One of the most common questions I get from people when they learn I purchased a Barter Business Exchange is “Do people still do that?”
My answer is simple: People that like to save money do. Do you like to save money?
Of course, I seriously doubt there’s a single company in existence that doesn’t want to save money so that begs the question: why don’t all companies barter their products and services?
Well, the fact is that most of them do barter; at least the savvy businesses do. The Harvard Business Review claims that 92% of Fortune 500 companies have official barter agreements in place; and about 60% of small businesses also barter on a regular basis.
Simply put, Barter is providing goods/services you produce in exchange for other goods/services (that you would normally pay full retail prices for in cash) without spending any cash. The lower your variable cost of goods sold is, the better barter is for you.
However, there are some inherent roadblocks to bartering in today’s economy and barter activity remains largely hidden from the general population of consumers. As a result, I’ve found the portion of companies that don’t barter are generally companies that stopped bartering due to lack of quality partners, or they are new business owners starting their first companies that have never had any exposure to the practice of business bartering in today’s environment.
Personally, I’ve reached a point where I try to barter for everything because every successful barter exchange equals more cash I get to keep in my pocket! If you’re in the 40ish % of companies missing out on the improved cash flow that barter provides, I’d recommend looking at some modern barter exchanges like mine to learn more. An exchange like Tradebank offers more flexibility and options than the traditional 1on1 bartering of the past. And if you’re a novice trader, you’ll have a personal broker to walk you through the process helping you maximize your opportunities.
Given our current environment where commerce is drying up in the fight against Covid-19, I can’t imagine a better time to try and save cash via Barter. Come check us out at www.Atlanta.Tradebank.com or feel free to email me for more info at LConner@Tradebank.com .