Importing Versus Local Suppliers
Some businesses never have to look outside of their local area to get everything that they need. However, depending on the type and size of your business, you may have to look a little further afield to get everything your customers want. If you are thinking of becoming an Australian importer, consider the following when making your decision.
Local products will save you money on transportation costs, though that doesn’t mean that they will be cheaper overall. Depending on the quality of product you are after, it can sometimes be cheaper to import from the other side of the world than to get it produced in your city. When comparing costs, avoid supporting companies who use child labour or that have poor human rights records, no matter how good a deal they offer.
It is awesome to be able to enjoy the best of the entire world, but the process of transporting goods over long distances is extremely detrimental for the environment. While it is hard to measure the economic impact of environmental damage, the impact to the earth is negative and the rate of damage alarming. For the sake of the earth, only import products that you can’t get locally.
Some products are not available locally but would be guaranteed to sell if you could get them. For example, products related to cultural celebration like Chinese moon cakes or Lucky Money envelopes will do well if lots of Chinese people live in the area, making it a good idea to import from China. If you know for a fact that there is a lack of a particularly popular cultural favourite in your area, whether it is plantains or haloumi cheese, importing it may help make you a local hero, as well as making you quite a lot of money.
It is far more likely that you have connections in the area where you live than anywhere else, so finding a way to make business links with family and friends can save a fortune for your business. You are more likely to be treated well and given a good deal if you know each other. Friends or family in other parts of the world might also be able to provide contacts away from home. Sometimes you will have to go into a situation solo, but make use of your connections if you possibly can.
Support the Community
It is fantastic to support your neighbours and other people in your community, so if all else is equal, always choose to support your community.
To be a successful business you need to take opportunities wherever they present themselves, whether that is next door or on the other side of the world. Finding everything your business needs will usually involve a combination of local and international solutions, so make sure you are thinking creatively and strategically as you move forward with your business.