Do you remember back in elementary school when you and your friends would trade lunches with one and other? Even back in grade school we as humans have a natural instinct to barter.
As defined, Barter is ‘to exchange things (such as products or services) for other things instead of for money. Simple, right?
At New England Trade, Inc., members are simple agreeing to accept an additional form of currency for their products or services, Trade dollars. Those earned Trade dollars can then be used to purchase other various goods and services within the barter network – either for business or personal purposes.
In 2011, over 400,000 companies worldwide used barter to earn an estimated $12 billion. More and more businesses are looking for an additional channel to increase revenues as customers’ budgets are becoming tighter and tighter. Barter creates a competitive advantage in such economy, helping your business flourish.
The most common questions received when an individual learns of the existence of barter (trade) exchanges are: What does a barter (trade) exchange do? How can barter help my business?
Who We Are:
A membership-based association, New England Trade, Inc. members buy and sell products and services with other members of the barter network using Trade Dollars, which are equivalent to U.S. dollars (One Trade Dollar = One U.S. Dollar).
New England Trade, Inc. acts as a third-party record keeper, just like a bank, providing monthly statements and current Trade dollar balances. All transactions are recorded pursuant to trading procedures, policies, rules and regulations of New England Trade, Inc. and the IRS.
Unlike a bank, however, New England Trade, Inc. connects you directly with participating members to gain new business. By joining a trade exchange, members utilize barter to reduce costs, fill employee downtime, increase brand awareness, reach new markets, and ultimately enhance revenues.
Why Your Company Should Barter:
Every company strives for new business – that is how a company grows, is it not? There is also always employee downtime during off-peak days and times; excess inventory not sold is cash down the drain; and the need for additional ways to promote the business is always desired. This is where barter can be an advantageous move for businesses to take part in. Taking part in the age-old method of barter, businesses are able to employ a dynamic marketing tool that will increase sales for the company and save cash flow. Sales are generated that may not have been if cash was required, since members of a barter company are more apt to purchase from other members within the exchange; and cash flow is saved when a member uses Trade dollars for an expense that would have been paid for with cash.
The use of Trade dollars is virtually no different than other payment methods that take part in a cash economy. For example, every restaurant has its off-peak times at certain hours of certain days. If the food is not prepared, the restaurant’s perishable inventory will be thrown away resulting in loss revenue. By utilizing barter, a restaurant can fill those empty tables with new business, extracting the most value of its perishable inventory. Being promoted within the trade exchange increases the business’s brand to new customers, who in turn will introduce the restaurant to even more new customers. Overall, trade is simply an alternative payment method.
Remember: Cash may be King, but Barter is the next best thing!
For more information on how New England Trade, Inc. operates, or to learn more about the benefits of barter, visit www.newenglandtrade.com or call 781-388-9200.