It can rightly be said that, in economic terms, China has emerged as a true global power. It is still a growing market, developing very rapidly and, as such, has many complexities. So where, in terms of import from China, do the opportunities lie for British companies? Many UK companies are relatively small businesses and some may feel daunted when it comes to "taking on" China. Sometimes, however, it is necessary to branch out and take risks, albeit calculated ones. In the UK, the logistics are simple: if you always buy your goods from established suppliers in the UK, you generally get what you order when you need it.
This is advantageous in terms of both cash flow and stock control. The drawback is that you are likely to be selling goods that are identical to those which are available in all parts of the country. In addition, your profit margins will be weakened by your suppliers' prices, especially if you are a small company, with the best discounts always reserved for the biggest clients. Therefore, to secure better sales and increased profit margins, it will be necessary to look overseas and in today's market, the most obvious solution is to import from China.
To find the right supplier when you import from China can be a veritable minefield, with literally millions of website entries. When it comes to importing from China, it is essential to find a reputable agent, who will be your guardian angel and ensure that the goods you are purchasing are of the right quality and specification. It is possible to find a good agent yourself, although you may find it helpful to approach the trade department of the embassies of China, Hong Kong, Taiwan or Singapore. They have reputable agents on their books and can advise you of their various specialisations. You could also attend trade exhibitions, often hosted by embassies, in order to make useful contacts.
Another way of finding an agent is to approach your local UK trade association. They will have a wealth of information on overseas agencies, as well as other useful advice. If your trade association publishes a monthly or quarterly magazine, make sure you subscribe to it, as there may well be useful advertisements or features on this subject. Another useful source of information and business contacts is international trade fairs.
One of the best known is the Frankfurt fair held each spring, which has four massive floors dedicated to consumer goods and plays host to around a thousand exhibitors. Many smaller companies from China and the Far East exhibit here, the majority being export agents who are looking to do business with European firms wanting to import from China. Other major fairs are held in cities such as Birmingham (UK), Paris, Milan, Hong Kong and Canton. It is advisable to consult with your local trade association, who can tell you the location and timing of the most appropriate trade fair for your business. There can be no doubt that when importing from China, a good agent really matters.
