eCommerce and Canada

Hey, have you heard of eCommerce? If you're a Canadian citizen or permanent resident, then chances are good that the answer is yes. The Canada Revenue Agency reported that retail sales in Canada skyrocketed by more than double the global average in 2012. That means millions of Canadians are doing more shopping online.

Canadian shoppers love their online shopping as it's convenient and fast. With the advent of e-commerce, we now have access to an endless array of products from around the world at a moment's notice, which saves us both time and money!  

Nowadays there is no shortage of ways to find what we need (even if what our friends recommend doesn't always hit it off). However, the issue is that most of these sites are US-based and we can't access the same products at competitive prices.

This is where Canadian eCommerce enters the picture. We now have a chance to compete with the world's best… no matter where you live in Canada!

The key to succeeding in this market is using Canadian resources, eCommerce resources in particular. A major factor is the speed at which local and national governments are handling regulations for online businesses here in Canada. The United States has had many years to understand how to handle their online business opportunities and they're still struggling, whereas we're only now starting to come into our own as a nation with an established internet economy.

Getting a solid grasp on the rules and regulations is essential if your company is aiming to operate within Canada's borders in the future. We're going to cover some of the rules regarding eCommerce, but another important aspect of this industry is taxation. While it's certainly important to understand what these online shopping opportunities mean for you, it's much more crucial to understand how our tax dollars are being spent by the government and why it's prudent for Canadians to take advantage of these new avenues when buying online.

There are many different ways that tax money is spent in Canada, from funding scientific research, health care initiatives, and more; but digital media spending will be our focus here.

The year of 2012 was a huge success for Canada's online business industry, and it looks to be on the rise in 2013 as well. In fact, back in October of 2012, the Canadian government announced that they would be increasing their spending on digital media content by about $305 million (plus an additional $88 million will go toward spending on new technology). This increase is part of a larger strategy aimed at promoting Canadian eCommerce companies like yours.

Considering how eCommerce affects all sectors of the economy here in Canada, it makes sense that our government is so invested in helping this industry grow. As competition increases within international markets and online sales continue to climb, it's important we consider different ways in which we can promote Canadian brands. The online industry in Canada is huge, and as a result there are many opportunities to take advantage of.

As an online entrepreneur, it's important to know that it's not just your business that will be affected by this spending; you need to think about how this will affect you and your other employees.  

It may seem simple to implement and could end up saving you a lot of money over the long-run, but you'll want to make sure your company understands these new changes so they can make smart decisions when setting up their eCommerce website or online business. We've gathered some additional information for those who are interested in learning more about Canadian taxation rules for eCommerce.

Conclusion

Canadian eCommerce is an industry that is growing at a rapid pace, especially when compared to our American and European counterparts. The truth is, the Canadian government isn't going to sit back and allow our online industry to become a wow-not-so-much! I urge you to read this article as many online entrepreneurs don't understand the importance of being up to date on eCommerce in Canada. Come research how you can support your eCommerce business by getting your technical business services in Canada from our experts from Dynamic.

There are many other reasons why making sure you have a Canadian eCommerce website available can be very beneficial for your business.