SIC Inventory Inventory will be controlled by indexing the products as they are brought in and as they are sold. Central's tracking system will tell the management what merchandise is in stock, what is on order, when it will arrive, and what was sold. With such a system, Central can plan purchases more intelligently and quickly recognize the fast moving items we need to reorder and the slow moving items we should mark down or specially promote. Inventory will turn approximately 6 times a year.
Importing Food Fish Products into Nigeria Understanding the legal and regulatory requirements that govern product registration is fundamental for businesses looking to import fish products into the Nigerian market. All products regulated by NAFDAC must meet the same requirements, whether imported from abroad or produced domestically.
So what does the importation business plan of registering fish and fish products entail? Which is subject to the Fish Inspection Act and Regulations. Import permits are required for susceptible species of finfish, molluscs, and crustaceans.
These creatures must meet the import requirements to enter Nigeria. The process of registering imported food products involves four stages: At the Documentation Stage; a.
Either document must be notarized by a Notary Public in the nation of manufacture. Others include Chairman or President of the Company. Certificate of Manufacture and Free Sale which has been authenticated by the Nigerian Embassy in the nation of manufacture.
If there is no Nigerian Embassy in the nation of manufacture, the Certificate of Manufacture and Free Sale ought to be authenticated by whatever other embassy or high commission of any commonwealth or West African nation.
Comprehensive Certificate of Product Analysis issued by the manufacturer. Federal Ministry of Industry, Expired License for product renewal.
Application letter for Import Permit by nearby representative. Properly completed Fish Registration Form. Two product labels intended for registration. For example, the agency requires that the ingredients must be listed by their normal names. This has to be in order of their predominance by weight unless the fish is standardized.
In which case the label must include just those ingredients which the standard makes not compulsory. This article is intended to provide general information about the subject matter. Professional legal advice ought to be searched for about specific circumstances.
Nigeria is said to be the highest importer of frozen fish on the planet. The constraints hampering development of intra-regional trade in fish products must be removed.
It is by this move that we will be ableto realize the enormous potential in the business. Specifically, progress must be made in: Respecting hygiene and quality standards for processed products specifically; Improving infrastructure and equipment for the handling, transport, storage and preservation of fresh, frozen or processed fish products; Providing more and better information on trade rules and potential markets; and Creating a more secure business environment conducive to the development of sub-regional trade.
Import fish on a commercial base — Basic Guidelines About importing fish on a commercial base To import fish, like marine fish for profit, you should apply for a permit. You can get this from the Ministry of Agriculture, Forestry and Fisheries. An import permit is legitimate for six months from the date of issue.
Failure to adhere to permit conditions may result in the suspension or cancelation of the permit. Complete the application forms by providing the following information: The normal and botanical names of the fish species. The quantities of fish species you need to import.
Attach the following to the application forms: Certified duplicates of legitimate import permits from the Department of Trade and Industry or International Trade Administration Commission permit notification.
The original tax clearance certificate from the Nigerian Revenue Service. We work really hard and put a lot of effort and resources into our content, providing our readers with plagiarism-free articles, original and high-quality texts.
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With complete sample plans, easy financials, and access anywhere, LivePlan turns your great idea into a great plan for success. How to Start Mini Importation Business in Nigeria - Are you currently unemployed and tired of trying to make ends meet by borrowing from friends and family or employed and looking for a side hustle to buttress your income?
Congratulations because in this article you will be shown how you can start an importation. The closest import/export business of Mexican products is in Detroit, Michigan, some 20 miles away. Livonia is an urban city of approximately , people, which is also located in Michigan containing approximately 9,, people.
John-Paul Iwuoha is an author, impact entrepreneur, business strategist and founder of Smallstarter Africa. He works with entrepreneurs and investors to start up and grow businesses in Africa.
His work and articles have been featured on several local and international media, including CNN, The Huffington Post, The Africa Perspective . Nov 19, · This informative business binder provides the essential knowledge you need to plan and start an import/export business.
It covers such basics of import export businesses as location considerations, facility requirements, personnel needs, legal requirements, finance, marketing, operations, and more/5(2).
How to Start Fish Importation Business in Nigeria: Stand in the Gap Today. Bridging the fish demand and supply space in Nigeria requires a ton of commitment from the government and other stakeholders.
It is hereby a clarion call for people to come and invest in the fisheries sub-sector to make it work.