Different types of businesses will require warehousing services. The video explains the types of business entities that benefit from warehousing. It is the storage of goods for easier retrieval and transportation. It is time-saving and enhances productivity and profitability. Before deciding on a warehouse, consider which type would be more beneficial for you.
Governments own and manage public warehouses.
They are secure and enable businesses to avoid legal problems with varying government departments. Even so, there are charges for using these warehouses. Public warehouses are easy to access due to their proximity to roads, railways, airports, and other government-owned facilities. Therefore, businesses can get their products to the factory or market quickly.
You also have the option of choosing a private warehouse. A business can build its own warehouse. It can store its products and provide warehousing services for a fee to other business entities. Warehouse construction is expensive. More profitable business entities can construct theirs, while small business entities hire space in them.
A bonded warehouse will store products for which customs duty payment is necessary. Until customs clears the products in the warehouse, they cannot leave. National tax services license companies to operate bonded warehouses.