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Seven Essential Questions to check if your company is ready to import

(S,P) These questions may be unrelated to the practical importing process but are equally important to consider.

Only when you worked through these fundamentals, would be recommended you consider importing.

  1. Is your product successful in your domestic market or in other countries?

  2. Does your company have the capacity to buy the product in foreign markets outside your country? Does it have sufficient staff, time, financial and legal resources?

  3. Is your company ready to make international sales, choose the most appropriate means of transport and go through customs procedures?

  4. Does your company have a comprehensive financial/marketing/business plan with clearly defined goals in support of importing products from countries outside your country?

  5. Does your company have a concrete strategy for how to import the product to your market? For example, you may import your product directly from the producer or indirectly by employing a third party, such as a distributor. Both direct and indirect imports may also be supported by e-commerce platforms.

  6. If applicable, is the intellectual property related to your product protected in your export market?

  7. Does your company have the capacity to analyse and check if the product complies with health, safety, technical and/or marketing standards in your country?

Before you continue, consider the questions above carefully and discuss them within your company to decide whether you are ready to trade with other countries, or which steps you need to take to prepare yourself to do so.

We would be pleased to work through these questions with you.

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This information is intended to serve as general guidance only and does not constitute legal advice. We cannot guarantee the quality, content, or accuracy of the information provided on this page as laws and information change regularly. Moreover, the application and impact of laws can vary widely based on the specific facts involved. This information should not be used as a substitute for consultation with professional legal or other competent advisers. Before making any decision or taking any action, you should consult a Customs Manager Ltd. professional.

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