My good friend emailed me yesterday. I guess being so curious about barter made him research online and here's what he got..how huge the industry of barter is..
In the United States barter is a $6 billion industry. The majority of this business is done through local area barter exchanges scattered throughout the country.
Barter allows businesses to buy the goods and services they need - without spending cash. In a barter exchange the business members buy what they need and pay for it with what they have. The barter exchange is the third-party record keeper. The exchange helps the transactions to happen and creates a currency system so that trades do not have to be direct or one-to-one.
Bartering allows a business to make purchases it would otherwise not have been able to make if the business had to spend cash. If your company has excess inventory, extra time, space or services, barter is an excellent way to move those goods or services. Barter brings new customers and additional income that can be spent with other barter members to conserve cash.
A Barter Exchange serves as third-party record keeper - like a bank. Barter exchanges use a currency called barter or trade dollars. Businesses buy and sell in the network using barter or trade dollars.
What is Barter companies?
ReplyDeleteBarter companies are simply middlemen who can organize trades and barters between companies that are in need of products or services. Companies are given barter credits in exchange for the value of the goods and services that they are offering for trade and they can use those toward products and services that their own business might need. This simplistic swapping of goods and services is a wonderful way for companies to get what they want and need, without tapping into their limited funds.
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