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How to protect your business when bartering

How your business can get the best out of the bartering system

Before you sign up to a barter company or business exchange there are a number of things you should consider. Firstly, look at the company itself, find out how long it has been going, what its churn rate is and even look at its accounts if possible.

Secondly, look at the membership and make sure that the businesses are offering goods or services that you will use, and that they are potential customers. Then talk to some of the members and get references to support the promises made by the bartering company.

Look at the numbers involved. Work out how much you will be saving, what percentage you will be paying to the company and whether there is an annual fee or a one off joining fee. Many of the barter companies have a calculator on their web site that allows you to work out approximate savings.

Finally, find out how the barter company will market you. “Some companies will take a truly proactive approach and market your offering effectively,” says TBEx Managing Director, Richard Logie. “Others will treat you as number 661 and never truly get to know your business or make the most of opportunities for you.”

There are undeniable benefits for start-ups and small businesses. Explore the possibilities – you might even discover a whole new market.

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