Table of content
- 10 reasons to start your own business
- International trade
- A complete guide to start an international export business with high investment
- How to effectively use Social Media Marketing
Our International export business carries out professional activities. They can be industrial or commercial or others. The businesses are either profit organizations or non-profit organizations. The difference between the two is that non-profit organizations do not aim for profit maximization. Instead, they work for a given cause. Profit organizations are organizations that work with the aim of making maximum profit. The Profit organizations include companies like Nike, Google, Walt Disney, Amazon, JP Morgan, Tesla and many more.
Starting a business is rather difficult however can be very beneficial. To make achieving your business dreams easy, you can log on to P.L Global Impex Pte Ltd. We provide professional services to help your business reach new heights.
There are many people who want to start a business but are afraid of failure. There are some other factors too, due to which people are hesitant to start a business. Factors like not enough funding, or indecisiveness also play an important role. But there are ways to start a business with minimum funding too. And for the indecisive part keep reading the reasons why you ought to start your own business.
10 reasons why you ought to start your own business
Still hesitant to start your business? Let us give you 10 reasons why you should start your business.
1: You will be your own boss!
If you are your own boss then you will never lose motivation. Working for someone else is not always fun, especially when they are over demanding and rude. Sometimes, your aims do not match with the company. But when you are working for yourself there will never be a dearth of motivation. You will want to put in the work because ultimately, you will reap the benefits and profits from your business.
2: Fulfill your dreams
You will be able to fulfill your dreams. Not many people get a chance to fulfill their dreams. A lot of people would give anything to get a chance to attain their dreams. Follow your passion and you are sure to find success in it. So, if you are getting a chance to fulfill your dream, don’t let it go!
3: You will be able to support NPOs and strive for social justice
As you are in charge of your business you can set it up for social gain. You can support NPOs and charities with the profit you make. For example, you start a restaurant business. It is very successful and you earn lots of profit. You can then send some of these proceeds to charity. Alternately, you can also give out the leftover food and help the homeless who are starving.
4: Achieve financial independence
People usually start a business with an aim to attain financial comfort. Your business itself is an asset. In the start of the business, you may feel financially stringent but slowly and steadily this phase will be over. Provided you run your business with hard work and determination and grow your business. Then you will finally be able to be financially independent and your wallet will continue to grow.
5: Be in control of your schedule
If you own your business, you will be in charge of your schedule. Want a flexible schedule? Well, you can give it to yourself. You will not have to report to any seniors nor will you have to run in circles in the corporate world. Initially, you may have to work for long exhausting hours but in the end, it’s all worth it.
6: Begin again
Your business, your rules. You are no longer limited to the rules and standards set by your company or boss. In your business, you set the rules according to your own will. You can implement ideas which you think will bring a change and help your business grow successful.
7: Tax benefits
While starting a business you need to secure funding and slowly grow your wealth. But one thing you can start right away is receiving the tax benefits. Like you can take advantage of some substantial tax breaks. The government supports businesses which are small or just starting out. Government helps them in the form of impressive tax incentives. For this you might need help from a financial accountant to make sure you are receiving all the benefits for your business.
8: Legitimate job security
How many times have you been scared of losing your job? But if it’s your business, you won’t have to worry about that anymore. No more stress about climbing the correct ladder or straining your brains on whether you will be handed the termination letter. However, if you start your business you can not only relieve yourself of this stress but also become a provider of jobs to other people including your own family.
9: Increase your range of skills
When working at a corporate business, you don’t get a chance to broaden your skills or increase your knowledge that often. But if you are working as an entrepreneur every day will bring a new set of challenges which will help you broaden your skills and increase your knowledge. In the start of your business, you will have to manage everything. From HR to designing each day will have a new task.
10: Explore your creative side
Starting your own business gives you a chance to explore your creative side. Your creative side is usually boxed in while working in a corporate world. But in your business you can use your creative side as much as you please. New day, new challenges, new opportunities to be creative!
Moreover, you should start your own business to follow your passion. If starting a business is your passion then don’t wait anymore. Start your business today. If you would like help regarding this, you can head on to our page P.L Global Impex Pte Ltd to get the best solution from the professionals themselves.
Exchanging products and services with foreign countries is known as international trade. There are different types of international trade. But today, we are going to focus on two ie; Export and Import business.
These terms are often used interchangeably, but they mean different things. The basic definition of the two terms differs and the functions performed by these businesses are different as well.
The basic function of an import business is bringing products or services in their own country from foreign lands. There are reasons as to why import takes place. Mainly the reason is that the good isn’t available in your country and the demand for the good is high. So, one has to import goods from other countries in order to fulfill the demand. For example, Brazil imports Refined petroleum the most. Import is quite a profitable business and can be set up easily.
The basic function of an export business is to supply goods to foreign countries who demand the goods which you export. International export business is done for reasons such as increasing the global presence, gaining more profit, broadening the customer base etc. For example, India exports about $224 million worth Refined petroleum to Brazil.
Export can also help your country because a trade surplus means a healthy economy.
To kickstart your Export and Import business you can get help from the leading company P.L Global Impex Pte Ltd. We can provide exceptional help for your business needs. We can help your business climb the ladder of success with ease. So log on to our page and achieve your dreams of a successful business.
To help you inch closer to starting your export business we present to you:
A Complete guide to start an International Export Business with High Investment.
Have a valid business operation
Depending on the country your business is in, you will need to have an authorized bank account in order to have a valid business operation. In India, you will need to open a current account for having an International export business. Also, along with this, you must give your business an appealing name with an eye-catching logo.
Get your PAN Card
PAN Card or Permanent Account Number is an important document which is needed for tax. The PAN Card acts as an identifier for the person with the tax department. The transactions which happen with the help of PAN Card include TDS/TCS credits, returns of wealth, income or gift etc.
Get an IEC
For export and import business in India getting an IEC code is mandatory. IEC is your Import-Export code which is compulsory for an export and import business according to the Foreign Trade Policy.
Get an RCMC
RCMC is Registration Cum Membership Certificate. The exporters must get an RCMC from the Export Promotion Council. This is needed for authorization for export. You can also receive benefits and concessions under FTP 2015- 20 and receive services.
These steps above are important especially if you are looking to start an International export business in India. There are a few more steps in order to set up your business.
Select your export product
Selecting your export product is very important because it will be a determining factor of your businesses success. In India, the most profitable export is clothes. You will need to do a thorough market research in order to find out which product you want to export and will bring you maximum profit.
Select your export market
Speaking of selecting the right product for exporting you also need to select the right location for exporting. If you select a location which does not have a demand for your product, your business may face some hardships. There are other factors like trade barriers, political environment and profitability. These factors must be considered while selecting the location for maximum success.
Securing your funds
The biggest advantage of starting an International Export trade business with high investment is the availability of enough capital. There are ways of starting this business with minimum investment too. However, high investment businesses can offer a significant amount of financial reward back.
Promote your product
In this digitalized era, promoting your products has become easier. There are so many online platforms like Instagram, Facebook, Twitter etc on which you can promote your products. By using these platforms, you can reach a larger audience base. Out of these, you may manage to turn some of these audiences into customers.
Let us give you some tips on how to use Social Media Marketing to your advantage.
How to effectively use Social Media Marketing (SMM)
Social media is a very powerful tool. You can take advantage of this and ace your product promotions. Some ways of promoting are: Posting on Instagram and Facebook, Blogs, Media sharing amongst many more. Your posts can be along some catchy captions and regular posting is very important. You can hire an SMM for this. They are professionals who know exactly what to do and how to post on Social Media. They can help increase the visibility of your page.
Hiring an SEO (Search Engine Optimizer) is also a great idea. They optimize a website’s technical configuration and tell you relevant and popular search requests. This in turn helps in the search engine ranking your page higher. Blogs are a great way of promoting your business. A lot of people like to read blogs on various topics like recipes, investing, makeup etc. Blogs look like the one you are reading right now. They are written by content writers whom you can also hire. They write professional and unique content using key words provided by the SEO which helps increase the visibility of the page. Next, you can also post media like videos displaying your product in a trendy way which will be uploaded on apps like Youtube. It can manage to garner a large audience and can be very profitable.