photo credit: ExperienceLA
Bartering is no stranger to start-up businesses especially in the past, but today bartering is growing more and more with the recent recession. Businesses trade services and products with another business to help both of them maintain their cash flow.
Businesses of all sizes are begining to use the barter system and some businesses take advantage of this system through a company that is set up specially for this transaction.
Typically, a small business sets up an account at a barter company, similar to a checking account at a bank, for a one-time fee. “Trade dollars” earned for services rendered are deposited into the account and can be spent on any product or service in the network. Companies regularly find others willing to barter via the barter site’s online directory of services, email newsletters, referrals or by contacting a firm’s account manager.