SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Every business needs a secret weapon. From tech companies with amazing gadgetry to brand marketers with hard-hitting promotions, secret weapons can turn a decent business into powerful growth.
In this great recession, many entrepreneurs and businesses moved to alternate economic methods to build customer growth and grow their companies in order to survive. Many found solace in trading goods and services for barter instead of dollars, leading to the renewed growth of barter among companies. One of the oldest forms of deal-making, barter trading has skyrocketed in recent years with the exchange of goods and services.
"Bartering has become a big growth business, one that’s expected to grow into a $20-billion annual global business," says Brian Beal, Partner of Value Card Alliance, one of the US’s fastest-growing barter trade exchanges. "The economy has caused entrepreneurs to open to new ways of doing business. We expect growth of barter to grow exponentially.”
Barter trading for goods and services accounts for approximately 30% of the world's total business (U.S. Department of Commerce). Approximately 400,000 businesses are involved in organized barter through barter exchanges. There are approximately 600 commercial and corporate barter companies serving all parts of the world. Approximately 100 of the most professional trade exchanges are members of International Reciprocal Trade Association. IRTA estimates that the 400,000 participating businesses transacted $12 billion globally in 2009/2010 — and it is anticipated that the trade volume will grow another 5 to 10% in 2011.
Because general business budgets have become restricted, companies have looked to other means to create value. Using the Value Card Alliance, entrepreneurs join a network of over 50,000 to create added value in doing business. Mr. Beal states, “All businesses have been hit pretty hard, but we all have to pick ourselves up and adapt. It takes creativity, ingenuity, and ideas. The world of barter is a new way to open the doors to new opportunities that weren't previously on the table."
Value Card Alliance (VCA) members prefer to purchase goods and services using VCA trading dollars within its system, as opposed to non-member suppliers who only deal in cash. Using Barter results in increased sales opportunities for members and new customers outside their normal geographic market because Barter members go out of their way to buy from another Trade Associate member. VCA business owners work in the network for others’ goods and services, or to turn products into cash. And that cash is very, very real.