How to Start Working as Cotton Yarn Exporter?
According to industry experts, Pakistan is one of the emerging countries in basic textiles. This recent news shows the door of opportunity for those, who want to start their business in the current epoch. Now the question that may arise in your mind is that which textile product you should prefer to start a business. Here you still need to consult recent trends. According to updates, the best is to start exporting cotton yarn from Pakistan. Do you know why? There are two major reasons behind this preference, which are somehow interconnected. First of all, you need to know that Pakistan origin yarn is of fine quality, which is why there is a great demand for this textile product in the international market. Latest news is that cotton yarn exports have amazingly increased by 41.6 percent and the value of these exports has also gone up by 32%. Because of this immense need, the best is to start working as cotton yarn exporter. Thus, to start the cotton yarn factory, here are few concerns, which you must keep in your mind:
Register your company
The first step to start working as a yarn exporter requires the registration of your company. Keep in mind that it is one of the most essential things to do in order to start any business in Pakistan. You can register the company on your own and can also hire the services of any lawyer. The recommended approach is to hire the services of any lawyer, because in Pakistan, the registration of companies requires lengthy paperwork.
Get NTN and Sales tax Number
The next important thing is to get NTN and Sales Tax Number. Keep in mind that you will neither be able to get custom clearance nor payment if you will not have NTN and Sales Tax Number. For this purpose, you will have to contact FBR Pakistan. The best part is that now you can forward your request online, as FBR Pakistan is now facilitating its visitors online.
It is vital to understand that when you will be exporting cotton yarn from Pakistan, you will have to deal with payments as well and for this, a bank account will be required. Contact any professional bank and open an account with the title of your company name. Another option can be of letter of credit, as your client may also send you L/C instead of cash payment. The need is just to visit the bank, as from there you will be able to get the complete guidance.
Deal with customs and shipping
Here the recommended approach is to hire any reliable and professional shipping agent if you do not want to face the hassle related to visiting port or standing in shipping line to send your shipment. Conduct various meetings with professional freight forwarders and select the best one that suits your needs. If you will take all required steps carefully then there is no doubt that soon you will become the best cotton Yarn exporter of Pakistan.