As a small business owner, it’s always hard to find ways to do things smarter and more efficiently. How do you keep across the day-to-day, and at the same time find ways to grow your business?
We know you’d rather spend time on your business than on the administration side of things, so you need solutions that are convenient, simple to understand and use, and are supplied by professionals you can trust.
Bartercard is both a payment alternative and sales network, so being a Bartercard member can not only help you improve your cash flow, but also grow your business. Here’s how…
Discover in-depth how Bartercard can work for your business, with our free eBook – “How to Use Bartercard to Grow Your Business”. Download the eBook here.
1. An advance on your trade dollar sales frees up cash flow
Bartercard is a currency just like a credit card or another bank account, but instead of cash, it is an electronic currency that can be transacted via EFTPOS, online, the Bartercard app, over the phone, or by transaction vouchers similar to those used with a credit card. So with Bartercard, you can conserve cash while always having access to goods and services available through the Bartercard network.
In this way, Bartercard offers an advance on your trade dollar sales so you can continue to make purchases even during times when cash flow is a bit tough.
2. Get rid of excess stock and increase occupancy – without discounting
Bartercard helps you put inventory, equipment, and employees to good use, converting downtime and spare capacity (such as businesses who experience seasonal markets) into new revenue which would not have been available otherwise. It also provides a system to put that excess to use in profitable ways.
Sell excess or unwanted stock without the need to discount heavily, which can result in reducing perceived value and risking a potential price war with competitors.
3. Reach an entirely new customer base
Bartercard’s large referral network means you can promote your products and services to new potential customers – other members of the Bartercard network. The new customers generated by Bartercard are on top of your existing cash business, and therefore you don’t need to worry about this business interfering with your existing business model.
And as you know, the key to sales success is referrals and word-of-mouth. Bartercard members are more likely to spend with other members, providing an increased advantage over competitors.
Bartercard can increase business through the door by 5-15% and increase net cash profit.
4. Build staff loyalty
You know that the retention of good staff is vital in the performance and profitability of your business. But finding ways to reward staff that go the extra mile for the business without increasing wages or salaries can be tricky (and anything that goes through the payroll will incur PAYE). The great news is that you can use Bartercard Trade Dollars for employee bonuses, incentive schemes or gifts – rewarding those who contribute to the growth of your business.
If Trade Dollar donations are kept under $300/person a quarter, there are no tax implications as it is recognised under fringe benefit rules.
Would you like to learn more about using Bartercard to help your business? Download our full guide to get more in-depth advice and guidance on how Bartercard can work for you.