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Post Info TOPIC: import and export


Guru

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import and export
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is import and export a good profession / career to go into?

is it wise to go into this during recession?



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Thanks, Nadia.



Expert

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I suppose it depends what you are importing and exporting?

Any more details?

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Amanda



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This has come from a discussion I had earlier with someone who is thinking of importing electronic items into the UK from the far east

My thoughts were that it would be difficult to make a success from importing items into the UK - due to recession....

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Thanks, Nadia.



Veteran Member

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Can be very profitable, can be very loss-making.

Import of anything from Asia is fraught with issues of quality control, duties and sometimes quotas, but first off has to be a market for these "electronic goods"??

Do you have a confirmed market/customers who want these goods and do you have a reliable quality manufacturer in Asia for them?

If yes to both and you have checked that no customs quotas exist that would prevent import, plus done your costings correctly (shipping, clearance, duty, VAT on entry, warehousing, distribution & marketing etc), then yes you can make a good profit but you are always at the mercy of exchange rates too as the Chinese will invariably sell in USD.

We import cosmetics packaging from China and sell into European fillers and have (or had) a good margin, but I've been in that business for nearly 30 years working for some of the largest manufacturers in the world and therefore have a library of good reliable factories I have had relations with for up to 20 years, plus a customer base I again have known for 20 years.

Hope the someone makes good, but do caution them that the recession should be the least of their concerns.

Ridesy

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Newbie

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I guess it depends on whether you have a potential market for your products. Perhaps you should have some sort of feasibility study first before investing on such business.

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