Thursday, February 27, 2020

Expanding our Business into Canada Research Paper

Expanding our Business into Canada - Research Paper Example While doing business in Canada and one wants to import any goods, the Canada Border Services Agency (2010) advices that, before importing any goods to Canada, one must be in possession of a business number from the Canada Revenue Agency for an export account. Also, one must have a clear knowledge of the goods that he/she wants to import and from which country the goods are manufactured. The goods must also no belong to some of those restricted to enter the country. Moreover, the tariff classification, rates of duties and tax charged on imports are a major consideration when it comes to importing of goods to Canada. According to the guideline on doing business in Canada (HLB Canada 2008), for one to expand his business in Canada, there are a number of things that must be considered and put in place. These issues include; for instance, if one wants to start a business in certain province in Canada, â€Å"he needs to register his business as an extra- provincial corporation in that pro vince† (DBC 2008). In addition, all the procedures must be followed to the later. First of all, for a company which seeks to expand its business in Canada but already has an existing business in their country of origin, it can apply to go to Canada as business immigrant, however, there are three types of business immigrants, which include investors, entrepreneurs and self employed business immigrants. According to the citizenship and immigration Canada (2010), â€Å"business immigrants have to make a C$800,000 investment or own and manage business in Canada and must also meet certain experience.† For investors who seek to expand their businesses to Canada, they must be experienced in business, they should at least have a â€Å"minimum of c$1,600,000 net which must have been obtained genuinely, and they should also manage to make a c$800,000 investment† (CIC 2010). Nevertheless, business is considered as the main backbone of any country and so, being cautious when it comes to foreign investors is very important. Cultural factors The economics of the country as it relates to doing business there and business etiquette (how to be polite in that country when doing business, their customs and manners) In Canada, the main spoken languages are English and French, both of which are national languages. Canada is mainly associated with polite and tolerant people. Generally, the main form of greeting in Canada is by a form of a firm handshake which is inclusive of a smile and a direct eye contact (Gorrill, 2009); however, other forms of greetings may involve a light kiss on the left and right cheek. While invited by somebody for dinner, it is always a good gesture to carry a gift, which may include wine, flowers or chocolates. In the business etiquette, Canadians practice politeness at all times and they expect that others will adhere to politeness as well. In a business meeting, it is essential to shake everyone’s hand in the meeting room. Sur names and honorable titles are not commonly used in Canada, instead, academic titles are found more appealing such as Dr, Mr. or Mrs. In addition it is a custom to make sure that business cards are in both English and French languages for easier clarity for the two languages speaking citizens (Gorrill, 2009). If one wishes to conduct business in Canada, then he/she should be aware that Canadians communication is indirect. Non-verbal expressions are mainly used to emphasis on a

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