Anyone who has ever started their own business will know hard it can be, with little or no cash coming in and with the business requiring so much of your time. However, there will usually come a day when you need to take stock and work out some way of making some extra income until you’ve established yourself.
By joining the Bartercard network, you can boost your income and free up cash for your business. Joining Bartercard is a genuine way to add an extra income stream to your business.
Improving inventory management
If you are having trouble converting older or excess inventory into revenue, bartering can be just what you need to clear that shelf space. Instead of liquidating excessive inventory at discounted rates, you can turn them into profitable stock by using the Bartercard network. Trade your excess products in exchange for goods/services. You don’t need to devalue your product, your investment won’t go obsolete, and you get to exchange for something that you would have otherwise paid for in cash!
How to produce an additional source of revenue
If maintaining a healthy cash reserve is a constant struggle, bartering can help you keep hold of revenue. For new business owners, Bartercard serves as the ideal platform to trade your products/services with other members. Though you don’t make money out of this union directly, it can help keep a greater amount of cash on reserve for future investments and expenses. Also, exchanging unwanted assets for something valuable can safeguard cash that would otherwise be lost.
For example, you could do some work for someone in the network and then use your trade dollars to buy many of your stationery supplies. Or put it towards your work vehicle costs, furniture for your workplace, or even repaint your house. Then there are the lifestyle benefits of travel and other personal services.
Cash savings are the primary benefit of bartering. Bartering allows you, as a business owner, to pay for what you need with your goods or services, allowing you to preserve working capital for other expenses.
Bartering helps reduce cash outlays for overhead costs. Many of the services offered through bartering, such as accounting, cleaning, gifts, restaurant dining and travel, relate to overhead costs. Obtaining these overhead services through bartering, rather than writing out a cheque, saves you cash.
The extra income your business needs
In this challenging economic climate, we here at Bartercard Sydney understand that it’s more important than ever for businesses to think outside the box. Even if your doors are closed, or you’re working in a reduced capacity, you can still get new customers, offset your expenses, and keep cash in your business while continuing to strengthen and expand your networks.
Just as Bartercard members save valuable cash when they spend with you, the same applies when you spend with Bartercard members! By using your Trade Dollars, you’re keeping valuable cash in your business. Become a Bartercard member today and see what your trade dollars could mean for you!