Top five tips for year’s end
The end of the year and its fever of commercial activity is crucial to the success of many Australian importers, so China Blueprint has come up with five top tips for newbies and/or forgetful old hands.
1. Hedge your bucks now
With the Oz dollar on something of a slide, the time is right to get your foreign currency sorted out for those orders you’re expecting to pay for – and receive – well before Christmas. Our man in Forex says the lowest of the lows are nearly upon us, so stay ahead of the game and book your cash now.
2. Last orders, ladies and gentlemen!
The Christmas consumer season is fast approaching so you’ll need to get your orders in ASAP, especially if you have prototypes to develop. It’s already October and you’ll need four weeks to manufacture and at least two to three weeks to deliver – and that’s not including sample making or contingencies.
3. Freight without fret
Peak season in the manufacturing centre of the entire world is coming up. While half a billion Chinese hit the road this week, they’re more or less a known quantity. Shipping goods around the world for the silly (but very important) season is less so. You don’t want to end up fretting about freight: the viability of your business depends on delivery so be sure to book and pay for all your shipping needs as soon as you can.
4. Next year starts now
Holiday seasons are important for everyone but unfortunately they don’t all happen at the same time. If you want to receive goods in the new year, you’ll need to book your shipping for January as Chinese New Year comes early next year on 19 February 2015. That means another golden week of holidays (think two to three weeks) in China. Plan ahead and avoid the pain of freight fret.
5. Diligence is still due
You’re in a hurry, there’s so much to do in the lead up to Christmas and new year that you forgot to do your due diligence! What? It only takes a day or so to do an inspection, so just because there’s a rush on, don’t forget to do it. Otherwise you could be sitting around the Christmas table pulling a cracker that has no bang, and crucially, no buck.