Unit 43-LO3 Determine the importing and exporting process and the practicalities involved-BTEC-HND-Level 4 & 5
Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business
The importing and exporting process is a complicated one. It involves the country of origin, the country of destination, and all trade regulations that are in place for both countries. If you’re considering this as your next business venture, it’s important to know what you’re getting into before making any commitments. I’ll discuss some of the most common aspects of import/export businesses today.
The rationale for importing and exporting for SMEs:
What are the considerations when importing and exporting?
There are both national and international laws that regulate the import and export of goods. The exporting country has to agree to the importing countries’ requirements, otherwise, it is not possible. Generally, a detailed declaration including a list of imports is required by the importing country regulatory agency before any goods can be imported.
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It’s well worth contacting your destination country (the one you want to bring your goods into) for their specific regulations as we can’t cover every eventuality here. But generally, requirements range from proof that animals are being brought in at an appropriate age for slaughter (usually six months old) through health checks on importers and exporters plus food safety certificates if eating items are being imported or exported.
Securing an import or export deal
A good way to secure an import or export deal is by using a customs broker. The customs broker can help you get your own EAN code and help you ship internationally through major shipping ports such as NY, Delhi, Guangzhou, and many others with benefits such as door-to-door delivery services.
Knowing the intricacies of the requirements specific to each destination country is a key factor for any potential exporter who wants to succeed in this industry. At CRB we specialize in helping aspiring businessmen overcome these difficulties by providing guidance and expert advice on relevant international trade laws, legislation, and regulations that affect exporting from their local area.
Merchandise importing and exporting
There are two purposes to merchandising. One is to create demand from customers, and the other is to distribute goods in order for supply to match with demand.
The first way makes use of advertising campaigns and discounts as well as well-targeted distribution channels; while the second means designing a production plan according to all potential market demands.
It’s difficult for many small businesses without sufficient capital or experience, but it’s ideal in regards to tasks such as making clothes locally and internationally or distributing stocks domestically or overseas. There are also export agencies that can lend some help when dealing with different restrictions at customs checkpoints like tariffs and other expense items on either side of the trade process. However, logistics should be taken into consideration before setting up an import or export business.
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Many exporters base their operations in free trade zones that are usually located near major international ports and airports. This gives businesses easy access to potential customers as well as tax incentives.
Service importing and exporting
Service importing and exporting is the international division of the services industry. Notification – An authorized government agency monitors or controls imports and exports. If you are planning on conducting service importation, here is a breakdown of what a firm would need to do next if considering Canada as an export destination:
Petitioning for eligibility to be recognized by the Government of Canada and learning about all entry requirements. Obtaining any necessary permits according to trade agreements with other countries, rules from both countries, quotas imposed by one country that limit imported goods coming in from another country.
Licensing rights are a delicate issue especially because we all have different opinions about what should stay private and what should be sold.
I think it’s everyone’s personal choice on the matter. I prefer to tell myself that the money I make from my hard work will go towards things that make me happy- as long as it isn’t something unethical like drugs or weapons, of course- so no one can really tell me how to spend my money. In fact, I could even donate large sums to charities if I choose to do so without any judgment whatsoever.
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