Significant milestones for Bartercard
Although barter is the oldest form of commerce it is one that continues to grow in New Zealand. This week has seen Bartercard reach two major milestones: ten years under its current shareholders, and more than $2.5 billion traded.
The Bartercard New Zealand franchise was bought from Bartercard International in 2001 by current shareholders, Tony Falkenstein and Ian Malcolm.
Paul Bolte, Bartercard New Zealand CEO, says investments of energy and vision into the business since that time have seen it grow to trade over $200 million dollars each year.
"Bartercard members in New Zealand have now generated over $1.25 billion in additional sales and made purchases of over $1.25 billion within the trade exchange" Bolte says.
Transactions are made in 'Trade Dollars', which are the equivalent of normal New Zealand dollars, the only difference being that they can only be used within the Bartercard system. They are treated exactly the same as cash dollars for accounting and taxation purposes.
The Bartercard organisation acts as a third party record keeper for its members' transactions using a sophisticated, fully computerised system. It also provides a professional team of trade brokers who actively promote members' products and services to others, helping them generate new business, as well as utilising down-time or idle inventory to conserve cash resources.
Bolte says when other businesses were struggling during the economic recession of 2008 to 2010, Bartercard NZ grew by 24%.
"Such sustained growth confirms Bartercard's credentials as an effective business tool throughout the business cycle," Bolte says.
Bartercard is now working to grow its membership base to trade more than half a billion yearly.
"By growing the exchange we are bringing our members’ businesses increased potential customers, straight to their door, at no extra cost or effort to their business,” says Bolte.
The future of Bartercard will see more members, more trading, more turnover, more communication, and more electronic tools to make trading even easier.
If you want to grow, or sell your business, gain more customers or move stock, and simply don’t have the cash flow to do this, then Bartercard could be a valuable tool for your business.