Starting a Trading Company

Get some Macs. 😀

If it was as easy as buying something cheap in one county and selling it in another for a profit there would be a lot more people doing this.

You need to look into export/import taxes and tariffs. If you're buying for personal use that's one thing, but its a whole different ball game for resale.

Good luck!

D

www.UPS.com.

Their shipping software has all of the NAFTA calculations/tariffs/taxes etc. built in. It's an invaluable tool! (Well they put a vaule to it.)

Don't forget the IRS, they do have good resources. Mostly to keep you out of trouble.

If you use USPS their manual is here.

also speck out Titles 15,16,39,49, and maybe 46 of the CFR, Code of Federal Regulations. In order (Commerce and Foreign Trade, Commercial Practices, Postal Service, Transportation, and maybe Shipping) There are all sorts of tiny laws that will apply, but basically the CFR is a good reference, especially when you have to explain yourself. For instance the Domestic Mail Manual (DMM) is put forth in Title 39, and title 49 will tell you how you can ship batteries. -I know you already know what you need to know, but it pays to have some knowledge, especially when dealing with bureaucracy. Don't buy the CFRs. There is little that Canada requires. If you do any repackaging, you will need both English and French labeling. When in doubt, officials always refer to the more strict regulation, and that is usually with in the U.S.. I know little about American law and less about Canadian laws, but I am sure there is plenty of free help here. -> NAFTA and other trade agreement help.


The only reason I have any knowledge is that I worked for a company that decided to ship internationally.

I'd still start with UPS.

I just went through a SBA seminar, here in the states, they are usually conjoined with the Chamber of Commerce. Their services are free, and they will even call the IRS and work it out with you.

They are an invaluable tool, again free. as more money is made for the economy through small business than large.

go ahead and incorporate, get a federal tax # and a good CPA for end of the year taxes, Accountants are much more valuable than lawyers to small businesses.

which, even if you are going under your own name, you are practicing as a sole-propriatership.

Though if you are trying to establish conections & get great deals from other companies, having a "true business" with a letter head, and a presence will help them give you a better price (since they know you are not a fly by night kind of person)

good luck

oh- and do you have a web site w/prices etc, if so, post the URl (If not, I can help, as so can many many people here)

Wow, thanks for all the info guys. I am thinking of starting a small business and the info links you provided is awesome!

Originally posted by big
...and a good CPA for end of the year taxes, Accountants are much more valuable than lawyers to small businesses....

Click to expand...

Very true. If you need a referal to a good CPA, my father is one, and I'd be happy to give you his contact information.

(I started my own business a while back, before I decided to go back to school, and having him there to help with some of the accounting aspects was invaluable.)

Ah, the fun in becoming a grey market importer.

Should make you really popular with at least one company and/or governmental agency.

the above posts asking you to consult with a tax pro or lawyer is good advice

nafta has turned a lot of things upside down...some things good and some not so good

...but good luck in your venture

I suggest a CPA over a lawyer (if funds are in short supply) because a CPA can tell you more about starting a business & laws you'll have to deal with then the lawyer usually could