Are you interested in doing business in China? Are looking to import from China? Do you want to tap into the business opportunities in China? Then here’s a detailed guide on how to import goods from China.
China has made a name for itself in the recent years with respect to national and economic aspects; that is why businessmen worldwide are roaring to have their businesses there. Almost every Fortune 500 company is well established in China; from Apple, Microsoft, Oracle and Google, to Nokia, HP and Facebook. With a population of over one billion and a fast growing economy; China is definitely the next best place to situate and open a business.
How to get started importing Goods from China
In a wide market industry such as that of China, there will always be tons of product choices to choose from one when venturing into the importing business. However, before you get excited and rush into this business, you must first know the basic tips and techniques on how to import goods from China. As a side note, I want to state clearly that the basic principles of importing from China are the same, regardless of the country you are importing into. Whether you are importing from China to USA, Nigeria, India, UK, Canada, Ghana, etc; the rules are the same.
Doing Business in China – How to Import Goods from China Online
Find products that are hot in demand
When importing from China, it’s advisable that you go for products which you have interest in. Looking for possible supply sources is not the difficult task when starting with the importing process; looking for what product to import is. It is very crucial for you as an importer to find a product or a line of products which you have interest in; this will make selling the goods easier.
Moreover, if you have already decided the product to import, you can now proceed to look for sources of such product; and this can easily be done through the internet. Numerous web listing services can be found and are amazingly easy to use with its register-post-receive process. A good place to start looking for product suppliers is Alibaba.
Find a good manufacturer or supplier
It is not enough that you find a good supplier; you must also be able to create a harmonious relationship with your supplier. The logic behind this technique is that the more comfortable and professional the relationship is between the importer and the supplier, the more the business venture will turn out to be successful. You may want to know what exactly a good supplier should do.
Basically, a good supplier or manufacturer should be able to provide samples of his products or services when asked of him. Furthermore, you must be able to ask important and necessary questions such as the history of the supplier, his working experience and the other people they have served; and the only way this can be achieved is through establishing a good working relationship with the supplier.
Understand the trade laws and terms between China and your country
A very significant aspect you must never take for granted when it comes to importing from China is the trade term or laws involving the two countries. It is a given fact that there are different rules and regulations that are implemented in different countries; and China is not an exception.
Before you get excited and begin placing order for products to be imported, you must first know the shipment terms, so as to avoid possible conflicts such as goods being forfeited by the Bureau of Customs or violation of special laws. Though this is a lot of work, it can be easily done through a consultation with a company which specializes in import management. They will not only give you the necessary information you need know about import laws, they will also negotiate on your behalf.
It’s also important that you have an idea about the payment terms because they vary from one supplier to another. The common term is a 30% charge upon ordering and the other 70% is to be paid upon shipment; this of course is different, depending on the parties involved.
Hire a competent freight forwarder and agent
Hiring a competent forwarder and customs broker is the wisest decisions you will ever make when engaging in importation business; and the reason is because they are to be relied upon when it comes to transportation and customs clearance, things you wouldn’t want to waste time on. However, you must note that an authorization, in the form of an issuance of a power of attorney, is needed by the agent for such task.
4 Challenges of Importing from China
- Language difference
- Cultural difference
- Finding Manufacturers that are technically capable of producing your quality standard
- Timing and loyalty
How to overcome the challenges of importing goods from China
- Be Prepared: – Read books about the Chinese, their business culture and attitudes. This will help you understand your Chinese partners/associates.
- Have credible Chinese partners to help with your operations.
- Get an interpreter if possible
- Assess your suppliers or manufacturing outfit and be sure that they meet your standard
- Don’t put your trust on product samples. Have an inspector standing by to oversee your production process.
In conclusion, there are also numerous things to consider before you venture in importation of goods, not just from China but in almost every country. The most basic thing to think about, however, when it comes to importing products, is to be cautious as there are tons of people who are into scams and illegal operations. So for those who wish to import goods from China or wherever: better check the deck before you seal the deal.