6 Common Mistakes in the Import & Export Business [Infographic]

6 Common Mistakes in the Import & Export Business [Infographic]

Do you speak Chinese? Have connections in Brazil? Have you lived in Hong Kong? Or you simply want to participate in global trade and be part of the most important sector of your country’s economy.

In the import-export industry, you can use your individual competitive advantages to serve as a matchmaker or middleman for companies in your locality.

Being an import-export merchant means buying merchandise from a manufacturer – foreign or domestic – then reselling those goods around the world. Although this kind of venture might seem complicated at first, one can efficiently build wealth from it given that he/she posses the right skills and knowledge about international trade.

As soon as an import-export business starts operating internationally, there are many additional factors which can have a big impact on its success. Exporting and importing goods are not just the backbone of any large, successful companies; it is actually the core that helps national economies grow and expand.

To run an efficient and successful import-export business, there are some pitfalls which you need to be aware of. To find out what these pitfalls are, check out this infographic from Excelsior Worldwide Logistics which discusses the common mistakes in import and export business.

Author: Victor G. Hermosa is a well-experienced Licensed Customs Broker. He started as a Principal Broker in one of the leading freight forwarding company in the Philippines. Currently, he is the owner and manager of Excelsior — a Total Logistics Company that handles International Air & Sea Cargoes, Customs & Tariff Consultancy, Declarations of Duties & Taxes, and Customs Clearance.

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