Many businesses strive to become more competitive in their local market and also many are competing on a global scale. To start the growing and expanding are needed creative decisions, which often include either importing or exporting of goods. Growing in business is often connected with sustainability and as soon as it starts operating internationally, there are many additional factors which can have a huge impact on its success.
Advantages of importing
Importing raw materials and goods is one of the paths of increasing the profit margins. There are number of benefits in importing the goods, such as high quality, low prices, introducing new products to the market, reducing costs, becoming a leader in the industry.
Reducing costs
Major benefit of importing is the reduction in manufacturing costs. Many businesses today find importing products, parts of products and resources more affordable than producing them locally. There are numerous cases when entrepreneurs find products of good quality which are inexpensive even when the overall import expenses are included. So instead of investing in modern, expensive machinery, entrepreneurs choose to import goods and reduce their costs. In most cases, they are ordering large quantities in order to get a better price and minimize the costs.
Providing high quality products
Another benefit of importing is related to the ability to market products of high quality. Lots of successful entrepreneurs travel abroad and visit factories and other highly professional sellers in order to find high quality products and import them into their own country. If you choose to base your business on importing products, chances are you are going to get high quality products. This is due to the fact that manufacturing businesses are very aware that their reputation largely depends on the quality of the items they produce. This is a reason more to consider importing the essence of your new business.
Leadership in the industry and introducing new products to the market
One of the key benefits of importing products is the opportunity to become a market leader in the industry of interest. Since manufacturing new and improved products is a never-ending process, many businesses worldwide use the chance to import new and unique products before their competitors do. Being the first to introduce a new product can easily lead you to becoming a leader in a certain industry.
First steps in importing from a foreign country
Importing from a developing country is characterized with all described advantages. An importer can have the much cheaper products from the foreign market due to low labor cost, low taxes etc. In terms of quality, the importer can have the higher quality goods and produce the finished goods with high quality and extend the business profit margins.
Despite the potential benefits when it comes to investing time and funding for research of new market and preparation for import many managers are prevented from making the first step. The role of intermediaries in the international trade is crucial. Meeting with a professional, who knows well the market you want to import from, can:
• give you useful information about local trade terms and conditions;
• save you time and money for research;
• prevent you from using the “trial and error” method to find quality products and reliable foreign partners;
• help you find easier which local brands offer the best quality/price ratio.
Advantages of the developing countries on the Balkans as a South-East European
The South-Eastern European region is developing fast in economic terms. Many business opportunities exist, the investment climate is favorable, and there is solid fiscal discipline, low production costs and a literate and skilled workforce. The legislation is synchronized with the European one and the region attracts more and more investors.
However for many people the Balkans are truly foreign. They believe that the people from the region are very different, against one other and doing business with them is difficult or impossible. The truth is that the people here are much alike as habits, attitude and behavior, despite the differences inherited over the years. They are open-hearted and hospitable. And to be understood, that must be felt.
As a company from the Balkans we have knowledge and skills to work with other companies in our region. We are focused on the supply of excellent goods from the Balkans towards the developed countries of the European Union. If you are looking for such goods with big potential and very good quality/price ratio, contact us without worry. We’ll find reliable partners for you in the region and support you in your work with them.