In today’s global marketplace, many successful firms have expanded and increased their sales revenue by exporting to other countries. Canada’s largest trading partner, the U.S., is usually a first choice and offers enormous potential to increase sales and profitability. However, many exporters are now turning their attention to overseas markets that represent even greater opportunities – and challenges.

Expanding your business internationally can bring significant benefits but carries additional risk that requires research, an understanding of political and economic climate and due diligence.

Consider these factors:

  • Identify the target country or region that you want to export into
  • Research, select and choose the right distribution channel
  • Define the terms of the reseller contract and agree upon mutual expectations
  • How currency fluctuations may impact trading risks
  • Establish a credit management policy; Export Development Canada is a viable option here
  • Litigation and liability risk – it may be a benefit to establish a different operating company for your export business
  • Shipping and transportation costs
  • Duties, tariffs and import taxes
  • Language – where possible, conduct business in English or another language you are familiar with as another layer of complication is introduced when using an interpreter
  • Update your website to clearly articulate your “value proposition” for international inquiries and to support your reseller network


To read the full Business in Vancouver article, click here.

Source: Business in Vancouver (


Greg Spafford Firstbase Business Services

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