Think outside the country
As a business owner, you might often look for ways to improve your products and services while positively influencing your bottom line. However, this can be easier said than done — how you go about increasing profits and simultaneously offering more to your customers can be challenging. One option is to heed a slightly modified version of “thinking outside the box” — try “thinking outside the country”.
Importing supplies and products from outside of Canada presents options you may not have previously considered. Maybe you would like to bring unique products to your Canadian customers, or find more sources of the supplies you need, or even license a foreign product. No matter why you may choose to import goods into Canada, there are a number of rules and regulations you'll want to know before you do so.
To help you understand the process you must follow in order to import goods into Canada, the Canada Border Service Agency has published A step-by-step guide to importing. The guide goes through all the steps that are involved in bringing products into the country, such as:
- Getting a Business Number and Import/Export tax account
- Getting accurate information, such as restrictions and requirements, about your imports
- Calculating applicable duties, tariffs and taxes
- Liaising with customs brokers, exporters, shippers and vendors
- Arranging for the transportation and release of your goods
The importing process has many steps, most of which are mandatory. It doesn't have to be intimidating — treat it like any other organizational process.
For more information, check out our Export, Import and Foreign Investment section.