Must know if you are starting MEP Business- it works in every business

 If you fear, you will get angry, it will create the hate and it is violent.  People fear what they don't understand and hate what they can't conquer. It is a famous saying which is applicable in any field. Not just MEP but every field.

So, if you are entering into the business field and don't know what you are getting into, it might get messy.  you will get paranoids over time.  So, understand the following aspects that you should know before starting. 

1. Understand the government duties and taxes. Vats and customs tarriffs. 

2. Understand the technical aspect in very minute details or know someone who can be trusted to handle any situation.

3. Understand that clients will not pay the money timely. Know that they will not pay when you demand. you will have to bear the interest rate for the money that was used for Clients. It may even surpass the profit from the clients.

4. You are in search of the money. So, you will meet rich people. Rich people are greedy people or vice versa. You will be suffocated to get your own invested money for little profit back. So, know about the type of clients before developing a relation with them.

5. Understand the back biting on your work by competitors. It is inevitable. So, make a strong proof to show your points. 

FOR INTERNATIONAL BUSINESS

6. learn about the HSN code. Know about the purchase order and proforma  Invoice. 

7. Bank Guarrantee. 

8. Proforma Invoice

9. Letter of credit L/C

10. TT

11. Understand the transportation across the borders

12. Agent system in Borders.


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