Did you know that an import-export business in Australia involves relatively low startup costs? This type of business also allows you to work from home, which can be a win-win situation for many. Knowing this, you might be interested more than ever before in starting a business in this realm.
Before you launch your import-export business in the beautiful country of Australia, however, it’s important that you know a few things. This way, you can ensure that this type of business is right for you.
1. There are Different Types of Trade Businesses.
Several types of trade businesses exist. However, there are three main types, and it will be important for you to know the differences between these types. These include export management companies (EMCs), export trading companies (ETCs), and import-expert merchants or free agents.
EMCs deal with exporting operations for domestic companies while ETCs rely on themselves for merchandise and finding potential buyers. As for free agents, they don’t have a particular product line or a specific set of customers.
As a future import-export business owner in Australia, you will need to decide which type of trade business you’re looking to start. Conduct more research on these three types to help make your decision.
2. No General License is Required for Australia Import Businesses.
While a general license to operate is not required in Australia, all the goods you import into the country must be able to be cleared through the border. For instance, certain items or conditions of such items might require particular import permits before they can cross into the country.
3. You Won’t Need Much to Get Started.
The import-export business can involve big money. It can also be complicated and stressful at times running a business like this one. However, because it can be so rewarding, the complications are often worth it. Even better, getting started doesn’t involve much.
Not only do you not need a lot of money to get started in the import-export business in Australia, but you won’t need a lot of equipment up front. A quality laptop or computer is virtually all you will need. This is perhaps one of the most exciting aspects of starting this type of business.
Moneywise, the highest expenses involved in this sort of business when getting started will go towards purchasing office goods, sourcing a supplier, and performing market research (or hiring someone to conduct such).
4. An Expert Customs Broker Can Be Beneficial.
If you plan to import goods into Brisbane, you should look into hiring an expert customs broker to make this process as smooth as possible. With this expert by your side, you can expect to avoid unnecessary hold-ups and get through Brisbane customs clearance quickly and more effortlessly.
Starting an import-export business in Australia sounds like a dream come true. While it might seem like the perfect business for you to start, it’s critical to conduct research before committing to such an idea. To start, consider the latter points before delving into the import-export business.