It is easy for small businesses to think that only large companies who import millions of dollars worth of goods into the country will benefit from the services of a customs broker. This is a misconception; all businesses, regardless of size, who have to import goods will benefit from using a customs broker. If a small business decides not to use the services of a customs broker, they may well find that one small error can lead to bigger and more severe financial penalties. This article looks at the benefits a small business can gain from using a customs broker when importing goods.
Avoid The Snowball Effect
Businesses that import goods into the country must fill out a large amount of paperwork. While this is not a problem in itself, it is very easy to make a small mistake – perhaps with regards to the tariff classification of goods – which can quickly snowball. A good example is that if a small business fills out the paperwork with just one small error, by the time that they have grown and are importing a much larger volume of goods, they will likely still be using the same information that they used when they first filled in the forms. Financial penalties will be imposed, sometimes very severe penalties, and this will be backdated and applied to all imported transactions. One small mistake can snowball into many mistakes and ultimately lead to large fines. A customs broker will ensure that all of the paperwork is filled out correctly, avoiding this scenario altogether.
Frees Up Valuable Time
There is no way around the form filling and tariff classification of goods when importing items into the country. Some of the forms are fairly lengthy and complex and a person filling out the forms will have to spend time acquainting themselves with the correct procedure. For small businesses, that person is usually the owner. This takes away valuable time from growing the business. Hiring a customs broker allows the business to concentrate on growing, rather than spending time understanding and filling out the forms.
Some of the other benefits of hiring a customs broker include:
- Ensuring that any duty and taxes are correctly identified for the goods being imported.
- Identifying any exemptions that you may be entitled to.
- Recommending which countries to import goods from.
- Streamlining the whole import process.
Ultimately, using a customs broker to help you import goods will help your business to build up a positive relationship with the customs agency. So talk with a professional customs broker, such as those at Hinton McNeil Customs, today.