The Import Export Business

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International trading, otherwise known and the import export business is one of the most popular ways to make a living these days. Companies in the United Stated trade more than 2.5 trillion dollars each year in goods and services. Of this amount, small businesses control more than 95%. When you are the owner of a business that imports and exports goods and services, you can work as a distributor and focus on importing and exporting the goods and services that are less expensive when they are imported from other nations, such as electronics from China or can’t be gotten on this country such as French perfume and Russian caviar. Also, you can start an export management company (EMC) that will allow you to assist existing businesses market their goods and services in foreign nations through the arrangement and the storing and shipping of the products for them and not do any of the actual selling. EMCs can work or specialize with different kinds of manufactures in the import export business. You might also work as a broker for a business and work on commission for the actual sales. This is a wonderful opportunity for the businesses selling goods and services that are guaranteed to sell as a result of the fact that they are an established brand name or they are so much in demand.

For the past two decades, China, Japan, Mexico, and Canada have been at the top of the list of traders, although any country can provide great opportunities for import export business. The countries in South America and in the former Soviet Union have also become primary traders in the past few years. However, these countries still have a lot to learn about trading in these new markets.

In order to open an import export business an individual will need an initial investment of about $5,000 or more, depending not only on if the individual wants to work out of a rented office that requires the hiring employees and overhead or a home but also on the kind of goods and services that the individual is going to be promoting and selling. These startup costs for import export businesses are very inexpensive when compared to other businesses. However, these startup cost may be significantly more expensive if the import export business is going to be dealing with specialty products that are considered high risk like pharmaceuticals or firearms that might require special permits from the government. However, most products can be exported without the need for any licenses.

When starting the business the individual should call Consulates and Embassies and also consult with the Chamber of Commerce in small cities or the local Board of Trade in large cities to determine if they have import export programs already in place. Many embassies already have special departments that will promote the export of their products to other nations and will gladly help potential import export businesses.

Click here for more information about import export and wind turbine manufacturers. Author: James Keyes

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