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Lefkofsky Talks About the Need for More Empathy

Lefkofsky Talks About the Need for More Empathy People who have success in the realm of business innovation, like Eric Lefkofsky, may ...

10 Ideas For The Most Lucrative Side Hustles


 10 Ideas For The Most Lucrative Side HustlesDo you need to make some money on the side? Well, you're not the only one. If your day job isn't enough to pay the bills, you've got to do something. When you have extra time, making extra money isn't impossible. Please continue reading to find out how to make money on the side.

1. Take surveys on the Internet 

If you're interested in making a couple of bucks, take surveys online. Organizations recruit new members from around the globe and they don't hesitate to pay to get insights into consumers. This is because it's crucial for them to boost their products and services, not to mention their marketing strategies. A few of hours sitting and clicking little bubbles is an easy path to become rich. Sign up with more than one site. The outcome is that you can take several surveys and you can select the most profitable options.  

2. Drive for Uber 

Uber provides you the opportunity to make money quickly. If you got a ride that meets the vehicle requirements, you should consider becoming an Uber driver. You're able to turn on and off your availability through this network when you want. It's true that you must pay a service fee to the company, but you get to keep the fees. More rides equal more cash, so make sure you're driving smarter and not waiting around for fares. Know when people are on their way to work and when they're coming back. Most importantly, avoid busy areas. Don't waste your time and gas. 

3. Manage social media for small firms 

Many firms use social media to market their businesses. This takes a great deal of work and they don't have enough time on their hands to manage social media account. Why don't you do it? Doing social media for small firms can be a lucrative affair. You'll no doubt find organizations to pay you for posting on their social media accounts. You can do inspirational quotes or simply update the profiles with relevant content. The client will offer a list of ideas and you'll pick the ones you like best. 

4. Apply for a business credit

So, this cannot be qualified as a method for making money, but it's worth considering when you need money. Get a credit card. Not only can you save money, but the credit card offers you purchasing power. You can make purchases that you wouldn't otherwise be able to afford. What is more, you receive discounts and other benefits. It's always a good idea to choose a reputable financial institution. Not all offers are the same, which means that they come in different rates, features, and advantages. Be careful. 

5. Create an online course

Entertainment and socialization aren't the only reasons why people go online. The Internet is a great learning resource, offering nonstop access to information, knowledge, and education. Take advantage of people's need for information and instruction. More precisely, create an online course and sell it. Thanks to advances in technology, it's easier than ever to create your own course. What you should do is find the right idea, look for paying customers, outline your course, and, last but not least, build it. Give people small chunks of information and teach them basic things, if you want them to keep coming back to you. 

6. Trade Forex


Trading Forex is a excellent way to supplement your income and avoid boredom. Don't bother with the demo trading and jump right into the big profits. Since you have a 9 to 5 job, you'll have time for trading in the foreign exchange market early in the morning or late in the night. At this time, higher volumes occur, which can be what you need. When you're sure you can trade currency pairs, start looking into Forex & CFD brokers. Find the best person to assist you with conducting your trading activity. You can deploy automated trading programs if you like. Actually, it's recommended to use technology in the trading process, as it can help you maximize your profits. 

7. Sell old books on Amazon

If you're an avid reader, chances are that you have some old books lying around in the home. Why don't you sell them? Old books are valuable. If you've got a first edition, you can sell it for a great deal of money, that is if you can to let it go. Anyway, you can make it work. As a seller, you have two options: fulfilled-by-merchant and Amazon vendors. When it comes to the first option, you pack and ship the items yourself. When it comes to the second option, you sell your inventory directly to an Amazon vendor. If you need to get rid of numerous books, it's best to sell to Amazon sellers. 

8. Become a freelance proofreader

The amount of money that an online proofreader can make varies. You can expect to many anything between $25 and $45 per hour. Reach out to website owners who need help proofreading the content. You'll identify and rectify punctuation, grammar, spelling, and vocabulary errors. If you have good writing skills and a good command of English, this will be a piece of cake. Take on a proofreading gig from time to time. If you prefer to work for yourself, create an account on Upwork. 

9. Walk dogs

Do you love animals? If the answer is yes, walking dogs is the job for you. You can do this in your spare time. Walking dogs for income can bring approximately $2000 per week. There are many benefits to becoming a dog walker. In addition to the fact that you can get a little bit of exercise, you get to spend more time with animals. The workplace is relaxing and all you have to do is make the dogs happy. Plus, you get paid for it. 

10. Become a chef 

If you know your way around the kitchen, you're in luck because you can make some extra money. There are several opportunities available for you, so don't be afraid to put your cooking skills to the test. If you don't like the thought of teaching cooking classes, sell what you make. You can cater for important events, such as weddings or anniversaries. Will you have any clients? Sure, you will. As you know, people are always looking for new ways to save money. What is more, your food is delicious as compared to what they cook in restaurants. 
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FAQs on Importing from China to Nigeria

 We cannot end this guide without looking at the Frequently Asked Questions by our client and the feedback we have given them.

Here is a look at these questions.

Presidents of China and Nigeria

Presidents of China and Nigeria

1) Who has the responsibility of ensuring that there is compliance with SONCAP regulations?

The party that bears this responsibility is you the importer of your goods into Nigeria.

You need to undertake this compliance procedure in China before exporting your goods to Nigeria.

2) What happens if I fail to claim my imports?

Failure to claim your imports once they arrive at the port past 12 months will lead to the customs seizing and auctioning them.

3) What is the meaning of Manufacturer’s Certificate of Production under the destination inspection scheme?

The Manufacturer’s Certificate of Production is a document that indicates the level of standard of production of your goods in a while in China.

Such certificates include Nigeria Industrial Standards (NIS), British standards (ISO) and DIN.

4) What is a Risk Assessment Report (RAR) and what is its function?

RAR refers to a document that indicates the level of risk that your import posses your scanning company will generate this report after considering some factors.

Such factors include Antecedent of the importer, antecedent of the exporter, types of goods and country of supply.

The function of this report is to enable the Nigeria Customs Services to determine the intervention level of your goods requires during the inspection.

5) Is it possible to register my trademark in Nigeria and start selling my products if the Chinese authorities issue their approval without getting NAFDAC approval?

No. you need to have a NAFDAC permit when you are importing your goods before you start selling them in Nigeria.

You will also have to get a permit to import samples of your imports.

We would like to hear from you in areas you would want clarifications or comments about the guide.

Get in touch with us today, and we will gladly offer our timely assistance to you.

6) What happens if my imports don’t comply with the SONCAP certification?

In case your goods don’t meet the SONCAP certification process, the customs will reject them at the port of entry.

You will therefore not get your goods into Nigeria.

The customs will then hold your cargo to allow for further testing.
If they fail to meet the standards, you will be forced to re-export the goods back to China.

Of importance to note is that you will be expected to bear all the cost while this is happening.

Conclusion

As it has turned out, importing from China to Nigeria is quite an easy process.

However, for you to be successful in importing, you need to follow the regulations that are in place.

The regulations include understanding the customs process as well as having the necessary finances to import.

You can facilitate your importation by hiring the right forwarder to assist you in importing your goods from China to Nigeria.

I believe you will make the right decisions when importing from China to Nigeria.

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How to Import from Alibaba to Nigeria

 Alibaba is one of the ways you can use to import your cargo from China to Nigeria.

It is an online platform that enables you to engage with your potential suppliers.

But how do you go about while importing from China to Nigeria?

Here is a look at how you can import from Alibaba to Nigeria

1. Identify a product

The first step you need to do is to identify a product that you want to import.

This is essential as it will give you an idea of the market that you want to venture into for your imports.

It will also give you an idea of the kind of the suppliers you want to supply your goods.

There are several ways that you can come up with the product that you want to import.

For instance, you can check on the top imports and select a product that you can import.

2. Search for potential suppliers

Once you have identified a product that you can import, you need to look for suppliers for that product.

With Alibaba, the easiest way you can search from suppliers is by checking on the reviews they have.

A supplier with high positive reviews implies that their services are of high quality.

Sampling such suppliers means that you can have positive suppliers to pick.

3. Interact with your suppliers

After coming up with possible suppliers, you need to interact with them.

The purpose of this is to help you come up with a single supplier for your goods.

Among the areas you can interact with your suppliers include the MOQ, the delivery time and the cost of your goods.

You can also use this opportunity to negotiate with them to have favorable trading terms for your imports.

4. Consider your budget

Nothing is more important when importing from Alibaba than finances.

You need to check on your finances to ensure that you have the needed amount for you to make an importation.

Your budget needs to factor in the cost of your product, the shipping cost as well as the cost for your import duties.

Failure to have enough budget to cover all these may lead to complication on your importation.

As a tip, always consider having a budget that is more than the actual cost of your product.

5. Select a supplier

You can now go ahead and pick your preferred supplier who will supply your goods.

Negotiate with the supplier to have your goods within a specified time that won’t disrupt your schedule.

6. Selecting the port of origin and destination

Depending on your location in Nigeria, you need to choose a port that is convenient for you.

Consider selecting a port of origin and destination that has a shorter distance.

Also, select a port that is close to you to minimize your shipping cost.

Other than this, you can select a port that has a few port charges which will cut your shipping cost.

You can also select a port that can handle your shipment.

This includes having the facilities to handle your cargo conveniently and faster.

7. Picking your goods

You can now pick your goods at your port of destinations once your supplier ships them through your forwarder.

By using a customs broker, you will have to clear your goods which includes paying the applicable taxes.

Also, proper documentation needs to be in place to ensure that you have complied with the customs regulations

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Importing from China to Sell Online in Nigeria

 If you are an online business person, you might be asking yourself how you can import from China and sell online in Nigeria.

This is an important question especially in this digital era where your online marketing is taking root.

Jumia Nigeria

Jumia Nigeria

To assist you with this here is at the steps you can follow to import your goods from China and sell them Online.

1) Register your business

You need to operate within the laws of Nigeria, as such, the first step involves registering your business.

For this to happen, you will need to have a business name.

The government authorities will issue you with the necessary permits for you to start your operations

2) Choose your product

You will have to identify which product you want to import from China.

Depending on your market niche, there are different products that you can select.

You need to select goods that are unique and in high demand in Nigeria.

This will reduce your inventory cost and help you increase your profit margin.

3) Source for manufacturers and suppliers of your goods

After identifying a product, you can now go ahead and source for suppliers for your product.

There are several ways you can achieve this including online marketplaces or using a sourcing agent.

You can also visit the manufactures in China.

Whichever the method you choose, you need to be sure of the quality of your goods.

4) Negotiation

Once you have your supplier, you can negotiate with your supplier concerning your product details.

This can be regarding cost, MOQ or the delivery time for your goods.

The purpose of doing this is so that you can get favorable trading terms for your goods.

You can negotiate either directly or through your sourcing agents.

5) Have an online platform

You can now engage in an online platform where you will sell your goods.

There are two ways you can do this.

First, you can engage well established online platforms like Jumia or Alibaba to sell your product.

By choosing this, it minimizes your online cost.

The other way is by you establishing your online platform where you can engage your clients.

This process may involve the cost of you establishing the platform.

6) Marketing

No business can succeed without marketing itself.

As such, you need to attract customers through creating awareness of the products that you are selling as well as where they can find your products.

There are several ways you can achieve this including traditional methods like one on one basis.

You can also choose an online platform to create awareness of your product.

Whichever method that you pick needs to translate into sales at the end of the day.

7) Selling your product

Clients will be attracted to your products, and they will want to buy.

It is up to you to select a preferred method of selling your products.

For instance, you can select pay on delivery where you deliver the product, and the client pays you.

The method of selling your product needs to be secure both for you and your client.

8) After sales service

Your relationship with your customers need not to end once you have sold them your products.

You can offer after sales service such as a warranty for the products.

By doing this, your customers will be satisfied with you and even refer more customers to your platform.

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Shipping Imports from China to Nigeria

 If you have ordered your goods from China, shipping to Nigeria, the option that you have is to ship them to Nigeria.

The choice of which shipping option to use will depend on several factors.

For instance, the shipping method that you use will be affected by the urgency of your goods.

If you are in urgent need for your goods, you will have to pick a faster option.

COSCO Shipping to Nigeria

COSCO Shipping to Nigeria

Also, you will have to consider the volume of your goods.

There is a limit to the number of goods you can import using different shipping methods.

The other factor you can consider is the nature of the goods that you are importing from China to Nigeria.

There are some goods which cannot use certain shipping methods.

You basically have two shipping methods that you can use to import your goods from China to Nigeria.

That is air and ocean Shipment. Shipping your cargo via air is the surest way of importing your goods within a couple of days.

Though it might cost you more, there is a guarantee of having your goods faster.

However, you cannot import everything using this mode.

For instance, there is a limit to the volume of goods that you can import to Nigeria from China.

You can, therefore, nit import bulky goods using air.

Qatar Cargo

Qatar Cargo

Also, there are some goods that you cannot import via air; they include certain hazardous cargo.

You, therefore, need to confirm with your forwarder before importing your goods.

Generally, you can import expensive items like jewelry and urgent cargo such as samples using air.

On the other hand, ocean shipment is ideal if you are importing bulky goods.

The cost of shipping using the ocean is relatively low than when you are using air.

The disadvantage you have with importing via the ocean is that it will take you longer for your goods to arrive in Nigeria.

The duration can be from a couple of weeks to months.

If you don’t have a tight schedule with your order, you can conveniently use this mode of shipping to import your goods from China to Nigeria.

Depending on the volume of your goods, you can ship your goods under LCL or FCL.

If you can fill a container, then FCL is your option.

On the other hand, if you are importing a small volume of your goods, then you can use LCL.

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Importing from China to Nigeria Payment Terms

 There are several ways you can use to pay for your import from China to Nigeria.

However, not all these payment options are secure for you to use.

Nigerian Nira

Nigerian Naira

Whichever method you choose for payment of your imports, needs to be secure and one which you pay for goods that you ordered.

Some of the factors you can consider when selecting a payment option include the relationship between you and your supplier.

You can also include the risks of using the payment option, the hidden charges for using the option and the speed of using the option.

Let’s have a look at the commonly used payment options that you can choose to pay for your imports from China to Nigeria.

· Telegraphic Transfer

Telegraphic Transfer is an electronic method of making payments to your supplier or manufacturer in China.

Under this method, you have to make payments first before your supplier delivers your goods.

You need to remember that you will bear maximum risk by choosing to use this option for your payments.

The risks involved include your supplier not delivering the goods after receiving the payments.

HSBC Telegraphic transfer

HSBC Telegraphic Transfer

Also, they can deliver poor quality goods. Another risk to remember is that there is no recourse once you have completed the transaction.

The use of this method is, however, not common in international trade.

If you choose to use this method, be very careful.

· Western Union

You can conveniently use this method if you are conversant with your supplier. If you are a new importer, you need to refrain from the use of this payment option.

The advantage you have with this option is that you have a quick money transfer from your supplier.

However, the disadvantages of this method are many.

For instance, the charge for using western union is high.

Meaning that you will pay more for transacting via western union.

The method is also prone to scammers who may lead you to send your payments to the wrong address.

Again, with the use of this, method, you don’t have a resource path in case of anything going wrong.

· PayPal

You can use this method especially when you are ordering samples or when you are importing a relatively low volume of goods.

If you compare with Telegraphic Transfer, PayPal is more secure for you.

The disadvantage you have with this method is the high charge that it has.

You will pay a higher transaction fee for using this method.

Also, with the fluctuation in the exchange rate, you are likely to factor this to your supplier when sending the payments.

This means that you may end up paying more than the actual value of the goods.

· Alipay

A sister company to Alibaba, Alipay offers a more secure way of making payments for your goods.

This is more so if you order your goods via Alibaba.

Alipay

Alipay

Under this method, there is a guarantee of the quality and quantity of goods that you order.

There is also a guarantee of your supplier of their payments.

· Escrow

You can conveniently use this payment method to pay for your imports from China to Nigeria.

Under this option, your payments are held by a third party who only releases them after you have confirmed the receivership of your goods.

Escrow

Escrow

Your supplier also has a guarantee of receiving their payment since they will also provide proof of delivery before being paid.

· Letter of Credit

Perhaps the most secure method of payments when you want to import your goods from China to Nigeria.

Letter of credit

Letter of credit

Under this method, your commercial bank undertakes to make payments for your goods once your supplier delivers them

This method is convenient to both you and your supplier.

Your supplier won’t have to worry about the payments as your commercial bank will take care of that.

You, on the other hand, won’t have to worry about the quality and quantity of goods since you can always involve your bank to delay the payments.

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Know Nigeria Import Customs Clearance Procedures

 Understanding the customs procedures when importing from China to Nigeria will help with the faster clearance of your goods from China to Nigeria.

Nigeria Customs Service

Nigeria Customs Service

Not following these procedures would mean paying fines for delays in clearance and having to wait longer at the customs.

If you are in the importation business, this is something you don’t want to happen to your importation.

To help you in understanding this, here is a look at the details involved.

· Nigeria import regulations

Let’s go through the important import regulations that you need to consider when importing to Nigeria from China

You will be required to submit a dully completed e-form M electronically to your dealer bank which must be authorized by the CBN.

You must attach this with the following documents

Proforma Invoice, insurance certificate and the necessary regulatory certificate such as NAFDAC or SONCAP.

Certificate of incorporation

Certificate of incorporation

There are some original documents which you will have to submit to your dealer bank before the validation process takes place.

Your dealer bank will do the following after they have received the duly completed copy of the e-forms.

First, they shall check the forms to ensure that you have filled them properly.

They will then have to compare the forms with the original documents.

Once the customs finish, they will validate and transmit your e-form to the Nigerian Customs Service (NCS)

· Import marking and labeling requirements in Nigeria

First, you will have to ensure that your supplier labels your imports in English before importing them.

You will also have to indicate the country of origin which in this case is China.

Sample product labels

Sample product labels – Source: Marevick Label

When importing perishable goods, you will need to indicate the date of manufacturer and expiry of the goods.

Also, on all imports, you need to indicate the name of the product, the batch number, and their specifications.

Always remember to remind your supplier that they have to indicate the standards for producing the goods.

Electronic equipment that you import to Nigeria must include the instruction manual and a warranty of at least six months.

They should also have safety signs or information where applicable.

· Quality compliance in Nigeria

You will have to be issued with a Certificate of Conformity by SONCAP when importing to Nigeria.

You can obtain this certificate from an accredited firm.

There are three levels of SONCAP certification that you must adhere.

These levels are known as routes.

Son Homepage

Son Homepage

Let me explain these routes for you and depend on your products.

· Route A

You can use this route if you are importing unregistered or unlicensed products.

You can also use this route if you don’t frequently import to Nigeria.

· Route B

If you are importing registered goods, then you can conveniently use this route to import your cargo.

Also, if you are a regular importer and you have frequently complied with the quality system in place, then you can use this route.

· Route C

If you have shown consistency with the compliance of route B, you can apply for your goods to be certified under route C. mainly the goods that are certified here are the licensed products.

· How to get an import license in Nigeria

The important thing before you start importing is to obtain an import License for your business.

This is a license that permits you to import your cargo from China to Nigeria.

The following are the guidelines you will follow when seeking an import license for your business.

The first step involves registering the name of your company in Nigeria after which you will give you a certificate of incorporation.

You can do this by registering with the Federal Inland Service (FIRS) where you will be given a Tax Identification Number once you have paid tax.

You need to open an account with any commercial bank of your choice in Nigeria.

It is this bank that shall act as your dealer bank.

Central bank of Nigeria

Central Bank of Nigeria

Your dealer bank will process your forms for you including e- form M and act as a link between you and the Nigeria Customs Service, you and other parties to your imports.

Remember that the e- form M is an important document when importing to Nigeria as the customs use it for statistics and other functions

You will have to get the necessary permits such as SONCAP or NAFDAC depending on the kind of gods you are importing.

After completing the above steps, you will have to register as an importer on the Nigeria Single Window Trade Portal.

You can locate this portal on the FIRS site.

The purpose of the portal is to facilitate the import procedure for your goods.

It does this by linking the government, you as an importer, your forwarding agent and your supplier in China.

Depending on your imports, there is three import categories procedure that your imports will have to follow.

You can have a one-time registration procedure which will make you an importer in Nigeria.

You can also have a special import license to import certain goods to Nigeria.

Lastly, you need to have a certification like SONCAP or NAFDAC or any permit as prescribed by the Nigeria Customs Service.

You will only start your importation from China to Nigeria after you have completed the above procedures.

· Documents required for importation in Nigeria

Proper documentation is a key element if you want to have a successful importation of your goods.

Lack of these documents may lead to you paying higher fines as well as a delay in you getting your cargo.

Here are the important documents that you need to have when importing to Nigeria from China.

1. Form M

Form M is a mandatory document that you must have when you are importing into Nigeria from China.

You can obtain this document from the Central Bank of Nigeria through your commercial bank.

From M

Form M

The requirements or obtaining this document include a proforma invoice and an insurance cover for your imports.

Remember to source for the insurance cover locally.

You will also have to submit your Taxpayers Identification Number (TIN).

You can access the document through the Federal Government of Nigeria Single Window for Trade portal.

The importance of this document is that it enables the customs to monitor the importation of goods into Nigeria.

It also aids in the collection of taxes and duties.

The content of the document includes the Harmonized code for your import duty and the total amount that you need to pay.

2. Insurance certificate

An insurance certificate is an important document since it covers your goods against risks that might occur during importation.

The customs authorities require that you obtain an insurance cover from a local insurance company.

Cargo Insurance certificate

Cargo insurance certificate

Insurance is a compulsory step when you are importing your goods to Nigeria.

3. Agency certificate

Depending on the type of goods you are importing from China to Nigeria, you will need to have an agency certificate.

For example, if you are importing food products, you will obtain a NAFDAC certificate.

NAFDAC Certificate

NAFDAC Certificate

Similarly, if you are importing manufactured goods, you will have to obtain a certificate from SONCAP.

For ease of importing your goods, always seek the services of a freight forwarder on which agency certificate you need to have.

4. Bill of Lading or Airways Bill

Depending on which shipping method you use to import your goods from China to Nigeria, you will need to have a bill of lading or an airways bill.

Your carrier will issue your customs agent with this document.

bill of lading example form Best vic s bill of lading template

Bill of lading

The information on this document include the details of the goods that you are shipping, the details of your supplier and your details.

Your forwarder will use this information as reference when computing your import duty.

Always ensure that the information therein matches the information that is in your commercial invoice.

5. Commercial Invoice

This is a document that your supplier will issue your forwarder which they need to present to the customs.

The information in this document includes the number of products you import, the unit price as well as the total price for the imports.

Commercial invoice

Commercial invoice

Also, it includes the information on the supplier and your information.

The customs will use this document when they are calculating the duty that you are supposed to pay for your cargo.

To avoid complications when dealing with the customs, always ensure that the information in the commercial invoice is accurate.

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