Jasz
VIP Contributor
The disadvantages of importation business is that it can be a difficult business to manage. The major challenges are:
1. Inconvenience in communication – it is difficult to communicate with foreign suppliers, especially when they are situated in a different time zone. Communication is also difficult when you do not speak the same language as your foreign supplier. This can be a major setback if you have to negotiate terms with your supplier.
2. Currency exchange – currencies fluctuate from day to day and even from hour to hour, which makes it hard for you to set a price for your product when dealing with a foreign supplier.
3. Legal restrictions – importing goods from other countries means that you must comply with the laws of the country of origin, which may be different from the laws governing businesses in your country.
4. Lack of trust – when dealing with a foreign supplier, it is difficult to know whether they will actually send you the goods that you ordered once they have received payment for them. They may decide not to send any goods at all after receiving payment, or they may send poor quality goods instead of those that were ordered.
5. Competition – there are many importers in various countries who import products similar or identical to yours, so you will face stiff competition.
1. Inconvenience in communication – it is difficult to communicate with foreign suppliers, especially when they are situated in a different time zone. Communication is also difficult when you do not speak the same language as your foreign supplier. This can be a major setback if you have to negotiate terms with your supplier.
2. Currency exchange – currencies fluctuate from day to day and even from hour to hour, which makes it hard for you to set a price for your product when dealing with a foreign supplier.
3. Legal restrictions – importing goods from other countries means that you must comply with the laws of the country of origin, which may be different from the laws governing businesses in your country.
4. Lack of trust – when dealing with a foreign supplier, it is difficult to know whether they will actually send you the goods that you ordered once they have received payment for them. They may decide not to send any goods at all after receiving payment, or they may send poor quality goods instead of those that were ordered.
5. Competition – there are many importers in various countries who import products similar or identical to yours, so you will face stiff competition.
