Wednesday, October 18, 2017

What You Ought To Know Before Starting A Business In The Industry Of Freight Supply Chain Solutions

By Anna Myers


Every day, there are loads transported locally and overseas. A good percentage of what is sold in most markets originates from different parts of the world. They are transited by either the use of big trucks, ships, or even flights. Therefore, in case you wish to invest in this field, you are assured d of good returns as demand is high. Here are facts you should consider before venturing in freight supply chain solutions.

In the first place have good financial plans to begin the business. It requires a lot of cash to purchase or hire the ships, trucks, or even the flights. There are also other logistics that calls for financial preparedness before you start the business. Among them includes the paying of working permit, insurance, security officers among others.

Another important document you should have is the certificate of tax compliance. Especially with goods from other countries, the revenue authorities are always alert to receive the customs duty for the cargo. You cannot be cleared at the duty offices before you pay duty for the goods transited. Apart from this tax, you are supposed to file annual tax returns with the revenue authorities. This is a mandatory requirement.

Be prepared to meet the revenue authorities in this business. At the ports and the borders, you will meet the customs officers checking whether you have cleared with the duty offices. You must pay for the cargoes brought from other countries. You must also be ready to file your annual returns every year. In return, you are given the certificate of compliance to show you are an abiding entrepreneur.

When you are planning to start such a business, you must know where to source clients. You may decide to advertise your services through the internet. At the web, there is a platform where you can promote your services through the network traffic that has been created for business people to advertise their products. You may also advertise through the media or by employing sales representative.

If you are new in this venture, it may be difficult to have your customers at the beginning. It is, therefore, your mandate to make sure that your company is known. The internet has created traffic where entrepreneurs can advertise their products. They will allow you to promote your services and build your company profile. Alternatively, you may advertise through marketing personnel or the media.

This business involves a lot of risks. During transit, there may be hijackers on the way. There has been repeated history of such incidences. You must, therefore, be prepared for such kind of happenings while on transit. You may opt to hire security personnel to monitor the movement of the freight by installing trackers operated from a central place.

You must secure insurance for your ship, flight, or trucks. In case of an accident, there may be a partial or total loss of properties. There may also be the occurrence of fire, theft and hijacks among many other matters that require you to secure a cover. The insurance will compensate for the loss in such cases, and your business will continue usually.




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