Who can do import & export business?
Any Indian citizen who has a PAN number & Bank account can do imports & export. For entering Exim (i.e. Export-Import ) Business one has to take IEC. We will see how to get IEC in some of the next blogs of Procedure. Here we will concentrate on who can do Exim Business.
Following persons can to Exim Business.
1) Any Businessman:- Any Micro, Small & Medium size businessman can spread his wings at an international level. Cloth Merchants, Medicine Suppliers, Food Product Supplier, Agricultural Product Suppliers, Engineering Product Manufacturers & Suppliers, Software & Hardware Suppliers, Construction Material Suppliers, Handlooms & Handicraft items Supplier, and many more.
2) Any Professionals:- Any professional such as Chartered Accountants, Cost Accountants, Doctors, Engineers, Architects, Finance Consultants, Management Consultants, Human Power Consultants, Educational Consultants, Other Consultants, Teachers, Professors, Analytics, Advisors, Trainers, Speakers, Spiritual Teachers, Astrologers & all remaining service providers can spread their wings internationally.
3) Any Employees:- Some employees are always thinking of doing their own business. Such employees can start product or service exports. They can start Exim Business in the name of any of their family members. Balanced time after job can be utilized in Exim Business. Some employees can utilize their Exim knowledge in the Company of their employers & spread their business activities all over the World. Such a dynamic employee can become a CEO or Director in the same Company.
4) Any Students:- Any Management Students, Engineering Students, Commerce Students, Agricultural Students, Medical Students, Arts Students, Law Students, Pharma Students & any other students can start their Exim business (Service or Product), part-time while pursuing their education. They can earn while they learn.
5) Any Woman:- Any educated or less educated woman can do Exim Business in Product or Services. It is scientifically proven that women have 16% more talent than men. So women can start their own venture or they can be right hand in the business or their husband or father.
Benefits of Exporting and Importing
As the Internet is expanding, businesses are becoming more visible globally and hence they have now started competing on a global scale. Export and Import is not only the core of any successful business, but it also helps to grow and expand national economies.
Each country is enriched with some particular resources. At the same time, another country may lack the same resources, for example, some countries are rich in minerals and fossil fuels while other countries are experiencing a shortage of minerals and fossil fuels. Some countries have highly developed educational systems & infrastructure and others do not.
Countries' economies start developing once countries start exporting whatever they are prosperous in, as well as importing goods that they lack. Importing and Exporting goods is important for consumers too. As they can purchase the products that are not produced locally but are available online from a business abroad.
Importing and exporting goods can be very advantageous for businesses today. While importing can help small and medium businesses to grow and increase by moving larger markets abroad. While exporting can raise the profits of medium and large businesses.
Benefits of Exporting
Increasing your Sales Potential
Exporting your products and services can increase your sales potential. Once you have already expanded in the local market, instead of selling your products locally — you can discover new opportunities in the global market. This will increase your sales potential.
Increasing Profits
Exporting your products globally can lead you to good profits. This is generally due to the larger order that is placed by foreign buyers as compared to local buyers. Moreover, if your product is new and unique the demand can increase in no time.
Benefits of Importing
Introducing New Products to the Market
In terms of international trade, when we talk about importing it usually means purchasing products or services from another country. These products and services are introduced to new potential customers by businesses and individuals who are importing.
Reducing Costs
One major benefit of importing any product and service is the reduced manufacturing costs. Many businesses and entrepreneurs find importing products, goods, services much more affordable than producing them locally.
Be the First
One of the advantages of importing products is you can become an industry leader. Being the first to import any new product gives you an edge over your competitors. Many businesses use this chance to import new and innovative products before their competitors do.
Achieve your business goals by importing and exporting your products. If you want to start an export business and have no experience in this field. Our import-export course will give you the foundation and knowledge to start your business in international markets.
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