Buying from the Far East

For many businesses the attraction of buying from China or Taiwan seems huge. Prices appear so much lower than UK supplied goods.

These companies that offer supply are attentive and seem on the ball at giving you what you need.

However the road to finally getting your goods is fraught with problems.

The supplier will require payment up front generally before you receive any goods.

After payment the goods can take up to 3 months to arrive in the Uk.

You may also need to pay duty and VAT up front depending on the nature of your goods and category that they fall into for import duty.

Often the goods received will not match the samples. A disaster in that even if the supplier agrees to send you more as replacement, you are looking at another 3 month delay for the goods to arrive.

They could be sent by airfreight but it is unlikely that the supplier will do this on any sizeable order.

So your cash flow will come under a lot of pressure when buying from the Far East.

Also your best selling lines will be out of stock before you have enough quantity to make up a new order and pay for the next order in advance.

There is another option here: Find a UK supplier to work with you and work out quantity discounts as you do more and more trade. It makes for so much less hassle and it will keep your customers happy in that you do not keep running out of your best selling lines.

Spend time on developing your business not on sorting out supply problems!

Author: Biz Turnaround

Widely experienced in Sales and Marketing for Business. Specialising in Business development. My business experience is wide spanning over 30 years. Strategy and planning are highly important in todays business world. Opportunities are always there and with right strategy these can be achieved.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: