Trade dollars can benefit your business in numerous ways. Beyond the simple concept of exchanging good and services, Bartercard takes the barter system a notch higher by employing technology to provide businesses access to an expansive network of like-minded businesses. This allows businesses to exchange products and services and increase business sales by up to 10% within the first 12 months of being a member. Together with the help of experienced Account Specialists, Bartercard makes sure your business’ excess stock and downtime translate into increased sales.
This is the core of what Bartercard does. It delivers new customers to fill your business’ spare capacity. As a business transacting with trade dollars, you may wonder what ways you can maximise your use of them. Today, we discuss the ways you can use your trade dollars to grow your business even further.
Other Products and Services
Trade dollars are like real cash. One trade dollar is equivalent to one New Zealand dollar. And there is no difference between cash and trade dollars when it comes to recording sales as income or purchases as an expense or asset. Trade dollars are exchanged between members to pay for goods and services. Let’s say, for example, you need to buy something for your business; you can use your trade dollars to pay for it when transacting with other members in the Bartercard network.
The trade dollars you earn, on the other hand, can be used in a variety of ways. You could benefit from the services of other members, such as catering services, computer repairs, carpet cleaning, hotel bookings, and so much more. All of these also expand your network, and keep your cash stashed in the bank.
Employee Incentive and Bonus Payments
Trade dollars can also serve as an employee bonus for workers who truly deserve it. They can act as an incentive scheme for your employees and you can offer them as a gift card, amounting to T$100 or T$500. Businesses can also set up each employee with a staff card, and you could pay a certain percentage of their salary in trade dollars. This is a great way to motivate your workers to keep your business up and going. They can use the trade dollars the same way as you would, to access other goods and services in accordance with their personal preferences. They’re free to choose where to personally spend their trade dollars without touching their cash.
Trade dollars can also be used in buying property investments. When you use trade dollars for a portion of the purchase price, you can significantly reduce your cash borrowings thereby reducing interest costs. Bartercard also offers an interest-free line of credit, which enables you to purchase property without the major cash outlay. This is a good way to use your trade dollars and obtain a profitable investment.
Maximise your trade dollars with Bartercard!
Bartercard provides plenty of opportunities for you to maximise your trade dollars. You can tap new markets, expand your network, reward your staff, and make sound financial investments without touching your cash bank. Contact Bartercard today to know more about trade dollars.