Whats the minimum funds needed to start up a import-export business in the uk?
Want to start a import-export business and was wondering to sort of funds i would need to start up.
If you are starting up as an agent working on a commission basis, you do not need any form of funds as your profit is paid by the exporter / importer.
You will only require funds if you actually purchase items for re-sale
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Difficult to say, without knowing how you plan to run your business, and what type of products you are planning to import or export.
If you are planning to actually trade in products (ie actually purchasing goods then reselling them to clients), you will obviously need to fund the costs of buying & possibly holding stock. How much stock you would need to buy, and what that costs, would depend on what products are involved, what values, how much stock, etc. If you are planning to buy from overseas & import, you may need to pay in advance for products bought from overseas suppliers, and finance the purchases while they are transported from wherever (up to 4 weeks from Asia by sea), not to mention holding stock and financing the sales (credit for your client).
If, as a previous respondent said, you are planning to act as an agent, and not actually purchase goods, but live off sales commissions from your suppliers, then you wouldn’t have the cost of purchasing.
Whatever business model you choose, you would obviously have to be able to fund your the start up of your business, and sales & marketing expenses etc.