The number of import businesses is growing every year, and rightly so. When done correctly, running an import business can be very lucrative. However, despite the fact that so many people choose to become importers, only a tiny portion of them can make it big.
Why is that? Because most import businesses are unable to import successfully. When importing a good, it is essential that companies plan out the process carefully and executes it perfectly. For anyone planning to start or grow an import business, here are 5 essential tips for a successful import.
1. Know the Hold-Up Policies
At times, people leave their containers at the airport for longer than the allotted “free” time. After this time has passed, ports or railway stations charge a fee for the containers left on site.
The fee, or demurrage charge, may be charged per day or according to the size of the container. In any case, demurrage charges can go up to very high amounts. Hence, businesses need to make sure they’re up to date with what the charges are and when they’ll be imposed.
Luckily, it is not tricky to find the demurrage fees. A quick Google search will show you the most information you should know. These fees are usually available on government websites.
These demurrage charges are imposed so that ports and railways can make sure the containers are used efficiently. These charges are also used to compensate the shipping lines for overtime and also encourage importers to remove their goods within a reasonable time.
To stop costs from rising and keep profit margins high, businesses need to remove their containers as soon as possible.
2. Make Sure You Are Working With the Right People
Importing a good is a team effort. If even one person on the team lags behind, the whole team slows down, and the import may not be successful.
When importing something, businesses must get an import clearance through a clearing agent. For a successful import, importers should hire a clearing agent who is qualified and experienced. While getting clearance, a business must also have a commercial team to prepare essential documents, such as the commercial invoice.
In the case of both a clearing agent and the commercial team, having excellent and qualified people aboard matters immensely.
3. Make Sure There Are No Banned Goods
When importing goods from a different country, it is necessary to account for goods that are banned in either country. For example, it is permissible to import wine to the U.S. and Europe, but not to some Muslim countries. Some prohibited goods that cannot be imported into the U.K. are controlled drugs, dangerous weapons, pepper sprays, endangered animals, and inappropriate material.
For a successful import, businesses must ensure that the good they import is not banned. In some cases, a company can get a license or a permit to allow a banned good to be imported into a country. If a business does end up ordering something banned, they can attempt to obtain the permit.
4. Find Out the Packing Rules
In many countries, imported goods must be packed a certain way for a successful import. This is primarily to prevent the goods from damage.
Goods may pass through extreme weather and be subject to harsh loading conditions. Therefore, it is essential to ensure they are packed according to the requirements to avoid damage.
When planning for the import, businesses should keep a record of the packing requirements and policies of the countries they are importing from.
5. Be Aware of the Route
At times, the route between one country and the other is straightforward and direct. At other times, it is not. In the case of indirect routes, there is a higher risk of delay in delivery. Therefore, it’s crucial for businesses to do their research on the route and know whether to expect a delayed delivery.
After finding out the route and the possibility of delay, a business will have the option to cancel the shipment or to take a different route. This can help prevent uncertainty in the import business.
Additionally, when a shipment is moving from one country to the other, it may pass by different countries on the way. At times, those countries may require a check, even though the goods are not meant for them. When a business does this research, it is vital to make sure we know any such laws as well.
Ocean freight is the best way to ship heavy or oversized cargo, thanks to the large carrying capacity of shipping vessels. Different shipping containers in various sizes can accommodate oversized ocean freight cargo. The smallest container is 20 feet in height, and the largest that can be offered is 45 feet.
If you are shipping heavy and oversized cargo by sea, we recommend full container load (FCL) shipping to maximize your costs.
Shipping heavy and oversized cargo can get very expensive. But there are ways that you can reduce your costs.
Packaging can enlarge cargo even more, and sometimes, it’s not recommended if you’re trying to save on shipping costs. However, you can adjust your packaging by reducing it, fitting more products into one container, or deflating plastic packaging. These can reduce the space taken up by your cargo and reduce costs accordingly.
If you are a frequent shipper, you can make the most out of your shipping costs by maximizing less frequent orders. For example, consider shipping orders cargo together in bulk instead of shipping weekly. This scheduling tactic will reduce how often your ship and each shipment will cost. However, this may not be a viable choice for time-sensitive shipments.
The different sizes of containers also come with other costs. Moving 40-foot containers, for example, is more expensive than driving a 20-foot unit. Hence, it would help if you were smart about the size of the container you choose.
Shipa Freight and iContainers combination creates one of the top-five digital forwarding platforms in terms of number of visitors
KUWAIT – Agility, a global leader in supply chain services, infrastructure, and innovation today announced that its digital freight forwarding arm, Dubai-based Shipa Freight, will merge with Barcelona-based iContainers, a pioneer in online freight platforms.
Shipa Freight and iContainers will combine technology platforms and operations. The combined company, wholly owned by Agility, will be one of the top-five most-visited online freight forwarding platforms globally.
The merger will create one of the most comprehensive suites of digital forwarding services available, including:
The digital forwarding market has spiked with the rapid acceleration of e-commerce and the desire of merchants, B2B sellers and entrepreneurs to have self-service tools that allow them to manage their own logistics and provide them with a greater control and visibility of their supply chain.
“Digital forwarding was growing before the pandemic, and the pandemic has accelerated digital adoption. This is especially true among small businesses looking to find a trusted partner to support them through the supply disruption of the last few years, said Henadi Al-Saleh, Agility’s Chairperson. “We expect the digital freight forwarding market to grow by over 40% a year over the next few years. We’ve seen this demand reflected in rapid growth rates in Shipa Freight and iContainers’ active users and revenue.”
Al-Saleh said Agility “sees the number of small and medium-sized businesses trading across borders growing dramatically as sellers adapt new digital tools and prioritize online sales. The Shipa Freight - iContainers merger will create a stronger company to serve these customers.”
Carlos Font, CEO of the combined Shipa Freight - iContainers entities, said: “By uniting two of the industry’s leading digital forwarders, we can bring tremendous value to customers. Both have deep expertise, and joining forces will strengthen the technology platform, improve customer experience, and help expand the service offerings and geographic coverage for customers around the world.”