfer these days, especially for small orders. From what I can gather, the best way is to pay a deposit by wire, then when your person on the ground confirms the quality, quantity and shipment of the goods, you can pay the balance. Avoid escrow services recommended by your suppliers. And sometime, somewhere along the line, you're going to just have to trust the other party. If you do your research, the risks inherent in this are lessened.

Try and find an export agent if you can. These are people who represent companies that already want to export. Their job is to find export markets for their clients. If you come to them with a ready-made export opportunity, they might be able to match you up with a willing supplier. They expect a comission, of course. The alternative, as described above, is to cut out the agent and find and deal with suppliers directly.

Lets say i can just go to any country for free whenever i want how would i go about finding suppliers from home first and then checking them out later?

[Gaulkin]

also where can i obtain a trade license in the united states?

[presto40]

I'd suggest teaming up with someone that has experience in this field. International sourcing can be rather complex and must be approached differently depending on the country of the potential supplier(s). You should definitely be reaching out to potential suppliers first with detailed RFP's, specifications, and documents of understanding. Communication and relationship building are big things when doing business in Asia. This is what I do for a living for an audio-electronics company.

[Gaulkin]

Thanks, where can i get a trade license in the united states?

[syia]

teabenny thanks for the wonderful information..

[teabenny]

You're welcome, Syia.

By the way, you sent me the email for "7 Business Propositions" - please forgive me for being so rude. I haven't replied! I apologise.

They're good ideas, and I think the women's Bollywood-style clothing has huge potential. I'm still weighing this up, but I'm definitely interested in pursuing this further. Plus, it possibly means a visit to beautiful Malaysia!

Looking forward to talking to you soon.

[adamwade]

Consider a trip to the Canton Fair. It is the largest gathering of factories exporting products from China.

If you want to be in the import/export biz a week at the fair will help you build the database of contacts that you need