Maritza Manresa - How to Open & Operate a Financially Successful Import Export Business

How to Open & Operate a Financially Successful Import Export Business

By Maritza Manresa

How to Open & Operate a Financially Successful import Export Business

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Library of Congress Cataloging-in-Publication Data

Manresa, Maritza.

How to open & operate a financially successful import export business : with companion CD-ROM / by Maritza Manresa.

p. cm.

Includes bibliographical references and index.

ISBN-13: 978-1-60138-226-9 (alk. paper)

ISBN-10: 1-60138-226-X (alk. paper)

1. Trading companies--United States--Management. 2. Imports--United States. 3. Exports--United States. 4. New business enterprises--United States--Management. I. Title. II. Title: How to open and operate a financially successful import export business.

HF1416.5.M355 2010

658.84--dc22

2010005093

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Table of Contents

Dedication

To those who always believed in me and told me that I could always do more that I would go far. To those who encouraged me to follow my dreams and reach for the stars, because they could be mine if I wanted them badly enough. To my family and true friends who have been my pillars of strength and support, and who have stood by my side so that what once was a dreamis now a reality.

Introduction

Starting a business, regardless of its nature, is always very exciting. How could it not be? It is the realization of the American dream. However, the dream is not to simply start your own business, but to successfully operate it for as long as you wish. To accomplish this, it will take more than the initial enthusiasm and excitement of starting a new venture it will take a positive outlook, commitment, and the willingness to learn new things. The purpose of this book is to provide you with the knowledge and tools to successfully compete in the global market. Looking at it as a whole, the information may seem a bit overwhelming; it is my intention, however, to take you through this process step by step. Each step is essential and plays a part in the ultimate outcome: establishing and operating a financially successful import export business.

Your potential for success in the import export business is immense 95.5 percent of the worlds population exists outside the United States, and 67 percent of the global purchasing power is also generated from outside the U.S. Regardless of fluctuations in the world economy, the international trade industry continues to flow. There will always be demand for goods not available locally, but that can be obtained from another part of the world. Also, the possibilities for importation and exportation are practically endless. During the years I was involved in international trade as a foreign-trade zone manager, I worked with many companies that were exporting goods that you would have never imagined had a market abroad. Patented inventions that might have seemed useless to us turned out to be a great hit when exported abroad. In other words, there is no such thing as a bad idea when it comes to a possible product to import or export. Be creative. Look around you as you walk around the great city in which you live, or the small town you call home, and pay attention to all of the things that were probably imported being consumed in your area. These are things that you could be importing as part of your business.

As you make your way through the book, putting into action the recommended steps, you will see your business unfold and materialize into a thriving, prosperous international trade operation. The first few chapters of the book have been designed to take you step by step through the process of establishing your business starting with the inception of your idea to enter the import export industry, then going through the moment you are ready to begin operations. You will be exposed to every form of a businesss legal structures, allowing you to make educated decisions as to how you want your business to operate. You will also learn about the Internal Revenue Services requirements, as well as each individual states filing requirements. Most importantly, you will learn about the different capacities in which you can operate as you become involved in international trade. Choosing one of these roles will determine the course of your business operations in the import and export industry. I have included, for your use and reference, an outline of a business plan, which is critical in the successful operation of any business. Every significant detail is addressed in order to take you through the process of establishing your new business as smoothly as possible.