Shipping plays an important role in International Trade, and Export Portal plays an important role in expanding their business
While most people tend to focus on the buying and selling aspects of international trade, trying to find the lowest prices on the best products from around the world, it’s important to remember that the transportation of those goods is a critical part of the process.
Be it from one town to another or one continent to another, be it by air or land or sea, be it overnight or over the course of a long voyage, freight forwarding is a $2 trillion market. With the internet connecting importers and exporters like never before, there is high demand for shippers to move goods quickly and efficiently. As transportation services become more advanced and reliable, importers and exporters are able to turn higher profits and expand their business operations, thereby requiring even more transportation services, which brings greater success to the freight forwarders and allows them to improve their own operations, and on and on the cycle goes.
However, as lucrative as the shipping industry can be, that doesn’t mean it’s easy.
Between the natural hazards involved with transportation like impeding weather and equipment failure, the human error involved in navigating all the necessary paperwork can cripple those who are unprepared for it. Custom clearances, bills of lading, and tariffs must all be properly accounted for when it comes to shipping, which is difficult when the shifting political climates of different countries involved in trade keep changing the rules.
Kuwait has enjoyed great success with freight forwarding since the government implemented more lenient policies to attract foreign parties, and is calculating even further growth in the years to come. On the other hand, Nigeria’s postponed elections have brought their major ports to a standstill, costing hundreds of millions and disrupting all business caught up in the fiasco.
With so much risk and reward at stake, many platforms and associations have been created in order to aid the entrepreneurs involved.
The British International Freight Association (BIFA) will be launching their Young Forwarders Network (YFN) as a way for new entrants to the industry to connect with one another and apprentice under the more established and experienced in the field. The freight software startup Flexport recently acquired $1 billion in funding, which they plan to use in the development of their logistic technology.
But as we mentioned above about some people forgetting the importance of freight forwarders, these groups appear to be forgetting the importance of the other parties involved in keeping freight forwarders successful.
Thankfully, Export Portal remembers.
Our platform is tailored toward the connection of buyers, sellers, manufacturers, and of course, freight forwarders. We collect all corners of the industry on our network to simplify the distribution of information, thereby facilitating the building of stronger partnerships. By uniting those in need with those who need them all in one place, and offering streamlined procedures for them to conduct transactions, all parties involved can increase their operations and share in their mutual success. What’s more, we’re developing our own proprietary blockchain technology to increases transparency and accountability, ensuring the verified professionals we partner with can enjoy peace of mind as they pursue new clients and explore new opportunities.
Register your freight forwarding business with Export Portal today, and you can start enjoying these benefits as well: https://www.exportportal.com/shipper_description