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  • 2021 Import-Export Taxes and Duties in China
  • Import Export Business – 15 Top Tips and 12 Startup Ideas
  • Welcome to Council for Leather Exports, India
  • Import and Export Procedures in Malaysia – Best Practices
  • Leather Industry & Import Export
  • 4 Examples of Companies Fined for Lack of Import Compliance
  • Import and Export Licensing Procedures in India
  • 2021 Import-Export Taxes and Duties in China

    Leather jackets and other leather fashion wear Lastly, leather finds use in premium leather sofas and other furniture as well Leather shoes, belts, bags and jackets carry a versatile charm for men and women. The jackets popular for different graces such as bomber, perfecto, barns and trench coats are all able to sport a distinctive aura. With women, designer leather shoes and handbags with chic patterns and trends are nothing short of a fashion statement that they love to invest in and show around.

    The developing world today has gotten a hold on the entire supply chain from supply to production as they learn and adopt latest technologies by which they produce value added leather goods. The leather industry today, has its fingers dipped across many frontiers. The major parts of the world that have contributed significantly in terms of its extraction as well as processing include Russia, United States, China, India, Thailand and Pakistan.

    Asia, overall, is a sizeable contributor in leather import and export and its various products. Large scale annual leather trade fairs are exhibited in Shanghai and Bangkok. India too has a major share in leather production and its import and export. The European market is the biggest platform of leather exporters where Indian leather is largely recognized for its high quality products within reasonable price ranges. On the other hand, the scale of supply and demand of leather goods and accessories is thriving within the country India.

    The boost in per capita income along with significant increment levels of economic development is greatly up scaling living standards in the country. France, Taiwan and China are known to be the big players in pigskin leather. This leather type is used in bags, garments and other wide array of leather products in the market. See charts and graphs below Conclusion Leather and leather products have been in demand since time immemorial. Recently, many manufacturers and traders have hopped in the international market to reap huge profits from the industry that is only moving forward.

    The mass level of globalization with the advent of the internet has greatly transformed the conventional methods of leather exports and imports. Today, B2B portals such as go4WorldBusiness. The global market with its shrunken and village state has enabled small economies like India and Bangladesh to step up the ladder and come in pace with international standards of trading. As more and more individuals and businesses continue to get online, the production and trading of leather and value added products can only be expected to increase with time.

    Therefore, high levels of investment in leather, both in raw and finished forms will be a highly rewarding activity in the near future. A graphical look at the leather trade and the dominating players Largest Leather Exporting Countries.

    Import Export Business – 15 Top Tips and 12 Startup Ideas

    More The story of Lord Alan Sugar is a great one, from selling radio aerials for cars and other electrical goods out of a van, to a market stall, to multimillionaire. Knowing how to start an import export business is challenging and will take some study and research but the rewards are great. Starting an import export business or any business for that matter, is exciting and hugely rewarding. The sweat, hard work and hours that you put into your own company, benefit you directly, rather than your boss or manager, you reap all the rewards.

    Making all the decisions and being accountable only to yourself will give you a feeling of freedom and the rewards are many. Securing your own financial future, earning the respect and admiration of colleagues, friends and family as someone who took the risk and went out and built their own company is a satisfying feeling.

    Working the hours that you want to work is a huge advantage over having to work endless hours for someone else. Minimum Investment For Import Export Business Other than knowing how to start an import export business, the next question is inevitably, how much will it cost? Is Your Product Hot or Not? There are many ways to find opinions on your ideas and products. Sometimes you have to be a little creative in how you approach it but its time well invested.

    Start with friends and family and ask for honest opinions. Discuss pricing and ask your friends if they would pay for your product. Hold a focus group in your local neighborhood, give your product to the focus group and ask for their thoughts and feedback. This is one of the pillars of foundation of your import export business and will dictate if your business is profitable or not. Where can you source products from with such a huge amount of suppliers in a global market place?

    You must understand how to source your product from the right supplier with the right terms and price. Many traders rely on Internet suppliers like as Alibaba and other such companies. There is a great myth among buyers in that you get the best price, product and terms from China. This is not always the case!

    China is not actually the centre of global trade. Get Samples From Suppliers Facing buyers will be a key part of any trading that you do and following some simple guidelines will make the process easier, give you more confidence and give you a much higher conversion rate.

    Buyers will want to see samples of the goods they intend to buy and samples come in all shapes and sizes. Some are easy to obtain from supplier such as clothing, toys and watches. Others are bulky, such as construction and capital equipment. Most producers will give a limited number of samples free of charge to a serious buyer or at a nominal cost. This is where your market research and focus groups will come in very handy as you will be able to take all the feedback and questions you received and be ready for the same, preparing your pitch to cover these.

    Make contact with companies and see what they can offer you and at what prices. A Range of Products Earns Bigger Profits Now that you have sourced your product, got your samples, conducted your research which is proving positive, you may feel ready to dive in, start your import export business and start approaching buyers and retailers, asking them to place orders. This offers several advantages. Concentrating on selling just one product will limit you.

    You should ideally have a complimentary range of products. If you show your potential buyer only one item, for example, an electric kettle and they do not want to place an order, your visit was a waste of your time. However if you then show the buyer your complementary range you have a better chance of securing an order. If they are not interested in your kettle, they may be interested in your unique coffee maker, toaster and waffle maker.

    By offering a product range, even if your buyer likes the main product you wanted to market, they may also like other products within your range, so a purchase order that would have been for just one product, could turn into an order for several products.

    This increases profits for you and in the worst case, if the buyer did not like the first product you had in mind, they may like another in the range and still place an order. Many businesses are set up as agencies. Both have their benefits and can offer you advantages depending on your personal situation and what you want to achieve. There are traditional agents and brokers. There is a lot to understand when dealing with agencies which is a little beyond the scope of this blog but we have a blog post that goes into much more detail on how to become an import export agent.

    This is where you can set the terms of your business and drive a hard bargain. Negotiating is a key part of any business from the trader at your local market stall, to multi-billion pound companies the world over. Hone your negotiating skills, be confident and a little charming and you can walk away with the deal you want. As an entrepreneur this is a great feeling, securing the deal you want and giving you more confidence going into the next deal.

    Contract terms will also need to be negotiated. Buyers and Sellers seldom agree on terms and conditions of the contract on the first attempt.

    There are usually periods when both parties have to negotiate to reach an agreement. Before you enter into negotiations, you must develop an negotiating strategy. Negotiating becomes easier the more you do it.

    As you do more and more deals with the same parties, you will be able to negotiate better deals and likely more quickly as an element of trust will be built. Incoterms This is where you can really take hold of your import export business and show your import export knowledge. These are referred to as Incoterms Freight Forwarders One other big part of the business of import and export is know how to use a freight forwarder.

    The blog also includes some tips of what to be aware of and how you can protect yourself from being over charged. Marine Insurance Needless to say, insurance of your goods is a must. As with all insurances there is small print and conditions that you must be aware of. Without understanding these, your shipment may not be covered, even though you have paid your premium.

    Taking the time to really understand insurance of your goods is vital to running a successful import export business. Those Pesky Contract Terms and Conditions Terms and conditions of trade are possibly the most fundamental part of business. Without terms and conditions agreed upon, there will never be a contract signed or an order placed. Understanding the terms that your business associates want you to trade under and just as importantly, the terms that you will operate your business under, is massively important.

    Before you start trading, it is essential you have your terms and conditions in place as a buyer and a seller. These terms and conditions will form part of your contracts and you must make sure these terms cover some basic issues. It is very important that your terms and conditions fit the goods of the contract. For an example, if you are dealing in electrical goods, the goods must conform to International standards for that product. In the case of food, the food must conform to import customs regulations and the food itself must conform to national hygiene standards, packing standards and shelf-life.

    There is much to cover with terms and conditions which is beyond the scope of this blog but our Online International Trade course will cover this in more depth.

    Being an entrepreneur is exciting, negotiating and closing the deal is a rush and gives a great sense of achievement. Hard work and perseverance is a must but watching your business grow, increasing profits and securing your own financial future is massively rewarding.

    The final step is to decide how your company should be setup. There are two options, setting up as self employed or as a Limited Company. Consulting an accountant and explaining your current situation, can be wise before you decide.

    An experienced accountant will help you make an informed decision and advise you which financial records you need to keep. Most accountants will give you one hour of their time for a reasonable cost. Keep the Tax Man Happy! One of the advantages of being registered is that you can reclaim the VAT you pay on goods you bought for your business but NOT on personal purchases. Make a plan and write it down. So use our guide as a starting point and experiment with what you have. Many people start their businesses without being aware and unfortunately, will fold within the first 24 months suffering the loss of all the money they invested.

    In order to really understand all aspects of trading globally, check out our online International Trade course. No logistical theory, just streamlined content taught with a series of entertaining animated videos, validated by the London Institute of Shipping and Transport. Import Export Business Opportunities As with any small business venture, sometimes we need help getting ideas together as a kick start to moving things to the next level.

    India Leather Products Leather is a prominent industry in India with leather also being one of the most widely traded items in the world, always in demand and can be considered ageless. Shoes and coats never go out of fashion and can last for years, so becoming an export merchant for this niche may not be a bad idea. Leather purses, bags, briefcases, belts, wallets, gloves, the list goes on, there is a huge range of products to import.

    There are more than leather exporting companies in India, making it arguably one of the best import export business in India. For more information and data see IBEF. Jewelry and Precious Stones India has long been considered to be the hub of the global jewelry market because of its low costs and and highly-skilled labour. The gems and jewelry market in India is home to more than , players, with the majority being small players, so this is a great opportunity to go to India experience the culture, speak to jewelry dealers and see what opportunities are there.

    Egypt Cotton Egypt is famous for having the highest quality cotton in the world and is always in demand, worldwide. Apparel production includes active sportswear, outerwear, underwear, suits, socks, infant wear etc.

    Production of arguably the most famous use of Egyptian cotton includes a wide variety of bed sheets and bath towels. Perfumes and Cosmetics Egypt was once the prestigious center of the international perfume industry. Perfumes were created and mass-marketed elsewhere in the ancient world but it was Egypt that was most renowned and identified with the international perfume trade.

    Egyptian perfumes is a huge export market with some great opportunities. Western countries, particularly the US and UK are in high demand of weaves and will pay top dollar for real human hair. Incidentally, Thailand is also a great source for real human hair, sold in many of the markets for very reasonable prices. Ginger, Garlic, Sesame Seeds and Nuts Nigerian exports of nut related produce including oil seed, oleagic fruits, grain, seed, fruits is massive.

    Welcome to Council for Leather Exports, India

    As with all insurances there is small print and conditions that you must be aware of. Without understanding these, your shipment may not be covered, even though you have paid your premium. Taking the time to really understand insurance of your goods is vital to running a successful import export business. Those Pesky Contract Terms and Conditions Terms and conditions of trade are possibly the most fundamental part of business.

    Without terms and conditions agreed upon, there will never be a contract signed or an order placed. Understanding the terms that your business associates want you to trade under and just as importantly, the terms that you will operate your business under, is massively important. Before you start trading, it is essential you have your terms and conditions in place as a buyer and a seller.

    These terms and conditions will form part of your contracts and you must make sure these terms cover some basic issues. It is very important that your terms and conditions fit the goods of the contract. For an example, if you are dealing in electrical goods, the goods must conform to International standards for that product.

    Import and Export Procedures in Malaysia – Best Practices

    In the case of food, the food must conform to import customs regulations and the food itself must conform to national hygiene standards, packing standards and shelf-life. There is much to cover with terms and conditions which is beyond the scope of this blog but our Online International Trade course will cover this in more depth. Being an entrepreneur is exciting, negotiating and closing the deal is a rush and gives a great sense of achievement.

    Hard work and perseverance is a must but watching your business grow, increasing profits and securing your own financial future is massively rewarding. The final step is to decide how your company should be setup.

    There are two options, setting up as self employed or as a Limited Company. Consulting an accountant and explaining your current situation, can osm file to dwg wise before you decide. An experienced accountant will help you make an informed decision and advise you which financial records you need to keep.

    Most accountants will give you one hour of their time for a reasonable cost. Keep the Tax Man Happy! One of the advantages of being registered is that you can reclaim the VAT you pay on goods you bought for your business but NOT on personal purchases. Make a plan and write it down. So use our guide as a starting point and experiment with what you have. Many people start their businesses without being aware and unfortunately, will fold within the first 24 months suffering the loss of all the money they invested.

    In order to really understand all aspects of trading globally, check out our online International Trade course. No logistical theory, just streamlined content taught with a series of entertaining animated videos, validated by the London Institute of Shipping and Transport. Import Export Business Opportunities As with any small business venture, sometimes we need help getting ideas together as a kick start to moving things to the next level.

    India Leather Products Leather is a prominent industry in India with leather also being one of the most widely traded items in the world, always in demand and can be considered ageless. Shoes and coats never go out of fashion and can last for years, so becoming an export merchant for this niche may not be a bad idea. Leather purses, bags, briefcases, belts, wallets, gloves, the list goes on, there is a huge range of products to import.

    There are more than leather exporting companies in India, making it arguably one of the best import export business in India. For more information and data see IBEF. Jewelry and Precious Stones India has long been considered to be the hub of the global jewelry market because of its low costs and and highly-skilled labour.

    The gems and jewelry market in India is home to more thanplayers, with the majority being small players, so this is a great opportunity to go to India experience the culture, speak to jewelry dealers and see what opportunities are there. Egypt Cotton Egypt is famous for having the highest quality cotton in the world and is always in demand, worldwide. Apparel production includes active sportswear, outerwear, underwear, suits, socks, infant wear etc. Production of arguably the most famous use of Egyptian cotton includes a wide variety of bed sheets and bath towels.

    Perfumes and Cosmetics Egypt was once the prestigious center of the international perfume industry. Perfumes were created and mass-marketed elsewhere in the ancient world but it was Egypt that was most renowned and identified with the international perfume trade. Egyptian perfumes is a huge export market with some great opportunities.

    Western countries, particularly the US and UK are in high demand of weaves and will pay top dollar for real human hair. Incidentally, Thailand is also a great source for real human hair, sold in many of the markets for very reasonable prices. Ginger, Garlic, Sesame Seeds and Nuts Nigerian exports of nut related produce including oil seed, oleagic fruits, grain, seed, fruits is massive.

    Sesame seeds are in much higher demand too being that Sushi restaurants are now so popular. Ginger is one of the most traded spices in the world and Nigeria has an abundance.

    Starting a Trans-Sahara or Trans-Atlantic trade with these products will be profitable but take some research and time to find buyers for your exports. Garlic is also on top of the list and is easily exportable from Nigeria.

    Leather Industry & Import Export

    In our Facebook group we have suppliers in Nigeria offering tigernuts, garlic, ginger, sesame seeds and palm kernal oil. Turkish knitwear is known to be of the highest quality with worldwide competitive pricing making it an ideal product to import.

    The potential for solid profits within this textile is huge. The Turkish carpet industry is renowned worldwide due its superior-quality products and advanced technology in production. Turkey currently holds a 15 per cent world market share in carpet trade and ranks in the number two spot behind China who takes the top spot. In our Facebook group we have supplier offering carpets from Gaziantep in Turkey. Thailand Mobile Phone Accessories In every mall, high street and market stall, there are shops selling just mobile phone accessories.

    From unique looking earphones, crazy and cool phone cases, to selfie sticks and battery packs the appetite for the latest, coolest phone gadget is is enormous, worldwide.

    Importing these products is a great opportunity and the cost of these products in Thailand are significantly lower than other countries worldwide, coupled with quality craftsmanship. Shoes Shoe shoppers love Thailand! There are a gazillion varieties of shoes available in Thailand and at great prices. Importing shoes is a relatively safe investment as demand is stable and profit margins are solid. Street markets and local retailers are a good place to start when it comes to finding buyers. If you simply did not know you were doing something wrong with your imports, you will not be let off the hook when it comes to fines or penalties.

    The penalty amounts issued are based on the value of the merchandise or duties, taxes and fees. These fines can end up being quite substantial based on the level of culpability for non-compliance. Customs has 3 levels of culpability that they look at when determining the magnitude of the violation — negligence, gross negligence, and fraud. Negligence: a failure to comply due to not exercising reasonable care.

    Ford Motor Company, F. Our first example is 2 booster ball predictions decisions against Ford Motor Company. C in connection with importations in the late s and early s for under-claiming the value of their importations.

    In the first decision, the Court noted that even though Ford had an informal procedure to advise Customs that invoice prices were not final, there was a lack of communication internally at Ford about the provisional value policy. The Court held that the failure to notify Customs of the engineering changes was a material omission and breach of its duty under 19 U.

    In the second decision against Ford, it involved many of the same issues as the first case. This one dealt with imports of vehicle and components imported between and The company provided the assists but failed to declare them on the entry documents. Ford alleged that they made ample efforts to comply with the statutory obligations. However, the Court concluded that Ford did not follow their internal compliance measures and was negligent under 19 U.

    In these decisions against Ford, even though they had an informal procedure in place, it was not followed the way it should have been. If they had a proper import compliance program and it was being followed as it should have been, they could have avoided these penalties.

    4 Examples of Companies Fined for Lack of Import Compliance

    With the right checks and balances in place, you can have a streamlined compliance program that will help you remain compliant with Customs regulations. Trek Leather, Inc. Trade ; U. In doing so, they paid a substantially lower amount of duty to CBP. The president purchased fabric assists and provided them to the foreign manufacturers. The manufacturers then used the assists in the production of the suits which were then imported into the United States. He was investigated in for the same issue with another company that he owned.

    The CBP import specialist explained to him what fabric assists were, that mbz were dutiable, and the value of the assists must be included on the import documentation. The same CBP import specialist that investigated the previous violation was the same one investigating the new issue. In Novemberthe import specialist informed the president of Trek, that he should have known to declare the assist, based on the previous violation.

    The president of the Trek denied all accounts. Since Trek agreed to gross negligence verbally and, in their documents, it made the president personally liable under the statute 19 U.

    Import compliance starts with the owner of the company and trickles down to everyone else.

    Import and Export Licensing Procedures in India

    Had the president of Trek implemented a robust import compliance program that included checking to make sure all assists that were purchased by him where on the entry documents, they could have avoided these penalties to Customs. This is definitely one example that proves the value you declare on your invoices must be true and accurate.

    Any additional values that can be dutiable for customs purposes must be claimed at the time of entry. Titan Metals Corp. They do not typically import into the United States. In this one instance, they imported stainless steel flanges from India and did not claim antidumping duties on the entry to Customs.

    The company in India was shipping it back. Company and its shipment of forging scrap to the company in India. Titan Metals argument was that the discrepancy in value was the export to India was believed to be scrap metal and the import shipment was believed to be good products. The president of Titan Metals admitted that he knew the statement of the goods being made in India were false and they did not review the documents before sending them to their customs broker before submitting them to CBP.

    The president also acknowledged that they did not file a declaration by the foreign shipper that the articles were exported from the United States and not improved in value or condition in any way, in order to declare American Goods Returned.


    Leather importing exporting dealing companies contact us mail