When small firms find the cash-flow well dry and credit non-existent, where do they go? Answer: to the past. The credit crunch is bringing back some practices that many firms found obsolete until recently — namely, barter.
Certain experts have found trade “critical” to small businesses survival during this recession.
One southern company hashed out a deal with a sandwich shop that was around three months late on a $1,500 bill. What happened: The sub shop agreed to cater lunch for the firm five times in six months, in addition to paying $500 on its bill.
If you have a long-standing relationship with any customers that have fallen on tough times, it may be worth looking into trade arrangements.
In addition to company to company trade, barter companies help facilitate trade between businesses in its membership network for small set-up and transaction fees.
If you are interested in finding out more about these types of companies and how they work, check out these examples:
NuBarter at http://www.nubarter.com/
BizXchange at http://www.bizx.com/
