When deciding what kind of business to start, most people seem to focus strictly on the monetary side of things, meaning, they get too much concerned about the income potential and less so on the actual day to day operations they will do running their business. By day to day I refer here to what one will actually have to do on daily basis, and the importance of trying to figure out if I may actually enjoy that kind of work that will be the mainstay of my business.
That is unfortunate as import export business is one kind of business that indeed offers an opportunity to work to live – it offers a lifestyle, not just earnings potential. If done right, one can chose where one wants to live and design his business operations around that.
The whole point with import export business is trying to decide where one would want to import from. But if you would ever hate to go to say Nigeria, then forget the idea of importing from there, no matter how wonderful you think the product is.
Moreover, starting business these days one needs to not only consider the income potential of the business but also the tax consequences – how much will I actually be able to keep of what I earn.
Gaining full time residency in a country you wish to import from because not only that you like the product from that coun try, but you also love to visit or may even decide to make the country as your second home, may indeed be your approach to deciding where to base your business operations from, especially if the country may be a low tax jurisdiction.
In other words, opportunities in import export business, deciding what product to import and where to sell it are just one part of the story in of this business. Starting your business the right way, importing from the country that is right for you can translate into real enjoyment of what you will do on daily basis.