|Savvy businesses looking to maximise their cash flow and streamline their expenses are constantly seeking new solutions, but sometimes the old ones deserve to be revisited. For thousands of business owners in New Zealand, the answer can be found in the age-old bartering system, specifically the business network Bartercard.
With thousands of local business members, Bartercard aims to boost net cash profits by 5-15% with their Trade Dollars, a virtual currency network that helps businesses move more products and services in exchange for what their business needs.
How the Bartercard network benefits businesses
Bartercard builds a business-to-business network around a digital currency known as Trade Dollars. This business network benefits users in significant ways.
Extending your business network
Bartercard’s business membership includes over 6,000 New Zealand businesses, encompassing a wide range of industries. This expansive business network is arguably Bartercard’s most substantial benefit, connecting business owners with resources they wouldn’t otherwise have had.
Moving excess inventory
The Bartercard network is an effective arena to move inventory your business may otherwise have been struggling to sell over the counter or from the showroom floor. Excess stock can be bartered within the network in exchange for goods and services that can directly benefit you or your business.
Reducing cash expenses
By turning excess inventory into goods and services that empower your business, you are reducing cash expenses and streamlining cash flow.
Bartercard Success Stories
Arriving on New Zealand shores in 1992, Bartercard’s longevity has been a testament to the asset they’ve proven to be for thousands of member businesses, many of which have been eager to share their stories.
Just Water, a national supplier of water coolers, recently merged with Aqua Cool and used Bartercard’s Trade Dollars to streamline the merger and unify the teams, all while conserving cash and maximising the project’s budget. By taking a smaller proportion of their margin upfront to compile a Bartercard Expense fund whenever additional business was generated, Just Water secured a vast array of essential services for their business, including electrical wiring, computer cabling, and air conditioning.
With a successful merger fit-out complete, Just Water used Bartercard to host 200 employees at a Rotorua national conference, securing accommodation, catering, and entertainment through the business network.
Pixies Pet Resort
Initially reluctant to join, Pixies Pet Resort quickly discovered the inherent benefits of the Bartercard network. The small, family business had managed little expendable income with foster children to care for at home, but soon found themselves on a family holiday in Fiji, pampering the children with ice cream and spa treatments. While in Fiji, however, the family became aware of the feral conditions that dogs endured in the impoverished local communities, and through the Bartercard network managed to secure a partnership with Animal Rehoming to send dog food to remote islanders.
Touch NZ, a non-profit organisation organising touch rugby in local communities, have used Bartercard to save money through a subsidy sponsorship and have saved money on equipment and merchandise with Trade Dollars. Together with their Bartercard trade broker, Touch NZ don’t let their Trade Dollars go to waste, putting them toward printing costs, Christmas events, and other essential business needs.
Margaret Fraser says she has identified key cash expense services she can arrange through the Bartercard network so that she can devote her standard business revenue to the core costs of running her business. She devotes her Trade Dollars to expense items like rubbish collections, computer R&M, lawncare, and floral arrangements for their reception area.
With Bartercard, Margaret was able to grow her business so much that they could extend their reach beyond New Zealand’s shores! Now offering beauty therapy training three times a year in Rarotonga, Allure Nails covers costs like accommodation, car rental, and dining to save cash and maximise profits from their training seminars.
New Zealand real estate heavyweight Harcourts joined the Bartercard network in 2015 and soon found that major line items like billboards, client incentives, radio advertising, and sign writing for their cars and office spaces could be acquired via their Trade Dollars.
According to Harcourts’ Shaun Cosgrove, “This has really helped me to preserve cash flow by allowing me to spend Trade Dollars on business expenses… I’ve experienced opportunities that I wouldn’t normally have had – building a network of suppliers and tradespeople that I have won business through and reciprocated business with as well.”
Waitara Floral Studio and Gift
Since joining the Bartercard network in 2015, Waitara Flora Studio and Gift have dedicated their Trade Dollars to subtle, supplemental investments that give the business a competitive edge. Through the network, they have secured items like EFTPOSpaper rolls and receipt books, first aid kits, gifts for staff, display items, uniforms, promotional items and signwriting, and basic repairs and maintenance.
Even more significantly, the contacts Waitara Floral Studio and Gift made through the Bartercard network resulted in more regular customers and exposure to a wider customer base.
Doyle Trinh of Best Tax Ltd, Sumich & Associates, and Tailor Made Suits
Successful Auckland business owner Doyle Trinh touts the Bartercard network as a valuable resource to fill workflow downtime.
“Every business has spare capacity from time to time,” he says.“We, as business owners, would always work hard, for ourselves, but we also want to make sure our staff always have work to do rather than sitting around doing nothing and still getting paid. This channel has been great for us and many others that we know of.”
For Jenni May in Feilding, Bartercard helped her get her restaurant off the ground sooner than she had hoped for. She secured major services like furnishings and plumbing through the network during construction and continues to purchase her restaurant’s wine in bulk. With the money they saved, the Amayjen Restaurant created a purpose-built function room ahead of schedule.
Does your business stand to benefit from Bartercard’s trade network?
Head over to the Bartercard NZ website to read more member reviews and testimonials, and learn more about how Bartercard can help your business grow.