When you decide to import from China to New Zealand, you need to take things slow, one step at a time. You will need to think about various different things so the tips that I will present below will surely help you out a lot.
As a huge tip, before we get started, remember that whenever you want to import anything to New Zealand, especially from a controversial country, like China, it is a great idea to work with an experienced freight forwarder, preferably one with a large customs brokerage experience.
Analyze The Local New Zealand Market First
Always start by understanding as much as possible about the market you need to engage in. This should play a huge factor when importing to NZ. There are always different strategies and products that appear in different markets. You have to understand what is available in New Zealand and only when you cannot find good options locally it is time to consider importing.
The good news is that when you are importing from China, there are options available for most possible industries, all at great prices. You can easily find something in the country you will be able to use.
Be Careful With Prohibited And Restricted Imports
Customs regulations and rules need to be fully respected when you import from China to NZ. This always includes understanding what the restricted and prohibited goods actually are. Whenever you have to import restricted goods, there are extra custom laws and regulations to remember. Also, remember that when you import such goods without respecting custom rules, fines or confiscations happen.
Evaluate Import Risks
There are always some risks that need to be evaluated when you import from China and you do not purchase from a local source. You have to carefully analyze all of these potential risks. The most common one is that distance might affect quality. You have to choose the most reliable supplier to avoid this.
It is also possible that you will lose customers because delivery takes too long. In order to avoid this, you need to plan the delivery as early as possible. Basically, you need to be sure that your stock is constant.
Exchange Rate Fluctuations
You buy imports with a foreign currency so you have to properly understand how exchange rate fluctuations will affect your finances. If the fluctuation rate is increased, you end up paying more. Minimize this risk by setting up an account that can easily be used when you have to top up payments.
It is also possible to buy forward coverage. This can be used when exchange rates are fluctuating. Risks could also be transferred to suppliers when you get them to agree with using New Zealand currency for trading.
Conclusions
On the whole, importing from China is all about research and preparation. You need to be aware of the entire part of the process and be extremely careful when it comes to prices. If you hurry the process and you just choose suppliers based on what others do, it is a certainty you will end up faced with problems.
