Import-export is a challenging playground in many’s book. Supposed you’re just starting out, or even if you’ve got an established small or medium-sized enterprise (SME), the idea of getting your business “going global” can seem daunting.
You’re not alone. Micro firms and SMEs account for almost 95% of businesses in most countries, but they’re only exporting about half as much (proportionally speaking) as the large manufacturers. That’s mainly due to some misconceptions about global trade.
MISCONCEPTION 1: It’s super expensive.
FACT: Thanks to e-commerce, importing and exporting is more affordable than ever.
With online solution providers like Boxme, you don’t have to travel around the world to find buyers or sellers anymore. Simply create a free account, list out details of your own products to sell, and you’re off and running.
E-commerce, convenient as it is, can’t possibly eliminate all costs involved in importing and exporting (tariffs, shipping, insurance, etc.). That said, you can still tailor a deal to meet your needs, potentially avoiding most of the extra cost.
MISCONCEPTION 2: It’s logistically difficult.
FACT: There are many tools and people who are ready to handle the heavy-lifting for you.
According to the World Trade Organization’s 2016 Report, governments around the globe are more than willing to help SMEs engage in global trade. That’s because they see the tremendous potential for it to stimulate local economies.
- When you’re first beginning to import, reach out to the Commercial Counsellor at the Embassy of the country you want to import from.
- For exporting, an international trade consultant can help you sort out the best way to meet all legal requirements of your buyer’s country, all the while maximizing your profits.
- Search online for your nearest Embassy and international trade consultant group. You may be surprised at how much information is available.
MISCONCEPTION 3: You must buy and sell at high volume.
FACT: There are times when small volume trade makes sense.
Don’t dismiss the possibility of running an international business just because you’re not yet ready to trade in volume.
- For importers, it can save you tons of money over the long run to purchase samples or small quantities of products in order to test their profitability in your local market.
- For exporters, some courier companies such as DHL and FedEx can help get your small batches of goods from point A to point B relatively quickly, easily and cost effectively.
And remember, there are many other SMEs – like yours – who are just as eager to dabble in importing. They are the perfect partners for small batch trading deals.
In summary, there is a common perception that international trade is a big corporations-only playground.
But knowledge is power, and now you know: your business is just as global-capable as any corporate giant. Use this knowledge as the pedestal to catapult your business to higher profits and broader reach.
If you have any question about Boxme Asia or how we can support your business, please contact us directly by referring to our hotline. We are glad to be of service!