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Korean: 한국 고객을 위한
Voted Best Answer
Sep 25, 2018 - 03:15 AM
So, you are contemplating entering the world of global trade by starting up your import/export business, think hard about the following questions while you do your research and you will understand for yourself if you are ready to jump in:
- Are you ready to start a business? What makes you think you’ll be successful at a 24x7 job, which is what a business is?
- How much capital will you invest? How much of it will be self funded? How much will need financing?
- How much do you expect to earn by investing this capital in your import/export venture?
- Will you be doing this on a part time or full time basis?
- Will you primarily import, export, or both?
- Will you work as an agent (to earn commission income) or a merchant (to buy and sell yourself in bulk)?
- What type of company will you setup? Limited Liability Corp? Proprietorship? Partnership?
- How will you create a website for your business? Will you need to outsource this?
- What type of products/commodities will you choose to deal in?
- Who will be your suppliers? What companies will you deal with? In what countries? How will you find them?
- Who will be the consumers/end users and buyers of your products? Where will you find them?
- How will you handle distribution? Set prices? Promote yourself and your products?
- Which method(s) of international payment will you use?
- Which means of international transportation and insurance will you use? Which shipping terms?
- Who will be your bank? Your insurance company? Your Customs broker? Your freight forwarder?
- Which local and foreign government regulations will you be concerned with?
- What sources of information and assistance are available as you begin and as your business grows?
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