Launch Your Richmond Footwear Merchant Wholesalers Business Today
This page is your practical guide to starting a Footwear Merchant Wholesalers business in Richmond (NAICS 424340). You’ll get a clear, step-by-step view of the 8 requirements you’ll need to meet, from registering your company and obtaining a business number to setting up supplier accounts. We outline permits, licenses, and the expected costs, plus a realistic timeline so you can map out your first 6–12 months with confidence.
Key learnings include the exact permits and licenses required (and how to apply), what supplier approvals look like, and typical startup costs—from registration, insurance, warehousing to initial inventory. You’ll get a practical 8-step roadmap and a realistic timeline to reach your first shipment, plus tips for building reliable supplier relationships across Canada from Richmond. We also include ongoing obligations, GST/HST considerations, and best practices for inventory and compliance.
Richmond’s strong logistics, growing retail scene, and proximity to major ports make it a smart launchpad for footwear wholesale.
Requirements Overview
The most critical requirement for operating a footwear merchant wholesaler in Richmond is Product Safety and Recall Obligations. This is a legal duty under federal and provincial rules, and you cannot legally operate without meeting safety standards or having a plan to manage recalls if a defect is found. It is non-negotiable—your ability to sell to retailers and protect customers depends on ongoing compliance and clear recall procedures.
Mandatory operational requirements also matter: you’ll need to handle essential health, safety, and permitting steps. That includes obtaining a City of Richmond business licence to legally operate from the local government, and securing WorkSafeBC coverage and registration to protect workers and maintain a safe workplace. As part of everyday operations, keep safety training records and incident logs up to date, and stay prepared to address any safety or recall issues promptly.
Business registration and tax basics: you’ll set up the official business identity and tax accounts. If you operate as a sole proprietor or partnership, register your BC business name. You’ll need a federal Business Number (BN), and if you import or export footwear, an Import/Export Business Number. For taxes, register for GST/HST and, if you have employees, set up Payroll Deductions with the Canada Revenue Agency. These registrations keep your business compliant and ready to grow.
Next steps: map out a simple compliance plan, start the licence and name registrations, and set up BN and GST/HST accounts. Arrange WorkSafeBC coverage, gather the required documents, and create a basic recall–safety protocol so you’re prepared from day one. If you’d like, a quick chat with a local business advisor can help you stay on track and move forward confidently.
Detailed Requirements
Here are the specific requirements for starting a footwear merchant wholesalers in Richmond:
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Product Safety and Recall Obligations RequiredWholesalers must ensure products meet Canadian safety standards and report serious incidents. Must participate in product recalls and maintain records for traceability. No registration - compliance law. Manufacturers/importers/sellers must ensure products are safe. MANDATORY REPORTING to Health Canada if: death/serious injury occurred or could occur, defects found, inadequate labeling, or recall in other jurisdiction. Keep records 6 years. Penalties: fines, seizure, criminal charges. Report incidents online or call 1-866-662-0666.
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Business Licence RequiredGeneral business licence required to operate a business in City of Richmond. Apply to City of Richmond for Business Licence: 1. Determine business category 2. Complete business licence application 3. Submit required documents (ID, lease, zoning confirmation) 4. Pay application and annual fees 5. Await approval and receive licence Contact City of Richmond Business Licensing for specific requirements. Home-based businesses may have different requirements. Annual renewal required.
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Business Number (BN) Registration RequiredA 9-digit Business Number is required for most businesses operating in Canada. It is used to interact with the Canada Revenue Agency and other federal programs. Required for GST/HST, payroll, corporation income tax, and import/export accounts. Register FREE online through Business Registration Online (BRO) at canada.ca. Takes 15-30 minutes. As of November 3, 2025, online registration is MANDATORY for new BNs - phone registration no longer available. You'll need: business name, address, owner SIN, business type, and start date. BN (9-digit number) issued INSTANTLY online. Available 21 hours/day, 7 days/week (closed 3-6am ET for maintenance).
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BC Business Name Registration (Sole Proprietorship/Partnership) RequiredRegistration of sole proprietorship or partnership business names with BC Registries Register sole proprietorship or partnership at bcregistry.gov.bc.ca. Name reservation: $30 (standard) or $100 (priority 1-2 days). Registration fee: $40. Total: ~$70. Name reserved for 56 days after approval. Registration is continuous (no renewal required). No name protection for sole proprietorships. Personal names operating under own name do not require registration. Contact BC Registries: 1-877-526-1526.
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Import/Export Business Number ConditionalRequired for specific regulated activities. Wholesalers engaged in importing or exporting goods must register for an import/export account with Canada Border Services Agency (CBSA) in addition to their CRA Business Number. As of Oct 21, 2024, register RM account through CBSA's CARM Client Portal (not CRA). Need BN9 first - get via CARM or CRA's BRO. FREE registration. Required for importing/exporting commercial goods. Ensure all business names match exactly to avoid border delays. CBSA manages RM accounts; CRA issues BN9. Contact CBSA Border Information Service: 1-800-461-9999.
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GST/HST Registration ConditionalRequired if annual taxable revenue exceeds $30,000 (small supplier threshold). Taxi/ride-share drivers must register regardless of revenue. Businesses with gross revenues over $30,000 in any single quarter or over four consecutive quarters must register for, collect, and remit GST/HST. Small suppliers (under $30,000) may register voluntarily. Register FREE online through Business Registration Online (BRO) when your revenue exceeds $30,000 in any 4 consecutive quarters (small supplier threshold). Takes 15-30 minutes. You MUST register within 29 days of exceeding threshold and start charging GST/HST immediately on the sale that made you exceed it. Need your BN (or get one simultaneously). As of Nov 3, 2025, online registration is mandatory. Voluntary registration available anytime for input tax credits.
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Payroll Deductions Registration ConditionalRequired if you pay salaries, wages, or other remuneration to employees. Must register before first pay period. Required if you have employees. You must withhold Canada Pension Plan (CPP), Employment Insurance (EI), and income tax from employee wages and remit to CRA. Register FREE online through Business Registration Online (BRO) when you hire your first employee. Takes 15-20 minutes. You'll need your Business Number (BN) or can get one simultaneously. Payroll account (RP) added to your BN instantly. Register BEFORE your first pay date. Required to deduct CPP, EI, and income tax from employee wages. For 2025: CPP rate 5.95%, EI employee rate $1.66/$100 insurable earnings.
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WorkSafeBC Coverage and Registration ConditionalRequired if you have workers in BC. Workers compensation insurance coverage through WorkSafeBC for employers in British Columbia WorkSafeBC coverage required for most BC employers. Average base premium rate: 1.55% of assessable payroll ($1.55 per $100). Register online at worksafebc.com. Apply 30 days before starting business or hiring workers. Processing: ~10 business days. Premium rates vary by industry classification (514 classification units). COR certified employers eligible for 10% rebate. Contact: 604-276-3100 or 1-888-967-5377.
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