As an importer, your initial aims include:

• Finding prospective suppliers
• Qualifyingt hem to ensure they are legitimate and suit your needs

Finding overseas suppliers

The Internet has made the process of discovering suppliers easier and dynamic, with B2B websites offering supplier company profiles and online product catalogs, along with the means to contact the suppliers. More staid ways of finding suppliers include:

• Tradeshows
• Trade journals
• Local chambers of commerce
• Government organizations specializing in trade promotion

Some B2B websites allow you to do all of the following in one place, online. You can:

• View company lists from entire industries
• Compare company profiles and product offerings
• Contact potential trading partners
• Post your buying leads and product requests

Qualifying suppliers

There are both formal and informal ways to qualify suppliers. Some informal measures are:

1. How they respond to communication.
One key aspect of suitability is having a partner who shows an eagerness to work with you, which includes someone who pays close attention to their communication with you, whether by email, fax or phone. Check letterheads and content of emails for professionalism and competency. This includes whether they answer your questions you ask them in full or at all. Response time is also important. If they have a website, try to browse sections like "About Us" or testimonials (client references). Try not to judge the competency of a prospective partner by their level of English – their attempt to communicate to you in an unfamiliar language shows willingness on their behalf to do business, along with possible savings on your translation costs.

2. How they respond to requests
Another way to understand whether a partner is suitable is the willingness of the person to respond favorably, and promptly, to special product requests you might have including modification or customization of their core products. If you get past the initial communication stage to something more definitive you also may want to visit their company premises.

3. How their business looks upon visitation
If you have the opportunity and the budget, one of the best ways to gauge suitability is to go to the company's premises, meet the principals, inspect the facilities and view their products and production methods. You can ask them questions which may give you a better insight into their true and current financial situation.

Formal methods

In a more financial and operational context, there are more formal ways to reduce your exposure to risk, which include:

1. Obtaining banking/credit references

• You can always get information on a company's financial situation through national and local credit agencies.
• To check bank references, give your bank:
  • the prospective company's name and address
  • the company's bank name, its address and relevant account numbers
• You will receive a report indicating:
  • how long the company's account has been open
  • whether a given check or instrument can clear
  • the amount of its credit line

2. Obtaining business references

Another way to check out potential partners is to ask them for contact details of other companies with which they have dealt. If they are confident in their commercial reputation, this should not be a problem.

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