Northern Texas, Texas, 12/08/2015 /SubmitPressRelease123/
Business barter networks are booming. In fact, according to the International Reciprocal Trade Association in 2010 barter networks accounted for around $12 billion in transactions worldwide. In a struggling economy, professionals and business owners deeply understand the value of saving cash, but any business at any stage of growth still has its expenses. Start-ups to Fortune 500 companies utilize this new evolution of an ancient form of commerce to increase cash profits, turn excess time and inventory into value that they need, and attract new customers through the barter network.
How does a business barter network function? Simple. In fact, business barter networks are far less complex than the traditional economy because its dollars are backed by actual value in the form of products and services. Businesses and professionals who are members of barter networks trade products and services amongst each other and pay in the currency of their barter network.
For example, ITEX business barter network uses ITEX dollars, which are valued at the same rate as United States currency. ITEX dollars are backed by the products and services that are actually traded among ITEX members. There are over 20,000 businesses in over 1200 business categories in the ITEX barter network that all trade services for ITEX dollars. Say an ITEX chiropractor needs to hire an electrician. She can look up an electrician in the ITEX directory and pay him for his services in ITEX dollars. The electrician can then use those ITEX dollars to purchase services or products from another ITEX member. When the chiropractor uses ITEX dollars instead of traditional currency, she frees up all of that additional cash. Meanwhile, the electrician now has ITEX currency he can use to purchase goods and services from any of the other over 20,000 ITEX businesses when the need arises.
Businesses and professionals can offer up their excess inventory for barter. Excess inventory can mean different things depending on the business. For example, a flower shop owner may have excess inventory of seasonal bouquets and offer them up for barter. In a similar way, a hotel may have excess rooms to offer to its barter network. For businesses and professionals that offer services rather than goods, excess inventory means a public relations firm has the time and resources to take on more clients than they currently have, or a dentist who wants to be working 40 hours a week is only working 35. That excess time and resources is their excess inventory. Offering excess inventory up to members of their barter network automatically turns that excess into value. The best barter networks have ways to help businesses and professionals promote their barter offers. For example, ITEX members have personal representatives to help them and weekly emails that go out to all of the network members promoting special services and products offered.
You will notice that having a barter currency solves the foundational problem of one-to-one barter. What if the electrician does not need a chiropractic adjustment? What if the electrician does need a chiropractic adjustment but the value exchange of these services is not equal? ITEX dollars function as any other currency would within the extensive barter network.
To learn more about how your business or practice can benefit from becoming a member of a business barter network, call Jeff Weaver, owner of ITEX in North Texas, an independent franchisee of ITEX Corp Bellevue, WA at at 214-222-4389, [email protected]of /or visit online at www.b2bvirtualcurrency.com.
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