Running a small business can be pricey. This is the main reason why businesses look to barter with each other and save money. Bartering comes in all forms and applies to many different aspects of the business – goods, services or even advice. Seeking out a business to barter with may not be as difficult as you may think. See below for some ideas on how to get your business started with bartering.
Business bartering is trading goods or services with another business’ goods or services. The idea is to save money, yet gain the tools needed to run your business. Bartering is the exchange of items without forking out the cash. However, be aware that you are still expected to report to the IRS the value of the items which you have traded. If you find that your company is slow to grow or is not bringing in the cash flow needed to sustain, bartering may work out better for you.
Bartering can help to preserve your company’s capital assets. If you find that you are moving inventory slowly and are not able to spend much money on items such as brochures or business marketing materials, offer some of your inventory. This is a great way to both move your inventory and receive items you need in return. It’s a win-win situation if your proposed trade is needed.
If you offer professional services for a living, offer advice or a certain amount of hours in return for a product that you really need. Accountants and lawyers regularly charge $50 or more an hour and bartering can add up quickly.
You can also sign up to barter online. If you sign up at www.ubarter.com you simply list the item you are willing to sell and get ready to review proposed trades. It simply saves money and provides you with a way to contact others not in your immediate area for proposed trades.
Bartering has become quite popular between small businesses due to the economic crunch. If you find that you are struggling to move merchandise or you are in dire need of supplies with inventory or time to spare, consider bartering.
Contact local businesses in your area and propose your trade. The worst they can say is no and you move on to the next company.