But before you step forward into a new area of business, you need to be aware of some of the dangers lurking out there, ready to derail your business. With an Export-Import Argentina business, use caution and beware of these five hazards that can end things before they get started.
Working with the wrong vendors: One of the most important factors to the success of your Argentina export and import business is whom you choose to work with. The Internet has opened up the marketplace, and unfortunately, that’s allowed some disreputable vendors to slip through the cracks. You want to choose someone who will live up to what they promise. Someone who offers quality merchandise at reasonable prices.
Choosing poorly performing products: Even the best vendors may not be enough if you have a misguided business sense. You need to choose products that you know will sell. Look in to competitive products and companies. See what they’re charging, and see what customers are buying for. Only then can you avoid this potentially disastrous hazard for your Export-Import Argentina business.
Selecting the wrong forms of payment: Paypal is a good source for payment when dealing with international businesses, but it still doesn’t offer you the protection and peace of mind that a letter of credit from a reputable financial institution can give you. A letter of credit is an agreement between you and the vendor as overseen by the financial institute to ensure the transfer of payment and product. With letters of credit, there are never any questions that one or both parties fulfilled their obligations under the agreement.
Researching in the wrong places: Start with your country’s Embassy in Argentina. There, you will have an official government source that you can trust. This source will keep record of all the reputable suppliers as well as what products are in demand for import, and what products are popular for export. It’s a one-stop shop for all your Export-Import Argentina business needs.