Are SMEs losing big by not doing foreign trade? Please keep this guide on import and export rights.

Mr. Zhang has been quite distressed recently. His furniture factory has already gained a certain reputation in the domestic market. However, seeing his peers making huge profits from foreign trade orders while he himself dare not even accept quotations due to the lack of import and export rights.

Actually, there are quite a number of business owners like Mr. Zhang - according to statistics, 90% of SMEs in China have not yet activated this "invisible wealth". Today, let's dissect this golden key that can double business growth.

Why is import and export rights a standard configuration for enterprises?

Having import and export rights means that enterprises can directly participate in international transactions without going through third-party agents. Take the customers served by Zhongshitong as an example. After obtaining the qualifications, Ms. Li's food additive company saw a 18% reduction in procurement costs, and the customer payment cycle was shortened from 90 days to 30 days. More importantly, enterprises can independently control:

• Free receipt and payment of foreign exchange accounts
• Full enjoyment of export tax rebates
• Qualification for AEO certification by the customs

A Guide to Avoiding Pitfalls in the Whole Handling Process

The whole process usually takes 20 to 30 working days and is mainly divided into three major stages:

• Preparation period (3 - 5 days): The business scope of "import and export" needs to be added to the business license, and the registered capital is recommended to be no less than 1 million yuan.
• Approval period (15 days): Handle foreign trade filing, customs registration, and electronic port cards in sequence.
• Implementation period (7 days): Open a foreign currency account and complete the filing with the foreign exchange administration.

Special attention: Since 2023, the "single window" online declaration has been implemented nationwide, but in some areas, it is still required that the legal representative be present in person to handle the electronic port card.

Have You Calculated These Hidden Costs?

Although the official fees do not exceed 2,000 yuan, enterprises often overlook:

• Annual fees for import and export bank accounts (about 1,200 yuan per year)
• Customs declaration software system (3,000 yuan per year for the basic version)
• Document clerk training (5,000 yuan per person)

Zhongshitong suggests that for enterprises with an annual export volume of less than 500,000 yuan, agency services can be used temporarily; for those exceeding this scale, handling it independently is more cost-effective.

Obtaining the Qualifications Is Only the First Step

Just as obtaining a driver's license does not mean being able to drift, it is recommended that enterprises prepare simultaneously:

• Establish a HS code library for commodities
• Familiarize yourself with INCOTERMS trade terms
• Purchase credit insurance

The lesson of Ms. Wang is quite typical: Her first batch of ceramic exports was not insured, and she encountered a bad debt of 200,000 US dollars due to the bankruptcy of the customer.

Is It Time for You to Go Global?

When the growth of the domestic market slows down by 1.5%, the growth of the ASEAN market during the same period is 11.7%. You might as well do a test: If two of the following three conditions are met, it is recommended to start handling immediately:

• There are stable overseas inquiries
• The product has passed CE/FDA certification
• The team has a basic knowledge of English

Remember, the ticket to international trade never expires - but business opportunities do. Leave your industry in the comment section now to get a customized handling checklist!