Starting a small business.

BrainStormer · 21-10-09

Hi all, i am currently (like alot here) very interested in breaking in on the import/export business.
I have been contemplating starting up my own small business possibly as a sole trader for a few months now that i have the capital needed to start my endeavour.
Lately i have been doing alot of research on how things work in relation to import/export, wholesaling and retailing.
The only problem is, there seems to be alot of divided opinions out there on what to do, where to start, and where to go for AUTHENTIC products etc.

I would like to start off my business selling sporting/fashionable apparel & accessories, and also sporting goods. Selling at markets, on my website, and even a little bit on eBay etc.

Being in my position, are there any good manuals or training for say, on how to start up a small business, that would be recommended to a novice like me?
Or are manuals etc a waste of money?

Also i am wondering what licences, permits, registrations would one need to apply for before doing any of the above?

I do plan on seeing an accountant to run anything past him, though im really just after a bit more direction to start with.

One last thing, im sure this has been asked many, many times before, though what really is the deal with wholesale lists and directories?
Me being my skeptical self, im wondering, are they actually worth the money you pay for them?
Is it best to purchase a wholesale list to start off with or COMPLETELY do your own research in regards to suppliers?

It seems that the wholesale list's and reputation is tarnished by bogus or un-satisfying information....? and reputable ones are now extinct or very hard to come by!?

Sorry to go on, if you read this post, thank you!
Any replies would be most welcome!

Thanks,
Brain.

David.Pagotto · 21-10-09

Hello Brain,

I am not aware of any good manuals but I am sure there would be at least one out there, Jamie (Afashonablelife) may have a bit more information about such a manual, I am sure he will pick up where I leave off and reply to your post.

Some of the things you would want to do:
- Register a Business Name
- Register as a sole trader and organize an ABN
- Open a business bank account

In my opinion wholesale lists and directories are a waste of time, Alibaba is the best resource for finding suppliers.

Hope this helps,
Regards Dave

BrainStormer · 23-10-09

Thanks David, sure it helps. I will keep my eyes peeled!

AFashionableLife · 23-10-09

Hello Brain,

Follow David's advice first and foremost.
You need to set up the right entity for your business.
A lot of genuine wholesalers (not fake sellers claiming to be wholesalers) will not deal with you if you are not a registered entity, sole trader is fine.
On the question of wholesale lists...
Personally, I have never spent money on one and really don't understand why anyone would. Afterall, wholesalers need customers too and spend heaps of money on advertising just like other business's, they want you to find them!
I have around 30 suppliers, none of them list with wholesale directories as such.

Speak to an accountant, speak with a freight forwarder and or customs broker for your import clearances.
You do not need a permit of any type to import clothing / apparel etc, prohibited or restricted items is a different case tho.
Ask lots of questions, here especially!

Try to get a small or sample order from suppliers first, better to lose a few hundred or a thousand dollars, than a whole containers worth of stock or cash...

And as with everything in life...if it sounds too good to be true....you know the rest!

Cheers,