Friends, If you want to earn more profit in less time, then you can do import-export business.
Friends, you will get a good profit from this business, along with this you will also get a chance to visit many countries and get to know them.
Today all the people are resonating with unemployment. In such a time, opening your own business can be a very good step. Import Export This happens in our country as well as in many countries, it depends on you at which level you want to do it.
Today unemployment is everywhere. At such a time you can take a very good step by starting your own business and giving work to people. Some people do the business of import-export. That is, this business has been running for a long time.
So friends, if you also want to know how to start an import-export business, then you have come to the right place. Here you can get all the information about the import-export business. So let’s start without wasting any time.
What is Import Export Business?
Friends, this business of import-export runs permanently. Due to this unemployment of many people can be eradicated. Talking about Import Export, Import means to bring an item or goods here from outside.
For example, if you are taking any goods from America to India on a large scale, then it will be called Import. And the easy meaning of export means that we are sending something from here to somewhere else.
For example, sending something or goods from India to America is called export. There is import and export in every country because every country needs something or the other. If there is more production of something in our country, then we export that thing to a country where the production of that thing is less.
How to do the Import Export business?
The business of import-export is done by exchanging goods between two countries. In this business, you send goods from here to some other country or where do you get the goods that came from any other country.
Selling India’s country to other countries and selling the goods of other countries here is done with the help of import-export. This work is done under the supervision of some people. In India, this facility is provided under the supervision of foreign trade.
You have to go through some legal things to start every business. But this is done only to protect your business. Friends, before starting this business, you will need registration and a license. We will tell you in detail below how you can easily apply for the license.
How to register for import-export business?
Friends, to do import-export business in India, first of all, you have to register your business. You can register your business under Proprietorship, partnership, private limited company, etc.
To do this business, you have to first register under Transport. Import-export is not just a one-person business but it is a business of two countries. Follow these steps to register
Msme Registration :
Doing MSME registration of your business has become mandatory for all businesses to be done in India. Apart from this, registration can be done with the help of Udyog Aadhaar.
With its help, you can register your business online under the Government of India within just 5 minutes.
Shop Act registration :
Friends, if you live in the place of any corporation, and want to start your business, then first you have to register your business under Shop Act registration.
You must register for Shop Act registration or whatever place where you will start your work.
No objection certificate :
If you are doing this business in an area that is in a rural area, then you have to get registered first. For this, you need to get a NOC from the Gram Panchayat.
You also have to register for any area where you want to start a business and it is considered very important for your business.
IEC Code :
Friends, IEC code means import-export code. From the name of this code, you must have come to know that how important this code is.
You will get the assurance of this code from the Ministry of Foreign Trade, Government of India. You have to apply for this from this ministry. Friends, you can also do this work with the help of a chartered accountant and for this, you do not even need much money.
GST registration :
Friends, you must have heard the name of GST, it was started by our Government of India keeping in mind the economy of the country. This system is very important for every type of business. It is a tax system.
For the business of import-export, you must register under this system. You can easily get it registered with the help of any CA.
Remember, you will need many documents to register under all these, as well as you will also have to give your personal details, it is completely your responsibility to get all these registrations done.
Use custom clearing agent and freight forwarder
Friends, now you guys must be wondering what is Custom Clearing and Freight Forward. So first of all let’s know about custom clearing. So it is some agent or company that gets the consignments signed for importing and exporting between foreign countries.
If you are doing import and export business, then you will have to suffer in many places to do the whole job well. You will not be able to develop this much in foreign trade, so you have to hire custom clearing agents.
Freight forwarders are also some similar people, that is, there is a company or agency that works to export imports. They do this to move any of your goods which is coming by train or ship. Their main job is to take care of any kind of import-export and do all the details thereof.
Important things to start import and export business
- You always have to find good suppliers for any trade, with whom you can establish a good relationship.
- You need to update your bank account to receive foreign transactions i.e. you will need Swift code.
- Don’t forget to issue your company name while placing the order to the supplier.
- You always have to resort to a third party for shipping because it will be very beneficial for you and also there are many contacts in working the third party.
Friends, if you have followed all the things well and followed all the registration processes then you will not have any problem doing import-export business.