Yes, times are hard and it may be a scary period to start your own export import business, but the reasons for doing so, even today, far outnumber the reasons not to. While “running the show” is not for everyone, it is a great choice for those who love to lead and enjoy developing new markets and concepts. If you have the right research skills, a love for organization, and a talent for turning a profit, then you’re really doing yourself a disservice when you avoid going to work for yourself. Following are six reasons that should get you off the bench and into the playing field:
Tough economic climate encourages the entrepreneurial spirit. While a hard economy may mean that everyone is watching their dollars and cents a little more closely, it is also a time when the government often encourages you with financial incentives such as low interest loans and tax breaks. It is important for the survival of any society that the entrepreneurial spirit be encouraged. Check with your government to see what kinds of loans, grants, credits, and exemptions are available for setting out on your own.
Import export equals a global market. When you open a business in your small town, you may be able to reach 1,000-2,000 regular customers. While this is certainly nothing to dismiss as insignificant, it is, at the same time, nowhere near the market you can reach when doing business in locations such as Thailand, China, Italy, and England. That’s over a billion potential buyers!
Letters of credit ensure that your payment and product are protected. No counterfeit money orders, checks, or currency to worry about. With a letter of credit, you ensure that each transaction is completed in a manner that protects both parties. No matter if you’re shipping product overseas or importing it to your home soil, a financial institution oversees the process and protects everyone involved to enable a healthy business relationship.
Embassies and consulates are there to guide you down the path to a profitable decision. Your government’s representation in the country where you are considering importing from or exporting to is one of the best research tools you can ask for. There, product information and demographics are available for both sides of the international trade equation.
Build relationships that lead to tremendous networking opportunities. One strong relationship could lead to 10. And the more you have, the more potential revenue your business can enjoy.
Free yourself from someone else’s agenda. Working independently doesn’t mean working less. Often, it means working more. But when you strive toward a goal that you believe in, it is always more rewarding than anything you may find in the traditional work force. If you feel the pull, don’t ignore it.
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