It is no secret that the majority of Great
Britain’s large companies and best loved brands have long known how to import from China to the UK, in
order to achieve a greater profit margin from lower production costs and / or
bulk purchases of stock. But did you know that you could start your own small
business by importing and reselling goods from the country monikered ‘The Red
Dragon’ yourself? The ever popular online auction website eBay is home to a
countless number of items (including clothing, jewellery, cosmetics,
electronics, homewares and more besides) from China, at rock bottom prices.
Responsible for over a fifth of the world’s total manufacturing,
China’s factories have largely managed to avoid the curbed inflation applicable
to so many of its trading partners. The more items a factory produces; the
cheaper the costs involved - and this also means more instances where stock
surpluses need to be sold on for much less than their “true” value. This is
exactly why you’ll find literally thousands of items on eBay starting from just
one penny - often with free postage and packaging all the way from China!
Acquiring the right items for such a low investment can see you secure
incredible profits quickly. No wonder import and export consultants in the UK are so busy these days.
Use an accountant and import and export consultants in the UK to grow your business further
No matter how much money you make through reselling
items from China, you need to declare the total as part of your tax return,
even if you’re operating your business via eBay alone (the Government recently
announced it is going to start cracking down on those who do not declare profits from online auctions). Hence, keeping a detailed record of your stock
outlays and monthly sales in the form of a spreadsheet is incredibly important
- failing to provide important figures could land you with a fine, or even
legal prosecution. Hiring an accountant year round is an ideal solution for
avoiding such penalties.
If your start-up
continues to be successful in the long term, there is no doubt you will want to
see it thrive even further, and seeking the help and advice of an accredited
imports and exports expert could help you significantly with this. Such individuals
often have strong, pre-existing relationships with key figureheads at many of
the factories. This enables them to negotiate the best possible deals on your behalf should you ever wish to acquire
certain items on a much larger scale, or even eventually have new, unique wares
developed and produced specifically for your business venture.
