Defining a business idea for establishing an import and export company in Germany
If you do not specify the scope of your company’s services from the beginning, the entry of investors seems unlikely. A business plan is a formal framework for coordinating all business areas in an export-import company.
General conditions for setting up an import and export company in Germany
Check the general conditions in Germany and the target countries carefully: How is the economic development of the target market? Is there a particular ability to plan? Are currency fluctuations worrisome? How are quality standards defined? Is it possible to export or import goods unconditionally? After a short time, you will determine which target market and the product are more desirable for the sustainability of business development.
Professional requirements for self-employment in the field of import and export in Germany
• Strong negotiation skills
• Sufficient experience in trading goods or international payment transactions
• Good business knowledge for managing the company
• Foreign language skills (especially English)
• Mastery of legal knowledge about projected target markets
Business Plan for an export and import company in Germany
In a business plan, you should determine what potential your business can achieve in the target markets and which product will be selected by each target group. You should also specify the company’s unique sales points and the way of financing for the first few years.
Orientation of export and import company in Germany
Are imports and exports in your company to be done in a balanced relationship, or will one of these sectors be of greater strategic importance? To answer this question, look at the achievable margin of profit.
Import and export companies’ legal form in Germany
Legal forms play a significant role in financing and accessing capital. They can also have a direct impact on the transparency and reliability of the company.
Formal requirements for self-employment in the import and export sector in Germany
You have to register your business before starting the commercial operation.
Once you determine the scope of the services offered, you can check whether you need a special License to start your economic activity or not. It depends on the type of product you are trading.
Professional requirements for self-employment in the import and export sector in Germany
Taking a general look at export and import activities in Germany, we can see that the conditions for establishing an import and export company seem favorable. Germany has repeatedly won the world champion title in the export sector. German products also have a good reputation and credibility in the world markets. Furthermore, German consumers welcome product innovations derived from foreign markets.
Independent exporters and importers in Germany should keep in mind that they act as a mediator between manufacturers and buyers. Thus, they should always look at supply and demand comprehensively because even the most innovative product is useless if it has no target group in Germany or other markets.
To have a profitable business in the field of export or import in Germany, a self-employed should have excellent negotiation skills to negotiate prices and contractual cooperation in his interests. In this regard, having excellent cultural knowledge, for example, about negotiation strategies in different countries, can be helpful.
If you do not have enough experience in goods trading or international payment transactions, becoming self-employed by establishing an import and export company in Germany will be difficult. It is also necessary to constantly monitor developments in the relevant markets so that you can react at the right time in case of a wrong direction for business development.
Entrepreneurs who set up an import-export company in Germany have often passed the necessary training as foreign trade employees or wholesalers. In this way, business knowledge is available for company management right from the start.
Having foreign language skills (especially English) at a reasonable level can help you as an entrepreneur in Germany to design the details of the contract legally and reliably or to be able to understand it accurately.
Also, as an entrepreneur in Germany, you need sound legal knowledge about the intended target markets. This legal knowledge is related to essential marketing activities, which may have restrictions depending on your target country.