Whether you’re starting from scratch or you’re already an established online seller, it’s always a good idea to spend some time perfecting your brand.
For many e-tailers, one of the largest obstacles to successful cross-border trade is getting a good understanding of local trade laws and ensuring compliance with international legislation. Many online sellers using overseas marketplaces like Amazon, Cdiscount, Rakuten and Etsy often find that their international sales take off so quickly that – without even knowing it – they are exceeding tax thresholds and breaking overseas selling laws. If the problem gets out of hand, the resulting fines and legalities could cost a business its profits and its ability to continue trading.
Our partners at SimplyVAT.com have produced two essential ebooks for online sellers to tackle the problem – The Ten Pitfalls of International Trading and Ecommerce & European VAT – The Essential Guide.
Whether you are an established international seller or researching the possibility of expanding into untapped overseas markets, these guides offer an in-depth look at the tax implications of international e-tailing and will ensure you’re in the know about your own business obligations.
Now that you’ve mastered international tax, how about currency?
Cross-border trade has been the key to many online sellers’ success – unlocking the potential of global markets and increasing your customer base gives you a huge advantage, but receiving sales in a foreign currency can present its own challenges.
Online marketplaces like Amazon will convert your foreign revenue into your home currency for you, but if you’ve ever taken a look at the foreign exchange rates that you receive on those transfers you’ll realise that you lose around 4% of your sales revenue on every item sold once the conversion is complete.
At Currencies Direct, we help you take home more of your profits – with our help, most online sellers cut their foreign exchange costs by at least 50%.
To find out how we can bring value to your online business, contact the friendly experts on our e-tailer team on +44 (0) 20 7847 9269 or email [email protected].