02 Apr Organized Barter Exchanges Provide a Welcome New Income Source and Cost Reduction Strategy for Small & Large Businesses
|PORTSMOUTH, VA – April 7, 2020 – (Newswire.com) |
During these trying financial times business owners are searching for new income sources and cost reduction strategies, and are finding that organized barter exchanges deliver both.
One-on-one barter has been around for centuries. Organized barter exchanges take trading to a more high-tech level with Internet marketplaces and advanced software systems that allow member businesses to trade on a third-party basis where the exchange acts as a trade broker for its members. Member businesses receive trade dollars, (equal to the U.S. dollar in value), when they sell their products or services. Members who have earned trade dollars from sales can use their trade dollars to purchase from any member in the exchange.
Whether good or bad economies, most all businesses have unused capacity or surplus product – barter exchanges turn that spare capacity into new customers and increased revenue. Exchange members trade with other exchange members for what they need and put their checkbook aside. Exchange purchases are an excellent way for business owners to reduce their cash outlay for operating costs. For example, a landscaper can use their earned trade dollars to have their website re-designed, purchase business equipment, utilize electricians/plumbers, provide employee dental & vision benefits, or donate trade dollars to charities – all without spending cash. Exchange members also frequently buy advertising campaigns on trade to help bring in new cash customers.
“The well-established, IRS approved organized barter industry has hundreds of trade exchanges across the U.S. and internationally. They are tailor-made business networks that business owners can instantly tap into for new barter sales and purchases – without having to spend their precious cash. Trade exchanges are an incredibly helpful business tool that virtually every business should have in its arsenal,” says Ron, Whitney, President/CEO of the International Reciprocal Trade Association, (IRTA), www.irta.com, a 41-year-old trade association for the global barter industry.
IRTA’s barter exchange members come from twenty countries. All IRTA member barter exchanges adhere to a Code of Ethics & Conduct that affirms their compliance with the best practices in the industry. To find an IRTA barter exchange near you, access IRTA’s member directory at: https://www.irta.com/member-directory