BusinessHABTurn coordinator: An import-export coordinator can work in various industries and often arranges communications between sales groups and national or international customers.
Import-export coordinators are responsible for arranging shipments.
Preparing and confirming order approval, handling pricing information, and releasing invoices.
In today’s world economy, import-export coordinators are needed by businesses that provide goods to other countries and are in increasing demand as globalization expands.
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1. Know the Required Education
Most import-export coordination positions require a bachelor’s degree and knowledge of standard regulations that go along with various domestic and international protocols.
Many import-export coordinators take a variety of courses in business, including global business management, documentation, and management.
2. Get the Skills needed
Import-export coordinators are required to have a great understanding of the domestic and world economies. They must have strong communications skills and basic computer skills. They must also manage their own team while also coordinating with other teams, dealing with customers. Since most import-export coordinators interact with the international business community, being fluent in a foreign language can be helpful.
3. Know the Career Info
According to Salary.com, import-export clerks earned a median of about $44,946 per year, as of October 2020, while the median salaries earned by supervisors and administrators were $67,721 and $63,842, respectively. There is not necessarily more demand in coastal cities because national and international businesses are able to coordinate from all over the globe. According to the U. S. Bureau of Labor Statistics (bls.gov), careers in shipping, receiving, and traffic is expected to decline 9% from 2019 to 2029.
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4. Know the Market Research Analyst
With at least a bachelor’s degree in market research or a similar field, these analysts determine potential sales of services and products by studying current market conditions. They should have excellent opportunities for securing positions during the 2019-2029 decade, according to the U.S. Bureau of Labor Statistics (BLS), with a much faster than average employment growth of 18% predicted. In 2019, the BLS reported their annual median salary as $63,790, with those in manufacturing earning the top wages.
5. Register The Business:
Registering your business makes you able to open a bank account for it and carry out several business activities, including starting an import and export business.
To register your import and export business, a name search would first be carried out, which would go on to determine if your business name is available. If the search is successful you’d be able to complete the registration and continue the process of obtaining an import and export license.
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6. Have A Minimum Of Two Directors:
In the business registration process, there must be a minimum of two directors if you’re registering a company. If you’re registering as an enterprise instead, you may be the only one running the business, and so, be listed as the only party, whereas when you register as a limited liability company, you don’t have a choice since the law stipulates there must be at least two directors for a Limited Liability Company to be registered.
7. Have A Registered Office Address:
As with any other type of business, if you’re starting an import and export business, you must have a registered office address. At the start of your business, you may have to use your home address as the office address, since you may have little to no cash to afford an office till your business scales.
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8. Obtain A Tax Identification Number (TIN):
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After registering your business, the next step is to obtain a Tax Identification Number (TIN). This ensures you’re a registered taxpayer in the country and is your first step towards becoming tax compliant. At various stages of your business, your tax identification number would be required, which you’d have to submit whenever it is requested.
9. Register With The Export Promotion Council:
One of the most important steps of registering an import and export business is to register with the Export Promotion Council (EPC).
The registration is totally compulsory, as you would not be able to run an import and export business in Nigeria without it.
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To register with the Export Promotion Council (EPC), you can first visit their website located at www.nepc.gov.ng and give a call to their office locations in your state.
Unlike many other government agencies that rarely pick their calls or even refuse to help out without you being present, the Export Promotion Council (NEPC) is very responsive and helpful.
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10. Register With Customs By Completing The Form NXP:
The next step is to register with customs by completing the Form NXP. This registration is done with an Authorized Dealer (any Commercial or Merchant Bank) of your choice. According to the customs website, some reasons for completing the Form NXP include:
- Those goods to be exported meet with the buyer’s expectation (order) since the goods will be subjected to inspection, conducted by relevant Government agencies. Depending on the export items, these include Plant Quarantine, (Federal Ministry of Agriculture), Federal Produce Inspection Service (Federal Ministry of Commerce and Tourism), National Agency for Food and Drugs (Federal Ministry of Health), and Standards Organization of Nigeria (SON).
- That only goods that have satisfied the buyer’s order have been shipped – the Nigeria Customs Service on shipment will duly certify a copy of the form.
- That proceeds (payment) due to the exporter are duly repatriated within 90 days of shipment of goods and credited to his Domiciliary Account maintained with the Authorized Dealer that proceeds or registered the Form NXP.
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11. Obtain Special Licences And Permits For The Goods You’re Dealing In:
To run an import and export business, you have to obtain the proper licenses for the goods you’re either importing or exporting. For example, you cannot import car trackers if you don’t have a license from the Communications Commission to import them.
Doing so without a license could result in you losing all the investment you put into getting them into the country.
So before you decide what to import, you must ensure you have the complete licenses and permits to bring those goods in.
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12. Obtain Full Licences From The Countries You’re Going To Be Exporting To Or Importing From:
Just as you’re to obtain the necessary licenses to import certain types of goods into the country, you’re also required to obtain the required license in whatever country you’re exporting your goods to.
Not complying with this can result in a loss of investments and possible prosecution in the said country.
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13. Verify Your Products Are Not On The Prohibited Goods List:
This is a very important part of running an import and export business in the country. Every product that you import or export must be cross-checked thoroughly to ensure they’re not on the “prohibited goods list”. Importing or exporting goods listed in this category will most certainly get you arrested and probably prosecuted.
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14. Get Your Insurance Covered:
Always pay an insurance premium for any product that is exported or imported, so you can recoup your investments in the event that the goods get damaged or worse, while in transit.
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15. Partner With A Freight Forwarding Service Company To Ship Your Goods:
Lastly, find a good freight forwarding service company (shipping company) to always ship your goods with.
They’re usually very experienced and have faced almost all types of issues you stand to face when running your business.
Their years of experience spent running their businesses will provide you with valuable information, especially on what type of items to export, import, or totally avoid.
A shipping company that has been in the business for many years is usually a better choice to go with than new companies that have lesser experience and have shipped products to fewer countries.
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