E-commerce payment facilitator PayPal is aiming to make the global marketplace more accessible with the launch this week of PassPort, a website designed to help Canadian small businesses sell internationally.
On the site, 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.
“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.”
A recent Internet Association report highlighted that despite having one of the highest rates of internet connectivity in the world, only 3% of the Canadian retail economy is online as compared to 7% in the U.S. and 23% in the U.K. By selling online, tremendous new opportunities await exporters and businesses that are willing to find online cross-border shoppers who desire Canadian-made products and services.
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, ranking the country as the fourth most popular online cross-border shopping destination. Demand for Canadian products from these markets is expected to grow to $12.8 billion in the next four years.