10 Factors to Consider Before You Import

iStock/Thinkstock

Here are ten factors to consider before you decide whether to import products from overseas for your global small business.

Here's a snapshot of one example:

4. Is importing actually cost effective?

Once you have an idea of the final landed cost of an item, you’ll be able to check whether importing will be a cost-effective option for your business. There are a lot of additional charges you’ll need to pay over and above the cost per unit from a factory overseas, and these can add up. You’ll want to be able to make a reasonable return on investment after all these costs have been taken into account.

It is a good idea to get your accountant, business adviser or customs broker to go through your calculations to make sure you’ve included all the costs you’re likely to incur.

Read the entire article:  Ten tips before you import