Address Import Compliance to Avoid Penalties, Spur Business Growth
This Thursday, I'll be speaking as part of a panel at World Trade Center Buffalo Niagara's (WTCBN) seminar on Import Compliance. Special thanks to Erin Cole, president of WTCBN, for inviting me to participate.
If you've been following this blog, or have caught any of my presentations in Buffalo, Cleveland, or recently at this month's CoffeeFest in Atlanta, you'll know that customs compliance is a key topic of discussion for Welke Customs Brokers, both our U.S. and Canadian operations. That's because if you're an importer into either country, it should be a key topic of yours, as well.
There are two facets to customs compliance that should be considered. First, proactively ensuring that your import processes are compliant with Customs regulations can help you avoid costly - and often debilitating - penalties down the road. No one believes that they're going to be audited, but when it happens to you, if you're not compliant (whether it's deliberate, unintentional or you received bad advice), the penalties can be pervasive.
The other piece of integrating sound compliance practices into your import processes is the firm understanding you'll develop and your operations. This exercise often leads to the identification of opportunities to optimize your supply chain or even save money. Programs such as NATFA and other free trade agreements can be invaluable tools for importers that are often overlooked.
When addressing compliance, Welke Customs Brokers helps you not only understand and fix your Customs liabilities, but identifies where import and export programs can help you grow your business. For an overview, check out Thursday's seminar with WTCBN. Hope to see you there!