Import & Export Trading Company Startup

[shahzaibghumma]

I'm new to this platform and excited to join the community! Recently, I ventured into the world of trading by establishing my own company. Although I come from a family with a strong business background and own rice farms in Pakistan, I'm still navigating the intricacies of the trading process. My focus is on importing rice to the UK, leveraging connections with a few suppliers who express interest in partnering with us.

Despite having registered my company as an unspecialised wholesale trader, I'm seeking guidance on the next steps. Specifically, I'm curious about the licensing requirements, whether a warehouse is necessary, and what certificates might be needed. Additionally, I'm eager to learn about the initial process of importing a container and estimate the capital required for this endeavour.

If anyone on Reddit has experience or insights into the import-export trading process, I'd greatly appreciate your advice and expertise in helping me kickstart this exciting venture. Thank you in advance for your support!

 

[fisicx]

Reddit?

 

[Socio South West]

I am currently booking 40ft containers from SriLanka to the UK at about $USD3700.... this is up from about $USD2100 since the problems occurred in entrance to the Red Sea and transit time went from about 17 days to 34 days.

Hope that gives you something to work with.

 

[GraemeL]

Its not the first container that will absorb cash, its the follow up containers you will need to maintain uninterupted supply to your customers.

Warehousing will depend on how you and your customers (A "customer" is someone who orders any quantity they want, for delivery when they want it) manage the process flow. And I suppose the time it takes for rice to cease to be saleable

 

[Customs Geek]

You will almost certainly need health certificates to be permitted to import rice into the uk.
You will first need to identify the correct commodity code ( which needs to be declared to customs) link attached to the section on rice. There are a lot of different categories for rice which you will need to study carefully to make sure you have the correct code.
www.trade-tariff.service.gov.uk/headings/1006

Once you have the correct code it will open up the duty rates and health certifcation needed.
Rice is also very likely to be examined on import again by border agencies such as APHA and port health to make sure it’s free of any pests or diseases so you need to factor in time delay.

You should also engage a customs agent who will help you with the customs declarations and complexity of importing foods.

 

[Leerich]

I'm new to this platform and excited to join the community! Recently, I ventured into the world of trading by establishing my own company. Although I come from a family with a strong business background and own rice farms in Pakistan, I'm still navigating the intricacies of the trading process. My focus is on importing rice to the UK, leveraging connections with a few suppliers who express interest in partnering with us.

Despite having registered my company as an unspecialised wholesale trader, I'm seeking guidance on the next steps. Specifically, I'm curious about the licensing requirements, whether a warehouse is necessary, and what certificates might be needed. Additionally, I'm eager to learn about the initial process of importing a container and estimate the capital required for this endeavour.

If anyone on Reddit has experience or insights into the import-export trading process, I'd greatly appreciate your advice and expertise in helping me kickstart this exciting venture. Thank you in advance for your support!

Hello friend, if your in Pakistan there’s loads of things too sell over here in uk contract me

 

[shahzaibghumma]

I am currently booking 40ft containers from SriLanka to the UK at about $USD3700.... this is up from about $USD2100 since the problems occurred in entrance to the Red Sea and transit time went from about 17 days to 34 days.

Hope that gives you something to work with.

Thank you so much for your kind help. Surely It's significantly important.

 

[shahzaibghumma]

Its not the first container that will absorb cash, its the follow up containers you will need to maintain uninterupted supply to your customers.

Warehousing will depend on how you and your customers (A "customer" is someone who orders any quantity they want, for delivery when they want it) manage the process flow. And I suppose the time it takes for rice to cease to be saleable

Timeline is definitely one of the thing I wasn't sure about, thank you so much for your help.

 

[shahzaibghumma]

You will almost certainly need health certificates to be permitted to import rice into the uk.
You will first need to identify the correct commodity code ( which needs to be declared to customs) link attached to the section on rice. There are a lot of different categories for rice which you will need to study carefully to make sure you have the correct code.

Once you have the correct code it will open up the duty rates and health certifcation needed.
Rice is also very likely to be examined on import again by border agencies such as APHA and port health to make sure it’s free of any pests or diseases so you need to factor in time delay.

You should also engage a customs agent who will help you with the customs declarations and complexity of importing foods.

Thank you so much for such a kind reply, definitely looking into commodities. Along with that do you think I would need any other licenses apart from being registered as uncategorised wholesale trader for start importing? Also what do you suggest what would be the best way to start since I know few suppliers would I can provide my product to such as Bidfoods, or other wholesale traders? Do I need to get my product to UK first before I get in touch with these suppliers? or otherway around?

Once again Thank you so much for your kind help.

 

[fisicx]

Do you live in the UK? You need to start making contact with wholesalers. Visit their offices and make your pitch.

 

[Customs Geek]

Thank you so much for such a kind reply, definitely looking into commodities. Along with that do you think I would need any other licenses apart from being registered as uncategorised wholesale trader for start importing? Also what do you suggest what would be the best way to start since I know few suppliers would I can provide my product to such as Bidfoods, or other wholesale traders? Do I need to get my product to UK first before I get in touch with these suppliers? or otherway around?

Once again Thank you so much for your kind help.

As I said you cannot import food without export health certificates which must be the correct type for your product. These are needed for every shipment you make. You will need to pay for the certification and also pay for the UK examinations . This is on top on the usual duties taxes and standard clearance fees.
You will definitely need a customs agent so that they can make all the required declarations before your goods can be released from customs. Again they will charge for their services but will certainly help you to get the correct documentation.

When is say commodity code I mean the Harmonised system code that tells customs what your goods are . Without this you cannot export from Pakistan or import into the UK.
Before you start negotiating with potential buyers you need to understand all your costs .