How To Start Your Own Export Business
Export has been around since the earliest forms of business trade. In fact, it is through the business of export that new lands have been discovered, wars have been fought, and international business relationships have been established. Today, many people are discovering that operating an Export business is just as exciting, adventurous, and financially rewarding as it was for the early explorers.
When one envisions an Export business, they tend to imagine huge corporations that have made their millions in international trade, however research has shown that the majority of Export businesses are owned and operated by small businesses and sole proprietors.
Your first step in operating an Export Business is to choose which type you would like to operate. Some of the most popular Export Businesses include: Export Trading, Export Merchants, and Export Management Companies. Export Trading is the art of discovering what foreign and international markets want to buy and finding the goods. Then, the company or Individual then arrange to export the goods to the buyer.
An Export Merchant is a business or individual who obtains goods and then resells them to foreign markets. This type of export business may deal in many different items, and not just one specific market. They are in business for themselves and dona to works on commission or percentages.
An Export Management Company is a company that handles a business’ exports needs. Suppose there is a company that would like to begin distributing their products in the foreign sector, but they don’t know how to tap into these markets. An Export Management Company is hired to handle all of the transactions. They are essentially employed by the original business and are paid by salary or commission for all successful transactions.
Because there are specific laws dealing with International trade and foreign business, it is imperative that you familiarize yourself with state, federal, and international laws before starting your export business. A great place to begin is by checking with your local small business administration for information regarding starting an export business.