| With the advent of the internet, this has enabled | | | | quality of goods, and this will require trust in the first |
| importation of goods to become ever easier. There | | | | instance. Again, make sure that you do not place that |
| are literally hundreds of websites offering goods from | | | | huge order and then end up with goods which have |
| a variety of countries including China, Thailand, Taiwan | | | | limited or no value. |
| and a whole host of other nations. Here we will | | | | You also need to understand the trade process. |
| discuss the process of importation and some of the | | | | There are lots of little rules around when the goods |
| things to look out for. | | | | become your responsibility, and basically the further |
| You can get ripped off. Unfortunately, because of | | | | that the goods have to travel the more expensive |
| the nature of the internet there are constantly new | | | | the process will be. Therefore if they are being |
| website offering ridiculously cheap goods, which | | | | shipped, do you have insurance? Do you have |
| sometimes will not exist. Due to the nature of the | | | | enough cash to pay the import duty that is payable? |
| "World Wide Web", it can be extremely difficult to | | | | All of these things need to be factored into your end |
| close these websites down. However, as the world | | | | price. Plus what happens if the ship sinks and you |
| becomes increasingly global it is likely that in the same | | | | could potentially have lots of disgruntled customers, |
| way there are trade legislations that apply to a | | | | would you have enough cash to run the process |
| variety of countries in relation to the trading of good | | | | again? |
| or services, this will also apply to the internet. | | | | Currency fluctuations could also reduce the margin |
| So what can you do to minimise this risk. I would | | | | which you may have on the products, so make sure |
| personally start by going through either World Trade | | | | that you have factored this in to your costings. |
| Centre's or Chambers of Commerce. These | | | | Research is key. Make sure that you understand the |
| organisations are tasked with increasing trade levels | | | | specifics of the product which you are buying, even |
| between countries, and therefore will be able to | | | | simple things such as a UK plug on the product will |
| offer an opinion on several companies which are | | | | make a big difference to its value. |
| reputable, which will be able to offer the goods or | | | | There is a lot of money which can be made through |
| service which you require. You may pay a premium | | | | the importation of goods from overseas, and this is |
| doing things through this method, however, if you | | | | one of the biggest markets in the world. There are |
| have little or no experience of international trade this | | | | also lots of variables. You need to consider all of |
| is probably a sensible starting point. | | | | these and make sure that you are completely |
| If you are like many people, impatient, and just want | | | | comfortable with the whole process, then proceed |
| to get the show on the road, place a small order | | | | with caution to begin with, and step it up a gear |
| before doing a larger one. Its very common that | | | | once you have proved the process. |
| businesses will ask for samples, to test the quality of | | | | There is certainly something exciting about becoming |
| goods, so this can be a sensible starting place. Also, I | | | | an importer of goods, and clearly it has the potential |
| would recommend reading any reviews of the | | | | to offer travel overseas to some exotic locations. |
| company which you are considering dealing with. | | | | There are lots of businesses that make their money |
| Quality of goods is important. You need to make | | | | this way. |
| sure that you are receiving the highest possible | | | | |