PayPal is looking to make the global marketplace more accessible to Canadian small businesses with the launch of PassPort, a website designed to help small businesses sell internationally.
On the PassPort website, entrepreneurs can find export market specific guidance on seasonal sales peaks including holidays and events; cultural customs, taboos and trends; shipping and distribution logistics; currency exchange and fees; and customs procedures and taxes.
A recent Internet Association report highlighted that only 3% of the Canadian retail economy is online as compared to 23% in the United Kingdom. By selling online, a world of opportunity awaits exporters and businesses that are willing to find online cross-border shoppers who desire Canadian-made products and services.
“Small business owners know that reaching a global market can exponentially increase their sales, but many aren’t sure where to start,” said Cameron Schmidt, General Manager, PayPal Canada. “We designed PassPort with our international insights to help small businesses tap into global sales opportunities as simply and seamlessly as possible.”
PayPal says the world is eager to buy high quality “Made in Canada” products. The U.S., U.K, Germany, Australia, China and Brazil purchased a combined $6.4 billion worth of Canadian goods in 2013. Demand for Canadian products from these markets is expected to grow to $12.8 billion in the next four years.