There are at least three situations that every importer goes through when making purchases in China. We are specifically talking about when you are at the stage where payments to suppliers must be made.
This is a key moment, since during this process there may be some inconveniences and also some disadvantages if you do not have the support of experts in international purchases.
In this article we tell you where the common mistake is made in this phase of the import and reveal how it affects your investment and how to solve it, because we are sure you will feel identified.
Multiple payments
This is the key point where the mistake lies: diversifying the payment of purchases in China to distribute it to each supplier. This action leaves you in a less favorable situation. Can you imagine the reason? Well, we give you three.
The weather
On the one hand, there is something that is very cumbersome when managing an import and that is the large amount of time that must be invested in having to make numerous transfers to pay suppliers. This is your case, isn’t it?
That same time you invest in making multiple transfers can be allocated to other areas of your company to consolidate its continued growth.
Not only because of the time, but also because of the risks you run if you don’t make sure you are paying the right factories.
In addition, as there are different ways to pay Chinese manufacturers, this can be a real headache.
The money
The key factor we all want to pay more attention to. However, when it comes to disbursing for various suppliers, the sum of the bank fees that correspond to each one raises the total amount considerably. Did you know that this has a solution?
We are the solution, contact us here!
The competition
Another (very) unfortunate situation that entrepreneurs go through is that the identity of a supplier is discovered by the competition, because they will not hesitate to go for it.
You have invested a lot of time and money in finding reliable manufacturers with whom you have achieved an excellent price negotiation and have been guaranteed the desired quality. Imagine that later, due to an oversight in the handling of your payments, your competitors know your identity and gain access to your same benefits.
This is a huge disadvantage when you are looking to differentiate yourself in the local market with unique, innovative products or when you manage to find the quality you were looking for.
So these are more than enough reasons to understand that this is a very key (and delicate!) import step. We assure you that these are avoidable situations.
Therefore, the smartest decision will be to manage your payments with an expert company in foreign trade that has its own physical office in China and knows the Chinese market inside out. Why? Because that way you can make your international payments with security and guarantee.
What you need are solutions and MingTa Group not only provides them for each of the three situations described above, but also benefits you with our International Payment Consolidation service.
Contact us now to find out. A clue? Great savings and protection.
