How to start business in New Zealand?

How to start a business?

  • I want to start a small business but i dont know which steps do i follow. I want to import products from china and sell it in my country (New Zealand). As a start up i dont want to ...show more

  • Answer:

    Starting a business involves planning, making key financial decisions and completing a series of legal activities.

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As you are university student i know you don't have enough money to invest I suggest you to go to aliexpress and see the item there. What you can import from that site and sell in new Zealand. You can even get 1 piece also so you can test product before ordering in Bulk. For new Zealand check out Home security GSM alarm system running good now a days. best of luck.

benjamen

Do your own research on product as you'll need to know how to source things for yourself anyway. There is a company register website which requires a small fee I recall to register a company. You can do that or import as an individual if the people you are buying from will do that. I'd advise to start as an individual until you know what you're doing. Filing company tax/gst returns is not something you want to bother with when you're not making a lot. I know of people who do something like park a shipping container on their property and sell from it. Or you can convert your garage into a business/warehouse space. I've bought things off trademe and picked them up from people who parallel import. One guy was importing things like shelf brackets and draw sliders. It's amazing what big shops like mitre 10 and Bunnings don't sell. His prices were also cheaper than the stuff I saw in the chain stores. Stay away from electronics unless you have a trusted contact in the source country, warranty issues are going to be a problem.

cernunnicnos

If you want a successful business, You HAVE to invest a lot of money. You need to set up a company, -that requires legal fees; you need to get an import/export licence, - that's another fee; you need to rent a warehouse for your stock. you need to make contracts with suppliers from China, and a supply chain, --more legal fees, and probably a trip to China to meet and organize potential suppliers; you need to have money to pay for supply and delivery of the stock, - they are not going to let a new buyer have it on credit; you need a distribution network for delivery of sales; you need to pay for advertising; unless you have a full grasp of the accountancy you will need, you will have to hire a bookkeeper and an accountant. Then you will need enough money to cover all these expenses for however long it takes for the business to start profiting, -- on average for a new business, be prepared for that period to be about two years, at least. That's all for starters. Oh, --- and don't forget, you will have no time to waste on university studies, -- you will need to initially work 16 to 20 hours a day, 7 days a week to get the company off the ground. Good luck in your venture.

justme

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