- 10 May 2022
how to avoid loss in the field of import and export ?
Nobody likes to lose, and before you start your journey, you should consider some tips to avoid loss in the field of import and export
The first step is to have a deal with a trusted legal accountant, who will help you know the steps and documents needed to open a company with legal foundations, making it easier for you to enter the field with confidence
Try to come up with a name of the company which is related to the field and easy to pronounce in different languages so that it is easy to memorize and circulate among customers
The second essential step in this field is to open a bank account for your company, so that all financial transactions are done through it
Now you have the basics and you are ready to start the journey of success and we are pleased at Bawabat Al Sharq to be the partners of that journey through our distinguished services
Tips on how to avoid losing in the field of import and export
- Prepare a well-studied plan for the market and learn about all the products that your country is famous for, and their quality and price compared to the global market.
- Make a good research on the countries that need these products, how close they are, and the shipping rates for them.
- These two steps will qualify you to know the products that you can export outside your country, all you need now is to contact the authorized shipping agents to find out what is required to complete the export process.
- You have to be aware of the market’s needs, also, you must know if there is someone who imports them, and what is the cost of importing them?
- Now you need to know the locations of these products and the countries with the best price and highest quality.
- Also, you need to know if you can combine high quality and good price, or you need to choose between the two advantages according to the needs of the market!
- Already you now have the necessary information to start the first import of your starting company, contact the authorized freight forwarders and complete the process successfully.
- While choosing the countries to which you will export or import, try as much as possible to choose the closest or least in shipping costs.
- Don't mix your goods with other companies' goods in the same container, having your container will make them cheaper and safer.
- Importing and exporting food products is an arduous and psychologically stressful task, as you are under constant pressure called the expiration date and the provision of appropriate climatic conditions for food commodities.
- High temperatures, power outages in freight refrigerators, or delays in goods at customs, all of these may damage products and expose you to loss.
- So make sure to deal with reliable shipping companies and know how to value the time.
- Whatever product you are going to export or import, you must make sure of its validity date, and its compliance with international specifications so as not to fall prey to customs and health inspections.
- You can refer to the exporting or importing company (the second party) to find out the required specifications according to the law of the country you are dealing with.
- Each country has its laws, and your products may be welcomed in one country and rejected outright in another because they may consider those products to violate the law, which will make you face fines and legal prosecution.
- Make sure to put enough time into the contract while calculating all the considerations and possibilities that could happen suddenly.
These are the most important tips that will definitely help you in the market.