For some businesses, July sees the start of a new financial year so what better time than to reassess your business and put positive change into place. While the internet isn’t short of business growth strategies to make the most of the financial year. However, the reality of running a business can be tough – especially in a fast-paced digital world where the only constant is change.
The biggest challenge faced by businesses
From managing budgets to staying relevant and constantly evolving, it isn’t for the faint-hearted! When asked what the most significant challenge in business was, Bartercard restaurant members said that apart from staffing and retaining customers, it was cash flow which kept them awake at night. While making it in a competitive business world isn’t easy, Bartercard addresses these pain points. The cash-alternative marketplace not only attracts new customers but boosts cash flow by letting members conserve cash (business and lifestyle expenses) across almost every industry.
Addressing Cash flow with bartering
The concept of barter isn’t new and spans centuries back. Just like the baker traded with the flour mill, today there are hundreds of communities worldwide where barter is used to take cash out of the picture – for example, in Greece, which has built up a viable barter economy of scale since its economic collapse. In 1934 Switzerland launched WIR* to keep businesses functioning during the Great Depression. It currently has 60,000 users. Likewise, barter is used in many smaller communities as a way to support local business in a radically shifting digital landscape where companies like Amazon directly compete and make it difficult to increase business profits.
How can Bartercard help your business?
Bartercard is the world’s largest trade exchange that’s evolved the concept of a direct swap to a flexible credit card-style system. Today members are trading everything from a hamburger to a multi-million development, holidays, retail products and services through a cash alternative currency to stay ahead of the curve. And because face-to-face is still the strongest way to build trust, Bartercard regularly hosts industry events inviting members to see where they can make cashless transactions. Our mid-year Trade Show showcased everything from spas to tableware which was available to purchase in Bartercard’s cash-alternative currency. By using Bartercard instead of cash, members saved $83 million in the last financial year 2017/18 stemming from events like this while attracting new customers.
There are over 6,000 registered Bartercard businesses New Zealand wide, including restaurants, bars, hotels, resorts and suppliers that utilise Bartercard as one of their primary business growth strategies to attract and retain customers, increase business profits and feel energised by your business, contact Bartercard about joining today.
*WIR is an independent complementary currency system in Switzerland that serves businesses in hospitality, construction, manufacturing, retail, and professional services. WIR issues and manages a private currency called the WIR Franc, which is used in combination with the Swiss Franc to generate dual-currency transactions (Wikipedia).