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Side Business with Full time employment (import from Non EU)

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  • 22-03-2018 1:58pm
    #1
    Meritor
    Registered Users Posts: 39 ✭


    Hi,

    I am currently full time employed. I want to start a very small business of importing handmade items from Asian countries (like India, Vietnam, etc.) to earn some extra quids after office hours and over weekend.
    Currently, I am at initial stage of my planning and trying to identify items that I can sell here. I am thinking of B2B.
    Now, before start with anything, I want to see if the items that I am thinking of importing can earn me money here. I know the price and transportation cost. However, I don't know what other expenses should I consider to calculate final cost of the item.
    I read a few threads here and other places and found that I may need to play Custom Duty and VAT apart from transportation.
    I am not considering warehouse charges as the items is very small in size and I can keep it in my house or may be directly deliver to my customer.
    I read somewhere that I also need to register business as well to import goods.
    I have below questions,
    1. Any information about importing good for B2B and what cost should I add to my purchase price?
    2. Do I need to register a business or something? if yes, what will that cost me?
    3. Anything else that I am missing here?

    I appreciate any input or direction for this.
    All comments and criticism are welcome.

    - Cheers


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