As a business owner, you probably already know what competitive advantage means. It can take many forms; in some instances, even a whole country can have a competitive advantage over other countries in certain regards. For example, Canada has a competitive advantage in the production of motor vehicle parts, natural gas, timber, telecommunications equipment, and aircraft parts, just to name a few.
Canada has a competitive advantage in the production of motor vehicle parts, natural gas, timber, telecommunications equipment, and aircraft parts
As a US business owner, whether or not you’re selling for an international audience, you can take full advantage of Canada’s competitive advantage yourself. How come? You could import supplies for your business, or even parts for your own products from Canada and enjoy all the advantages this transaction brings with it. Here are the top five reasons why you should consider sourcing your supplies from Canada.
- Get the best supplies
- Lower prices
- Increase your competitiveness
- Easy access
- Easy payment
As we mentioned earlier, Canada is well known for manufacturing quality products across various industries. High quality raw materials, rigorous standards and work ethics are just a few reasons why our northern neighbor excels in many economic sectors. If you use Canadian supplies, or Canadian product parts, you can rest assured that you’re getting the quality you’re used to with your US producers.
Why switch then, you ask? Because many things are cheaper on the north side of our border. And in addition to that, there’s the issue of currencies: even though both countries use dollars, the CAD is usually well behind the USD in value. Which means that your USD can buy more in Canada than in the US.
If you source your supplies for cheaper, that means you can cut your own prices and offer your products and services to your customers at a lower price. This gives you a big advantage over your competitors, and can skyrocket your sales figures.
Choosing the best products from the best suppliers has never been easier. With the advance of ecommerce, the world is at your fingertips. All you need to do is go online and find the best quality supplies at the most competitive prices. And if they come from Canada? No problem. You can have them shipped into the US almost as easily as (and in most cases, a lot cheaper than) buying from home.
Don’t like the hassle of international payments? Good news: you’ll never have to deal with it again, especially not if you’re paying suppliers in Canada. Veem offers an easy, hassle-free, secure and low-cost way to pay your Canadian suppliers. With Veem, you can send payments to Canada as easily as sending an email. Paying through Veem is faster and more secure than a traditional bank, and there’s no hiddens fees.
Interested, but don’t know where to start? Read our comprehensive guide on Doing Business in Canada and learn everything you need to know before you start sourcing your supplies from our northern neighbor.