Steps to Start a Trading Business

Ride in the challenging task of starting a trading business. Get to know where to begin from forming your strategies, selecting your product, gathering data, to making your first transaction.

The first step on starting a trading business must include acquiring at least basic knowledge relatively connected to the structure of the industry you want to penetrate.

You must be equipped or even learn the tools in managing it. Hence, it is worth considering as to which set-up format will suit best for starting your business.

First is to select your product or product line. In doing so, it is advised to determine first where your passion lies. Trading requires a lot of dedication and having a strong foundation for putting up the business will do great help. Also, if your trading business is line to what you want and what you know, there is a high possibility that you can handle and run it successfully. However, along with this, see to it that there is an opportunity for succeeding in that line of product, study the trend in the business.

On selecting the product to trade, make sure to have focus on a specific product or product line. This goes especially true to start-ups. Be concentrated first before entering to intricacy of the business.

However, focus does not necessarily mean being narrow-minded. You still have to be open for possible venture or expansion of the business. Have a forecast for your business early on, so you will not be surprised to what else it can be.

After selecting your product, gather as much data as possible. At any given situation, the data you have gathered determine the quality of your decision. You must be careful on analyzing and manipulating the data you have gathered so that it will lead you to proper information that will help you on coming up with decisions for a better direction of your trading business.

It is very important to have in your data the list of possible suppliers and potential clients together with their location and contact details. Once you have a list of your contacts, you may now start you first transaction, which is to sell your business. Trading business is a two way process. You have to sell your qualifications, your experience, and your edge in the market so you have customers in return.

Trading is a very competitive field. Expect some difficulties in getting an agreement done as well as the risk you are gambling in every deal and transaction. You have to build a strong relationship with your supplier as well as your clients. Your suppliers trust you to put their products in the market while buyers expect you to deliver what they need.

After the first positive contact transaction, comes next is to look for buyers. Bear in mind that a successful transaction lies with having good interpersonal skills.

166 Comments

  • ashish agarwal said on July 23, 2010
    chaibasa, jharkhand, india. i want to start a green house project in in chaibasa,so how i should start it. what should be the steps that i should take.
  • kchandrasekhar said on October 8, 2010
    Hi , i am from Bangalore , I want to start Trading Business (Iron Ore) will any idea pls mail me thank u
  • ali haider said on October 13, 2010
    salam i am from pakistan i read your article about trading and interested in doing trading. i just did bba hons recently i do not have any particular knowledge about a particular product. can you guide how can i choose a product to be traded and how should i take step??? kindly mail me. thank you
  • sujitkumar said on December 29, 2010
    my business location s india pune and the product i want to trade is hydraulic and pneumatic rubber seals. orings and other teflon products
  • Prabhukaruppusamy said on March 4, 2011
    i'm dealing with hydraulic spares in tamilnadu, if you are interest mail me Mr.sujitkumar
  • rawaa said on March 18, 2011
    Hi, i am from Canada, i want to start trading business (Beans)to the meddle east , Is there any idea how to start where to look for ,Please e mail me . thank you
  • Mike Magog said on April 23, 2011
    Hi, I have read with a lot of interest your tips on how to start a trading business.I have an MBA qualification and would like to venture into trade in Timber across East and Central Africa. Is there any idea how to go about it?
  • Naseer said on July 9, 2011
    I am from india, and going to starting electrical trading soon, and your tips are useful, pls guide it more precise way. E-mail your tips to naseer117@gmail.com
  • George said on September 3, 2011
    Hi I want to start a trading business in Foodstuff in Goa India. Importing from Dubai, how do i go about it? Do i register a trading company in Goa? Which Dept. to approach? How much does it cost to open a trading co. in Goa approximately?
  • Anzana Prasad said on September 17, 2011
    Hi I am A Prasad from india let me introduce my self worked as Sr. HR in an IT firm. i would like to do trading business which is related to natural mineral resources and have good contacts in india to sell the different minerals to around the globe. Looking out for good and long term business relations with other counter part. I can get good sources in minerals like Iron ore, Manganese, copper etc. and other food products. I like to know whether is there any company or consultants want hire or utilize my experience services and contacts for expansion to do business in India. Please feel free to contact me mail anjanh99@gmail.com
  • G KUMAR said on November 15, 2011
    we are a trading house in mumbai ,India. we generally export Handicrafts items ,pearl jewelery & Leather items ex.premium quality leather jackets etc. If anybody interested pl let me know.email me on virgintraderss@gmail.com
  • demar said on February 6, 2012
    could you guide me as to how to start a trading business in UAE.
  • dipesh dewani said on March 3, 2012
    Hello. My name is D.Dewani. I am planning to open a trading company of crane control gears here in Mumbai. Let me know if there is any takers..:)
  • regina alam said on March 16, 2012
    If I want to start sewing and altering dress business at do I need any permission from city. I live in northeast, usa. Thanks.
  • suruchi said on April 13, 2012
    hi i'm having a pet shop an i want to get in a trading business means invest low an profit more can help
  • narendra kumar said on April 16, 2012
    Hi, i am from Ranchi i want to start Trading Business (iron ore) will any idea please mail me thank u. jharkhand(india)
  • dharmendra k sain said on April 23, 2012
    hi... i m from karauli(Rajasthan).i want to start business of solar energy .so plz mail me if u hav any idea.
  • Subasish Pujahari said on May 27, 2012
    I want to start a trading business in electrical & industrial sector, in odisha so can you please help me out to know from the beginning of business means how i can start and how it will smoothly move.
  • pardeep redhu said on June 27, 2012
    i want to start a trading of electrical appliances & accessories .so please help how can i get trading reg.No., tin no., isi no. etc
  • Rakesh Nagar said on June 30, 2012
    Almora in Uttrakhand in India. Small place but radius of 50-60 km. is having Nanital, Ranikhet, Mukteshwar, Binsar & Misty Mountains. I am having no funds at present with me , all i have to start with financial institutions help. tell me how i can establish a small Mall in this area. tell me what are the Govt. of uttranchal/uttrakhand & Indian Govt. formalities. Now my age is 56.
  • R.D.Rathod said on July 9, 2012
    I want to start trading business for Industrial pneumatic product i.e I will take dealership from an all india distributor , they are importing from other countries. Whether I can operate from my residence or I should have shop. Location - Aurangabad - Maharastra.
  • abdullah said on July 13, 2012
    am mechanical engineer working in government. experience in water projects , hydraulic pnuematica , solar system.. want to start my own business in construction and in trade and Import and export. if any dedicated well experienced interested guy want to share or cooprate or to be partner in the foundation plz contact me at amanh070@gmail.com express your details and info . thx by the way the business can be changed to other field if assuring profitably of project. thx
  • Arun Shukla said on August 3, 2012
    Hello Sir I am planning to start trading of Packaging Products, I just want to know what are the formalities i need to complete for the formation of company. there will be no manufacturing done at our end we will just be acting as a middleman but we have to raise a invoice of our company.. our location is mumbai, maharashtra, india
  • vinod rathore said on September 9, 2012
    Pls. Send me iron ore trading business details and total project details. Thanks
  • jagdish parsad said on September 19, 2012
    hello sir i have trading textiles business. i am confuse how to start a trading business of textiles . sir give me some suggestion in trading business of textiles . how to start and what procedure . thank you, jagdish parsad
  • Zahid said on October 6, 2012
    Hi am Zahid from Lahore-Pakistan, have good experience in Leather garments and leather chemicals trading business, has been working for almost 12 year in this industry, now i want to start my own trading business, can someone help me to develop? thanks
  • Piyush Mukherjee said on December 10, 2012
    I have an experience of 10 years for Iron ore trading. If any body like to consult regarding the same , please mail to me. Feel free to contact vide. 9830503500
  • SANJAY SRIVASTAVA said on December 11, 2012
    Hi , i have 20 yrs of exp. in Marketing , would like to start Online Trading in Medicine....give your tips
  • Prateek said on December 27, 2012
    hi, i want to start the trading business in pnematics in Delhi, can u tell me which product is used maximum in any industries, and please share me ur views how to make contacts from any manufacturing company. thanks
  • Pooria said on January 2, 2013
    Hi there, We are an Iranian producer of petrochemical products. We are going to establish an office in India or an Indian company for starting to do trading in India. We are in feasibility study stage so I'd like to know if it is possible for us to do and to know a good consultant company. Thank you & Best Regards.
  • Sunil.D. said on January 16, 2013
    I am looking for Running Business trading or Small scale Industry in Partnership in our own industrial land in Bangalore-22. India,.Feel free to contact 9845717311.
  • amol dhagle said on January 21, 2013
    Hi, i am looking to start trading business in pune if is there any ideas for same please late me know amol.dhagle@gmail.com. Thanks and regards, Amol dhagle, 9423546234
  • Dr G Mittal said on January 22, 2013
    hi, i am willing to do trading business in medical equipments & consumables in delhi & ncr. I wish to know how to establish a new firm & how to get it registered? please mail me soon....
  • soumen misra said on February 10, 2013
    Respected 'Sir' I want to start my trading business on tea marketing and teddy manufacturing for rural women, i need your help for training of teddy manufacturing, also how/way to start trading business, if there is any govt loan of subsidy then plz give me details about that, i am soumen misra ( MBA Marketing)West Bengal,Midnapur at Ghatal
  • Prakash Chaudharee said on February 10, 2013
    Dear friends, I am in Pune and very much interested in doing business (trading / production). Please let me know if anybody wants to expand in Pune. prakashchaudharee@gmail.com
  • Maurice said on February 18, 2013
    Currently the Managing director of spec-chems consult. we trade on cosmetic, Industrial chemicals in Nigeria. Considering the versed business opportunity we will like represent any good company from India. Any interested company can reach me on this mail for further business discussion.
  • Tarama rajah said on February 19, 2013
    Dear friends, I am from Malaysia, actually I am property agent, I meet lot of people from all the field. I can find and contact the respective trading product you need or export, wood product.any interest person having the product or need the product can reach me on this mail for further discussion.. tarama52@yahoo.com
  • sujay said on February 25, 2013
    dear sir, I want to start trading/distributorship of diapers in delhi. So kindly provide me the step by step process to start my distributorship business. share ur valuable advice to me. Thank you
  • johnpaul said on March 2, 2013
    Hai i am doing trading in madurai, i have buyers and sellers in hand, Location madurai, Taminadu. I want to know how can i run it for todays trend. Basics and Modern trend.
  • Rakesh Shinde said on March 8, 2013
    Hi , i am searching for a small trading business please help me out. Thanks Rakesh
  • harsha said on March 8, 2013
    hi, i am starting up trading business, plz guide me the proper product that i should choose and gain more profit,
  • Onkar Singh said on March 15, 2013
    Hi, I am doing trading in Hong Kong and my company name is So Nice Trading Company and have an experience of 10 years in electronics, watches and garments. looking forward to find more customers to expand my business. We can help to source any product from china. You can contact me at following no also +852-62063497. Thanks, Onkar Singh
  • s karthik chakra said on April 6, 2013
    HI i am from chennai medavakkam, i want to start food products industries examples dried mixes, some sauces and liquids. pickles. would like to interested pls contact me
  • MD TAUSIF said on April 16, 2013
    i would like to start my business in share trading through under my own company name. so if it's possible than what is the process to register my small business at new delhi india. 110074
  • Uday said on April 16, 2013
    Hi, i am from Uddav. i want to start Trading Business (read marde cloth and Malt cereallgrain) will any idea please mail me. 8802762987
  • M D Rajkamal said on April 17, 2013
    hi i am kamal from coimbatore pls mail me the details for starting trading business.. thank u...
  • Suhail Dawoodani said on May 1, 2013
    Start up finance available for those with solid and feasible projects. should have experience in related industry and knowledge of complete know how. send email to sdawoodani@gmail.com
  • muhammad umar said on May 18, 2013
    Hi I am from Islamabad Pakistan, I wan to start my own business of any type, if some one suggest me to do some kind of business in Islamabad, I shall be very grateful on my email as above
  • puranmal kumawat said on May 31, 2013
    hi i am from jaipur rajasthan i want to start my own business of trading, i want to start a small business in trading of hydraulic and nailers product. plz help me
  • kamlesh jain said on June 13, 2013
    hi, i am going to start a textiles & handlooms trading business @ vv puram, Bangalore. i am already through with the rental agreement. i am running the same business @ andhra pradesh. in bangalore i want to start as a branch office, keeping andhra office as head office. kindly guide me the further formalities at the earliest.
  • Marcy Carreon said on June 16, 2013
    hi i am from the philippines. would like to start a business about trading. Right now i am working as QA head of a packaging company. Can you suggest something of a product that would fit on my starting business....thanks much
  • Bapu Nalage said on June 20, 2013
    Hi am B. Nalage, 15 Yrs in B2B marketing. Want to start a small trading business i Pune-Inadia. Any have an idea. may call me at 9922932535
  • Irfan shaikh said on June 27, 2013
    He I am planning to start up new business in India .linking Dubai via trade ,so can u suggest me with the goods to import or export .and how does it work the complete system ,registration, links, product, transport, investment, benefits, losses, documents, and if not Dubai then which other country with their requirement .
  • Thrilok said on July 2, 2013
    Hi. I'm Thrilok from Hyderabad. I am in plan of starting a trading company in industrial products. I already approached a compressor company, it is almost at the edge of finalization. Could you please suggest any specific and new trend idea to capture market permanently in slow pace. please share your suggestions to my email id chintha.thrilok@gmail.com
  • Shravan chauhan said on July 29, 2013
    Hi I am staying in vapi I want to start a trading business please suggest me the product.
  • Manoj Kumar KS said on July 30, 2013
    I want to introduce myself as Manoj Kumar KS and put up in Bangalore with 10 years of experience in sourcing and manufacturing of different components. If you want any inputs or If you want to manufacture any component you can let me know. I can manufacture for you in Bangalore and send to your place. My email id is manojkumarengg@rediffmail.com
  • mayur said on August 10, 2013
    hi. i want to start trading of furniture fittings metals from my state to another states so can you please suggest me which type of registration and license or any legal requirement i have to fulfill for starting the trading. Kindly explain in brief for making me understand better.
  • Sachin said on August 21, 2013
    I want to start trading business in pune in engineering products. Can anybody guide on this? COntact: 7756017588
  • Nitin Patil said on August 31, 2013
    Hi, I am in pune and i am planning to start my own trading firm for industrial products if u have any idea or any suitable products please contact me on my cell: +91 9823900054
  • Rohan said on September 19, 2013
    Hi I am from Pune I want to start a trading business in house keeping products please suggest guide me.
  • Charul Dheer said on October 7, 2013
    Hello, I have been seeing your column and this really helps so please help me as well... As i am planning to devote myself into Garment and Fashion Accessories but in small scale. Though i have lots of sources where i can make samples to produce my product but M really confused as nobody guides me well , therefore i kindly request you to please help me with this. I will be really be grateful to you. Best Regards. CHARUL DHEER. (Fashion Designer) 9015992664
  • Charul Dheer said on October 7, 2013
    PLEASE ADVICE ME .... I really need help to start up my own small scale Fashion business with zero investments. PLEASE..
  • manish said on October 7, 2013
    Chemical trading. Which document required? Which number required VAT CST GST. AHMEDABAD GUJARAT
  • kumar said on October 14, 2013
    Dear Sir, i would like to start trading business in industrial safety products for supplying to industries in Maharashtra state from Pune, India. Pl. guide, thnks, kumar
  • Jyoti said on November 4, 2013
    Hi I want to start marketing business of fruit pulp. Help me which are the steps involved to start such business.
  • beauty roy said on November 15, 2013
    Hi, I want to start a marketing of Ayurvedic and Herbal Medicine and cosmetics in India. advice me the complete procedure of registration.
  • Amit said on November 18, 2013
    I am a chemical engineer. working as a production engineer in a chemical company based at Ankleshwar. I want to start chemical trading ,Can anyone help me how to start it and which products would be best.. mail ur review on amits.2410@gmail.com
  • Shailesh Jakhotya said on November 19, 2013
    Hello, I am shailesh from Pune, I am looking to start some business may be in environmentally sustainable products or fast growing industries like interior products, solar, LED, organic products. If anyone has any ideas or opportunities kindly let me know. 9823829910 (shailesh.jakhotya@gmail.com)
  • bhushan bhagwan kudav said on November 28, 2013
    dear sir, I am looking for trading business in metals, sheets etc. so can you help me for initial steps for starting trading like for any documentation etc. pls mail me
  • Banshidhar Jena said on December 15, 2013
    hi, i am banshidhar Jena from mumbai india, having MBA degree with 7 year of experience in high level management.. want to start my own business in textile trading in east india orrisa and westbangal guide me..my number is +91-9004961910
  • Manan Kothari said on January 21, 2014
    I want to start chemical trading business in Mumbai. Please guide me. Manan Kothari Contact No. 9819607714
  • sudhakar said on February 1, 2014
    i want to start trading in clothing business in delhi/ncr i have no experience in respective field. i have so much money to start this trading business. please send me all the necessary details through email as soon as possible. thanks
  • tintu said on February 2, 2014
    please give a brief note about how to start a trading company and how to do trading?
  • Sushant said on February 25, 2014
    hi, i am a graduate mechanical engineer with about 10 yrs of industrial maintenance experience. i want to start Industrial water treatment chemical trading business in Goa India.Can you please guide me how to start this business right from market survey to first consignment delivery.
  • Chandra said on March 1, 2014
    Hi, I am finance Manager. I want to start own business. Writing pad note book and stationery supply. pls advice me.
  • Nilesh said on March 8, 2014
    Hi we are manufacturing stainless steel scrubber ( utensil cleaner) in belgaum karnataka it is a regular consumption product. Any one interested in dealership or tradership plz contact me 9986902523
  • Pan Bisht said on March 10, 2014
    Dear Sir, i am starting a new Trading business of Industrial Consumable in Rudrapur, Uttarakhand. We are interested in dealership or trader ship of industrial product. plz contact at 9634994284 or mail- suparthenterprises14@gmail.com
  • Vilas Navale said on March 10, 2014
    Dear Sir, i am starting a new Trading business of Industrial Consumable in Aurangabad, Maharashtra. We are interested in dealership or trader ship of industrial product. plz contact at 09423154704 or mail- shrisaienterprises011@gmail.com
  • prabha said on March 12, 2014
    Sir I want to start a trading business of packed products plz send me details how can i start .
  • kamlesh chandrakishor jha said on March 12, 2014
    dear sir i am from ulhasnagar near mumbai i am working as quality control chemist in a chemical industry i dont have any experience of business but still i want to start a trading business of chemical reagent kindly help me
  • sameer bhattad said on March 16, 2014
    I am a chemical engineer. I have 2 years of industrial experience. I want to start a chemical trading company. Though I am from a chemical back ground I am not able to figure out how to proceed further. Any help from your side is much appreciable.
  • naresh kumar said on March 17, 2014
    i am naresh from nizamabad. i wanted to expand my father trading business on agri products. if there is any new ideas to expansion please help me.
  • Maheshkumar said on March 18, 2014
    HI buddys...i'm maheshkumar from india, pune. qualified with BE(Mechanical) and MBA in marketing. wants to start trading business in mechanical equipments and accessories. if any interested for joint venture please contact me. will start early with the help of each other. my number..9096347494 and email id - mahesh_katageri@yahoo.co.in... Best wishes and regards, maheshkumar
  • Rishabh Singh Thakur said on April 7, 2014
    Hi, We are a Pune based company, dealing into industrial products, want to add more products in our basket, looking for dealership/distributorship. Please contact: mechkinssales@gmail.com
  • barkha said on April 29, 2014
    I want to start trading of bandani clothes in pune. i want to know the procedure. Can i directly pitch retailers?
  • Deep said on May 7, 2014
    @kamlesh chandrakishor jha, We are into chemical trading; specifically Polymers. I am Looking out to add few more prdts in my portfolio. Mail me for detailed discussion.
  • Prasad Pandit said on May 8, 2014
    Hi.. I want to start my own Trading business without any investment in Nagpur city. Presently I am in Service, but reluctant to start my own business. My self is B.com graduate. Kindly suggest the suitable business along with tips to start the same.....
  • amol said on May 19, 2014
    Dear sir, I wants to start an industrial trading business in Aurangabad. kindly help for the same.
  • kailash said on May 20, 2014
    Hi , i am searching for a small trading business at jodhpur in rajasthan please help me out. Thanks
  • tatun said on May 25, 2014
    I want to start trading auto components in worldwide. Please suggest how I start and how I find buyers & suppliers. regards. Tarun
  • Zaheer Abbas said on June 1, 2014
    hi, i want to start food item trading business in delhi (india). kindly advice how to start.
  • Sanjay Gohil said on June 4, 2014
    I want to start trading in pharma in Ankleshwar - Gujarat please advise which product is best for trading and how to start it
  • subhas industrial trading company said on June 8, 2014
    we deal in electrical/ mechanical/ pneumatic and hardware for different industry. Right now we are operating from Gurgaon and delhi. Need to explore the trading in Pune/ Mumbai/ Hyderabad/ chandigarh and so. need the partner or relation from different areas to enhance the business. interested person can contact on subhashindustrialtradingco@gmail.com
  • subhas industrial trading company said on June 8, 2014
    subhas industrial trading company looking for different industrial product/ services dealership.
  • mohit said on June 12, 2014
    i want to start own trading company ...what is the criteria of this format pls send me full details
  • SATHEESH said on June 16, 2014
    sir, my name is satheesh from india . i am b-tech mech engg and i want start trading in plasti pipes and other different industrial product or services. plz sir send me a detail process to start and approach from step 1 onwards my mail id is:ssathesh.1438@gmail.com
  • NARUKULLA said on July 11, 2014
    i want to start probiotices trading in hyderabad and also vijayawada
  • Guru said on July 20, 2014
    hello sir, i want to start trading business in textile. i am confuse how to start a trading business. sir give me some suggestion in trading business of textiles . how to start and what procedure.
  • Karuppasamy said on July 29, 2014
    Hi i want to start New Trading business but i dont have idea for product. please advice me which is best one and pls guide steps
  • S G Dastidar said on July 29, 2014
    To start a distributorship business in Jharkhand, what are the legal requirements.
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