As business owners reopen their doors in the wake of New Zealand’s lockdown, Bartercard is offering many fresh ways to get cash flow moving again. Business may not be the same as it was before COVID-19, but for some, it could be even better.
Many business owners are successfully utilising Bartercard as part of their business recovery strategy, often to great results. They are tapping into the large Bartercard network to sell off their excess or dormant stock and taking advantage of the interest-free line of credit to conserve their cash. Across the world, they are networking with other businesses to help each other out of the crisis, and into trading again.
Below, we explore three simple ways you can make use of Bartercard’s business benefits to achieve greater results as you continue down the road to recovery.
Selling off excess stock
While your business has been closed (or only partially open), you may have accumulated excess stock. It’s now sitting dormant, and you need to move it. In the cash economy, you would need to spend money on advertising to sell off that stock, often at a heavily discounted price. At worst, you might even have to write it off, resulting in a major blow to your bottom line.
Through the Bartercard network, you can sell your excess inventory to other business members at the full selling price using trade dollars. Bartercard members are happy to pay you full price if it means using their trade dollars, especially in this economic climate.
You can also save on advertising by listing your goods on the free platforms offered to Bartercard members. It’s the perfect opportunity to sell the stock you no longer need and recoup the full value price.
As a Bartercard member, you can then use your trade dollars to offset business expenses and keep cash in your business.
Conserving cash with an interest-free line of credit
Bartercard offers its members an interest-free line of credit in trade dollars. This has helped many businesses continue to make trade purchases during these challenging times.
Trade dollars are just another form of electronic currency—such as a credit card or bank account—and can be transacted via EFTPOS, online, over the phone, using the Bartercard App, or through vouchers.
Business members have used their trade dollars to purchase much-needed equipment, upgrade computer systems, build new websites, or even advertise to attract new cash customers.
Paying for these goods and services in trade dollars has kept cash in their business, which has been vitally important during this slow period.
Building business networks to get more customers
Bartercard members have access to the world’s largest business-to-business trade exchange with tens of thousands of member businesses across eight countries. This exclusive members-only network introduces you to like-minded business people through networking and virtual events. You can begin to expand your marketing reach locally, nationally, and internationally with a new avenue to reach potential customers.
It just makes sense that Bartercard members would want to do business with other Bartercard members. Why pay cash for products and services when you could pay with trade dollars instead?
Networking with Bartercard members helps you get more customers on top of your existing business, and it doesn’t cost you anything to advertise to them.
Furthermore, Bartercard members can pass the word of your quality products or services along to other members of their business network, opening a whole new channel of opportunities to attract new customers.
Expand your target market with Bartercard
As business owners emerge from lockdown and plan their recovery, working together has never been more important. We must support one another and find better ways to do business together.
Find out how Bartercard can support you in building a better business moving forward. Watch this short video to discover why more businesses than ever are turning to Bartercard.