The Advantages of Becoming a Non-Resident Importer to Canada
November 13, 2017
If you’re thinking of exporting your products to another country, Canada should be the first options that comes to mind. The opportunities our northern neighbor provides for US small businesses are more than spectacular. There’s a vast market very close to the US, a similar set of business rules and culture, a strong and stable legal system, as well as a common language and similar consumer behavior.
There are two ways to export your goods to Canada. You can look for a Canadian business partner to take care of everything on their side of the border. This would make your life a bit easier; however, it would also prevent you from enjoying the many advantages exporting to Canada could give you in the first place.
The other option is to do it all by yourself and handle everything from shipping to customs clearance. It’s a bit more difficult than having a business partner, but well worth the effort. If you choose to go down this road, you need to become a Non-Resident Importer (NRI). Let’s see the advantages Canada’s NRI Program offers to US small business owners!
Since you’re handling everything from the order to the customer receiving their product, you can include all costs into the price. You can calculate shipping, duties, customs clearance fees, and taxes for both to you and your customer. This means as an NRI, you can quote your full price in Canadian dollars, which makes it an easier purchase for your customer.
As an NRI (Non-Resident Importer) you can quote your full price in Canadian dollars, making it more attractive for your customer
Easier for the customer
If you’re taking care of everything, the whole process is as simple for your customer as buying from a Canadian company. A good experience like that will make them return to your store again and again.
Since you’re in charge of everything, you can set your selling price, attracting customers from all over Canada. In addition, you can consolidate shipping and thus reduce clearance fees.
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Control over shipping
You choose your own carrier (or depending on your business, you may even do it yourself), and there are no additional actors or middle-men in the process. As an NRI, you control the whole line of logistics from the US to Canada, and thus can guarantee a predictable shipping time. You may also offer tracking of the package.
You control the whole line of logistics from the US to Canada, and thus can guarantee a predictable shipping time
Extend your market
With the advantages of ecommerce, you can extend your reach into Canada. Moreover, you can participate in customer service, offering your customers post-purchase care. A satisfied customer is a returning customer, creating even more demand for your products.
Business goes both ways
If you’re already interacting with Canadian customers and business people, why not consider looking for suppliers from the north side of our border as well? Sourcing goods from overseas has great advantages, including cutting costs, improving your own products, and gaining much needed competitive advantage over your competitors. There’s usually one thing deterring small businesses from buying from abroad: payments. Don’t worry about that: Veem has solved this issue for you! With Veem, you can pay your Canadian suppliers quickly, securely, and as easily as sending an email. And the best thing: it’s a lot cheaper than sending an international wire transfer at your local bank!
There’s usually one thing deterring small businesses from buying from abroad: payments.
If you decide to become an NRI to Canada, here’s a step-by-step guide for you to follow.
Interested? Read our comprehensive guide on How to Do Business in Canada and get started today.