Top 6 Common Import and Export Business Mistakes to Avoid

Establishing an import-export business can be a highly rewarding endeavor, but also one that has plenty of challenges, too. Cross-border import-export business requires a lot more understanding of the foreign market, which is not an easy task. And while there is plenty of information that novice global traders can access on the internet, only a few have the patience, time, and resources to understand it all.

Top-Common-Import-Export-Business-Mistakes

However, while there are a lot of things to learn in the import-export industry, there are only a handful of mistakes that would-be importers and exporters will need to familiarize themselves right before they start their business. For veterans in the industry, having a “refresher course” about these mistakes is also critical to quickly identify the root cause of the problem when their operations go off track.

One of the most common pitfalls when running an import-export company is not paying attention to the exchange rates. Since this industry mainly requires the exchange of goods between borders, monitoring the currency fluctuations closely is extremely imperative in order to know if you are generating profit or making losses. From the time of negotiations to the point of transporting and eventual delivery of the goods, the value of two countries’ currencies with regard to the US dollar could greatly fluctuate, which means that one party might incur a higher loss and the other might make a higher profit.

Not paying attention to local and/or foreign laws in terms of product packaging, marking and language is another costly mistake to make in import-export business. In every country, there are packaging standards which importers and exporters must comply with so that they can identify which shipment come from which region. Failure to comply with these standards can lead to hefty fines and even suspension of your license to import from or export to that country.

Aside from these two, there are more common yet often overlooked pitfalls that novice importers and exporters must avoid in order to run successful global trade operations. Knowing these common mistakes will not only help you achieve an efficient import-export operation but will also provide you with peace of mind and win the trust of your clientele.

To summarize, here are the key points from the below Infographic developed by team Excelsior, which describes the most common mistakes that you must avoid while running an import-export business.
  • Lack of Knowledge in Import and Export Regulation
  • Hiring an Incompetent or Unexperienced Customs Broker
  • Not Declaring the Correct Value in Customs
  • Unfamiliarity with Incoterms
  • Failing to Insure Goods Properly
  • Not Verifying the Legitimacy of the Supplier or Buyer of the Product
Top-Common-Import-Export-Business-Mistakes-to-Avoid-Infographic

COMMENTS


Name

25PP,2,3G,3,4G,4,Absinthe,5,Adobe Flash,3,Ads,11,Affiliate Marketing,6,AliExpress,1,Amazon,51,Amazon Phone,1,Amazon Tablet,7,AMD,5,Android,234,Android 10,2,Android 6,3,Android 7,4,Android 8,9,Android 9,4,Android APK,36,Android Apps,104,Android Auto,3,Android Games,13,Android GApps,3,Android Gingerbread,2,Android Ice Cream Sandwich,8,Android Jelly Bean,21,Android KitKat,12,Android Lollipop,10,Android Marshmallow,3,Android N,5,Android Nougat‬,5,Android O,7,Android Oreo,8,Android P,2,Android PC Suites,1,Android Pie,3,Android Q,2,Android SDK,9,Android TV,9,Android USB Drivers,2,Android Wear,10,Angry Birds,6,Anti Virus,15,App Developer,19,Apple,645,Apple CarPlay,1,Apple Pay,1,Apple Store,17,Apple TV,89,Apple Watch,39,Apps,79,ARM,1,Asus,2,ATT,7,Baidu,1,Battery,2,Bill Gates,2,Bing,13,Bitcoin,8,Bittorrent,4,BlackBerry,11,BlackBerry App,3,Blockchain,3,Blogger,32,Blogs,46,Bluetooh,6,Business,229,BuySellAds,1,Call Center,5,Camera,7,Cars,3,CCTV,1,Certifications,10,China Mobile,3,Chrome,25,Chrome OS,6,ChromeBook,2,ChromeBox,2,Chromium,4,CISPA,1,Cloud,30,CMS,6,Communication,12,Computer,52,Cortana,1,Credit Cards,5,CRM,9,Cryptocurrency,8,Currency,8,Cyberbullying,2,Cydia,43,Cydia Apps,10,Cydia Tweaks,10,Debit Cards,4,Developers,29,Digital Camera,8,Digital Marketing,260,Digital Signage,2,Disqus,1,DMCA,1,Doodle,1,DOS,1,Downgrade,14,Dropbox,1,Drupal,3,Earn Money Online,41,EarPods,1,eCommerce,27,Electra,6,Electronic Arts,1,Emulator,4,Encryption,1,Entrepreneurs,41,eReader,4,eSignature,1,Ethereum,1,Evasi0n,16,eWallet,4,Facebook,128,Facebook Ads,11,Facebook Apps,19,Facebook Credits,4,Facebook Developers,3,Facebook Like,8,Facebook Marketing,12,Facebook Messenger,5,Facebook Pages,9,Facebook Photos,2,Facebook Stocks,2,FacePAD,1,FaceTime,2,FileSonic,2,Firefox Add-Ons,2,Firefox OS,2,Fitbit,1,Foursquare,1,FP,6,Framaroot,4,Free Stuff,28,Gadgets,151,Galaxy Nexus,2,Galaxy S-Voice,2,Game of Thrones,1,Games,50,Gaming Console,11,Gaming Laptops,9,GApps,2,GearBest,6,Gifts,6,Gmail,10,Google,242,Google +1,10,Google Ads,5,Google Adsense,3,Google Adwords,4,Google Analytics,1,Google Apps,11,Google Earth,2,Google Fit,2,Google Glass,8,Google IO Conference,4,Google Map,7,Google Music,2,Google Nexus,13,Google Nexus Player,1,Google Panda,1,Google Penguins,1,Google Play Edition,1,Google Play Store,16,Google Plus,17,Google Plus Pages,6,Google Search,28,Google TV,5,Google Voice,6,Google Wallet,1,Google+,16,Google+ App,1,Google+ Pages,6,Graphic Design,5,GreenPois0n,28,Groupon,6,GSM,3,Guest Posts,10,h3lix,2,Hack,82,Hackintosh,4,Hard Disk,12,Hard Drive,15,HDD,14,Headsets,4,HealthVault,1,Home Automation,13,Honor,1,Hootsuite,1,Hostgator,1,Hotspot Shield,1,HP,2,HTC,16,HTC One,6,HTML5,15,HTTPS,3,Huawei,3,Huawei Honor,2,Hyper-V,3,IBM,2,iCloud,22,iGoogle,2,iMac,9,Infographic,183,Instagram,6,Intel,7,Internet,256,Internet Explorer,18,Internet IPOs,1,Internet Marketing,73,Internet Protocols,3,iOS,387,iOS 10,21,iOS 11,28,iOS 12,18,iOS 13,6,iOS 4,1,iOS 5,17,iOS 5.0.1,5,iOS 5.1,9,iOS 5.1.1,12,iOS 5.2,1,iOS 5.2.1,1,iOS 6,73,iOS 6.0.1,13,iOS 6.0.2,5,iOS 6.1,21,iOS 6.1.1,3,iOS 6.1.2,4,iOS 6.1.3,7,iOS 6.1.4,4,iOS 6.1.5,2,iOS 6.1.6,2,iOS 7,59,iOS 7.0.1,2,iOS 7.0.2,2,iOS 7.0.3,1,iOS 7.0.4,2,iOS 7.0.5,1,iOS 7.0.6,5,iOS 7.1,25,iOS 7.1.1,6,iOS 7.1.2,6,iOS 8,60,iOS 8.0.1,5,iOS 8.0.2,5,iOS 8.1,12,iOS 8.1.1,2,iOS 8.1.2,1,iOS 8.1.3,1,iOS 8.2,6,iOS 8.3,5,iOS 8.4,10,iOS 8.4.1,4,iOS 9,33,iOS 9.0.1,1,iOS 9.0.2,1,iOS 9.1,6,iOS 9.2,2,iOS 9.2.1,2,iOS 9.3,3,iOS 9.3.1,2,iOS 9.3.2,4,iOS 9.3.3,4,iOS 9.3.4,2,iOS 9.3.5,2,iOS Apps,67,iOS Beta,13,iOS Games,13,IP,3,iPad,368,iPad 2,54,iPad 3,47,iPad 3G,1,iPad 4,9,iPad Air,3,iPad Apps,28,iPad Mini,29,iPad Mini 2,2,iPad Siri,4,iPadOS,7,iPhone,424,iPhone 3G,52,iPhone 3GS,6,iPhone 4,63,iPhone 4S,67,iPhone 5,33,iPhone 5C,4,iPhone 5S,14,iPhone 6,31,iPhone 6 Plus,9,iPhone 7,2,iPhone Apps,28,iPhone Siri,7,IPO,3,iPod,205,iPod 4G,2,iPod 5G,1,iPod Apps,15,iPod Classic,1,iPod Nano,7,iPod Shuffle,5,iPod Siri,5,iPod Touch,210,IPv4,1,IPv5,1,IPv6,1,iShower,1,iShower Speaker,1,IT,2,iTunes,193,Jailbreak,129,Jailbreak Tools,37,Jitterbug Touch,1,Joomla,5,Kaspersky,1,Keyboards,2,Keylogger,2,Kindle,9,Kindle Fire,3,Kingo,2,KingRoot,1,Laptop,58,Lasers,1,Launchers,3,Lava,1,LCD,2,Legal,5,Lenovo,2,Lenovo ThinkPad,1,LG,9,LiberiOS,2,Lightning Cables,1,Link Building,4,LinkedIn,4,Linux,13,Lockerz,1,Logitech,1,Lync Desk Phones,1,Mac,194,Mac Mini,3,Mac OS X,203,MacBook,3,MacBook Air,10,MacBook Pro,10,Macintosh,4,macOS,66,macOS 10.12,9,macOS 10.13,9,macOS 10.14,8,macOS 10.15,2,macOS Beta,3,macOS Catalina,3,macOS High Sierra,9,macOS Mojave,8,macOS Server,3,macOS Sierra,9,Magento,1,Mambo,3,Maps,9,Mark Zuckerberg,2,Marketing,71,Marketplace,1,Meego,2,Megaupload,1,Meizu,1,Micromax,1,Microsoft,199,Microsoft Office,34,Microsoft SharePoint,1,Microsoft Surface,3,Microsoft Surface Pro,2,MIUI,3,Mobile,721,Mobile App Developers,18,Mobile Apps,181,Mobile Broadband,1,Mobile OS,29,Mortgage,1,Moto X,1,Motorola,6,Mouse,2,Movies,1,Mozilla Firefox,16,Music,10,MySpace,2,Nasdaq,1,Net Meeting,1,Nexus,7,NFC,1,Nikon,1,Nintendo,3,Nintendo 3DS,2,Nokia,31,Nokia Belle,2,Nokia Lumia,8,Nokia Normandy,1,Nokia Store,2,Nokia X,6,Notebook,1,Nuance,1,Office 2010,8,Office 2013,2,Office 2016,11,Office 365,7,Open Graph,1,Open Source,1,Opensn0w,1,Opera,6,Opera Mini,2,Operating System,70,Oppo,1,Oracle,2,Orkut,1,OS,47,OS X 10.10,65,OS X 10.10.1,6,OS X 10.10.2,9,OS X 10.10.3,10,OS X 10.10.4,6,OS X 10.10.5,4,OS X 10.11,25,OS X 10.11.1,3,OS X 10.11.2,2,OS X 10.11.3,2,OS X 10.11.4,2,OS X 10.11.5,3,OS X 10.11.6,2,OS X 10.8,2,OS X 10.9,37,OS X 10.9.1,2,OS X 10.9.2,5,OS X 10.9.3,12,OS X 10.9.4,7,OS X 10.9.5,5,OS X El Capitan,23,OS X Mavericks,40,OS X Mountain Lion,17,OS X SDK,9,OS X Server,48,OS X Server 3,5,OS X Server 4,15,OS X Server 5,9,OS X Yosemite,60,Outlook,8,Ovi,2,Ovi Store,1,P0sixspwn,1,P2P,1,PageRank,2,Pangu,11,Payments,10,PayPal,3,PDF,7,Personalization,1,PhotoBox,1,Photography,6,Picnik,1,Pinterest,2,PIPA,2,Piracy,3,PlayStation,6,PlayStation 4,4,Pocophone,2,Pod2g,2,Podcasts,1,Powerpoint,2,PP,2,Printers,7,Privacy,55,Programming,19,Projectors,1,PS4,4,Python,1,QMobile,1,QMobile Noir,1,RAM,2,Redsn0w,23,Remote Access,5,Root Android,36,Rovio Mobile,4,S-Voice,2,Safari,34,Samsung,58,Samsung Galaxy,30,Schemer,1,Search Engine,59,Search Engine Marketing,46,Search Engine Results,35,Seas0nPass,2,Secure Socket Layer,3,Security,81,Selfie,1,SEM,40,SEO,94,SEO Tools,11,SERP,2,Server,10,Shopping,44,Signage,1,Sileo,1,SIM Card,2,Siri,12,SkyDrive,3,Skype,5,SlideShare,1,Small Business,208,Smart TV,4,Smart Watch,6,Smartphones,675,SMM,6,SMO,12,Sn0wbreeze,5,SnapChat,3,Social Media,104,Social Media Marketing,65,Social Media Optimization,49,Social Media Tools,9,Social Networking,163,Software,205,Sony,19,Sony Ericsson,5,Sony VAIO,1,Sony Xperia,3,SOPA,2,Speakers,3,Sprint,2,Spyware,2,SSD,14,SSL,2,Startups,70,Statistics,23,Stock,3,Stock Photography,2,Stock Photos,2,Storage,26,Store,30,Swift,10,Swype,1,Symbian,8,T-Mobile,4,Tablets,565,TaiG,5,TechGlobeX,3,TechGlobeX.net,1,Technology,198,Telephone,1,Television,8,Templates,3,TinyUmbrella,2,Tools,100,Torrent,3,Toshiba,2,Toshiba Satellite,1,TuneUp Utilities,1,TV,10,tvOS,34,Twitter,17,TypePad,3,Ubuntu,6,Ultrasn0w,1,Unlock,43,USB Debugging,2,uTorrent,4,Verizon,4,Video Marketing,7,Video Optimization,8,Videos,36,Virtualization,9,Virus,7,Visual Studio,3,Vlogging,3,Vlogs,3,Vodafone,2,Voice Call,17,VoIP,12,VPN,10,Walmart,2,watchOS,33,Wearables,13,Web,119,Web Browser,26,Web Browser Plugins,3,Web Design,25,Web Development,44,Web Domains,15,Web Hosting,30,Web Servers,17,Western Digital,1,WhatsApp,5,Whited00r,1,WiFi,3,WiFi Calling,1,WiFi Hotspots,3,Windows,161,Windows 10,19,Windows 10 Enterprise,2,Windows 10 Mobile,1,Windows 10 Pro,2,Windows 10 Server,3,Windows 7,33,Windows 8,48,Windows 8 Pro,3,Windows 8 RT,3,Windows 8.1,6,Windows 8.1 Enterprise,1,Windows 9,4,Windows Apps,4,Windows Live,3,Windows Live Essentials,5,Windows Live Messenger,6,Windows Media Center,1,Windows Mobile,19,Windows Phone,47,Windows Phone 10,1,Windows Phone 7,10,Windows Phone 7.5,5,Windows Phone 8,9,Windows Phone 8.1,1,Windows Phone Apps,1,Windows Phone Mango,3,Windows Phone SDK,1,Windows Server,5,Windows Server 2012,2,Windows Server 2016,2,Windows Server 2019,1,Windows Server 8,1,Windows Vista,5,Windows XP,6,Wireless,4,Wordpress,45,Wordpress Plugins,4,Wordpress Themes,5,WWDC,52,Xbox,6,Xbox 360,6,Xbox One,3,Xcode,80,Xiaomi,8,Yahoo,10,Yalu,3,YouTube,12,Zong,1,ZTE,1,Zune,2,Zynga,1,
ltr
item
TechGlobeX: Top 6 Common Import and Export Business Mistakes to Avoid
Top 6 Common Import and Export Business Mistakes to Avoid
https://1.bp.blogspot.com/-a5DYhHlMW9E/Wzzmy5mWHCI/AAAAAAAAOME/bPBcsHzie2Y2kXBVSQesUk8_tGlztX7VgCLcBGAs/s1600/Top-Common-Import-Export-Business-Mistakes.jpg
https://1.bp.blogspot.com/-a5DYhHlMW9E/Wzzmy5mWHCI/AAAAAAAAOME/bPBcsHzie2Y2kXBVSQesUk8_tGlztX7VgCLcBGAs/s72-c/Top-Common-Import-Export-Business-Mistakes.jpg
TechGlobeX
https://www.techglobex.net/2018/07/common-import-and-export-business-mistakes-infographic.html
https://www.techglobex.net/
https://www.techglobex.net/
https://www.techglobex.net/2018/07/common-import-and-export-business-mistakes-infographic.html
true
6015647009126982431
UTF-8
Loaded All Posts Not Found Any Posts VIEW ALL Read More Reply Cancel Reply Delete By Home PAGES POSTS View All RELATED ARTICLES: TOPIC ARCHIVE SEARCH ALL POSTS Not Found Any Post Match With Your Request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Just Now 1 Minute Ago $$1$$ minutes ago 1 Hour Ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago More Than 5 Weeks Ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share To A Social Network STEP 2: Click The Link On Your Social Network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content