Engaging in import and export business is not an easy endeavor. While the industry remains attractive for entrepreneurs who want to start a business with a great potential to generate hefty profits, not playing your cards right can result in equally significant losses and even prison sentences.
With lots of moving parts, one should take extra consideration even on the smallest aspect of their operations to avoid conflict with authorities and customers. From import and export taxation and tariff rules to free trade agreements and international trading regulations, there are things that must be completely understood in order to avoid mistakes that can bring the business to a complete halt.
If you intend to build an import and export business this 2018, then check this infographic compliments of Excelsior Worldwide Freight Logistics.
This infographic details the six common import and export mistakes that you should avoid at all cost.