Why import matters to a first-time founder
Importing can add duty, tax, clearance, product-safety and documentation obligations beyond the supplier’s price. Delays or incorrect classification can stop stock and consume cash. Founders should identify the importer of record, meaning the party legally responsible for entry, before agreeing delivery terms or promising customers a date.
Examples of import
A UK retailer buys 500 lamps from Turkey for £20 each. Before ordering, it confirms the commodity code, safety documentation, origin, import VAT, duty and freight responsibility. Its landed-cost model totals £14,200 rather than the £10,000 invoice price, changing the minimum viable selling price.
Common misunderstanding
An import is not limited to physical goods in every legal or statistical context; services and digital supplies can cross borders too. Paying overseas does not alone make the buyer the importer of record. Delivery terms allocate certain costs and risks, but they do not override customs, tax or product rules.
When to use it
Use import when goods or services enter a country for sale or use, then name the route, product and responsible parties. Check current customs, sanctions, tax and safety requirements in every relevant jurisdiction. Never misstate value, origin or classification to reduce duty; that is unethical and may be criminal.