Import and Export Ideas for Small Businesses By Athulya - January 19, 2019 Last Updated at: Aug 25, 2020 0 4074 Import Export Ideas for Small Businesses The Bureau of Indian Standards (BIS) is collaborating with different departments and ministries on the formulation of quality assurance criteria to track imports of non-standard goods. As the RBI pumps in more cash into the banking sector, deferring or relieving the MSMEs of loan repayments could come as a welcome move. Most businesses are looking for financial support from the government and doing this can help them cope with cash flow problems. The world is more open than before as the import and export businesses are booming. However, many of us are in a dilemma as to whether we can achieve our business ambitions and goals in our specified fields of interest. In this blog, we bring you new ideas which could be a smart starting point to investing your time and money this year, and who knows, your inhibitions will take a back seat as your creativity takes flight? What are Import-Export businesses? So, Import-export businesses are one of the oldest types of businesses in existence. There have been different needs at different times and there has always been a need for different commodities for different countries. Therefore, starting an import and export business could be for you. Import and export businesses are basically an exchange of products, for example, one country which is rich in metal ore and the other in fruits started exchanging their products. Register Your Startup Ideas! Export-Import Agent This is a great profile to explore when one is looking to start import-export businesses. In export and import business, being an agent and learning the pros and cons and then starting the business is one of the easiest ways. It is always better to first do your homework, get a thorough knowledge and then proceed. The scope for this business has reached new heights in recent times and therefore will be a great venture to discover. Direct exporting and importing Here, your influence on the import-export business will be direct as you will be directly selling the imported products to your customers. Usually importing and then reselling is an easier task than exporting, because you will be aware of the inland market better than the export marketers. Besides, you have the advantage to conduct a deep market research and choose the right product for importing and reselling. Online Exporting Online exporting is very much like Amazon or eBay where the products are imported in bulk and are then sold online with great markup. Here, you can analyse the trends and make sure what is selling well. Selling Craft The import-export businesses are not only about mass productions, but it can also be about beautiful, intricate hand-made products such as jute laptop bags, glass ornaments, handmade clothes, ceramics etc. This small scale business too will do really well given the scope of interest for foreign crafts in the market. Drop shipping This is a new import-export method wherein you can use shipping as a mode to import and export goods through online dealings. For this to work effectively, one must develop good connections the buyers and satisfy their needs. This method is also very effective and not time-consuming. Warehousing If you happen to have money or property near the seaports, railway stations or airports, then there exists a great opportunity for import and export businesses. Its mandatory for all import and export businesses to have warehouses and therefore this idea can fetch you good money. Market Research Analysing local markets for making sure what could be imported and analysing some foreign export markets to understand the market is very important. Using your knowledge you can help other small business seekers to make the right decisions and shape it as a revenue channel. Vehicle exports Here, you can focus on manufacturers or even export used vehicles. Also, smaller export products within the automotive niche like parts and tools can also be sold and will make a good idea for your profit. Clothing & Beauty There isn’t a ton of clothing manufacturers in the U.S compared to other countries, so this can be a great export business plan. You can use the above statistics to your advantage because clothes from the US are in great demand owing to their fashionable prints and designs, high-grade quality and minimum production. Similarly, skincare, hair care and export cosmetics can also be thoroughly researched and well marketed in India. With so many interesting ideas for small businesses, we hope some of these will steer your creativity and direct you to horizons this year!