Swapping Goods and Services Through Barter Clubs
Bartering is not really a new concept. For all you know, you may have been bartering since you were a kid! Remember that time when you would "trade" your services for doing household chores, in exchange for a new comic book? Bartering must have been your first test on how business savvy you would be when you grow up. Bartering may be considered by some as a "passe" idea, but that's not true, at all. With the downtrend in the economy, people are becoming more creative and resourceful in getting the stuff they need, without paying cash for it. And with a simple click of the mouse these days, you can actually find something in exchange of some things just sitting around in your garage for something you...
Accounting For Barter Transactions
The difficult economic climate of recent years has led more businesses to utilize barter transactions, in which they trade their products and services for other products and services. Many businesses wrongly assume they don't need to account for these transactions. Accounting for bartering transactions is required by the IRS and is essential to accurately determining the financial health of your business. When you barter for other goods and services, you are still investing time and resources to sell the item you are trading. You are simply receiving a commodity other than cash in exchange for your product or service. Not accounting for barter transactions is equivalent to not accounting for revenue...
No Cash to Pay For Things You Need? Consider Barter Trading Now
You may complain all you want about the faltering economy, but look again: some people are actually gaining from this crisis! More and more people are turning their backs from a cash based economy and using what has been an old tradition for most societies - barter trading of goods and services. Barter trading is becoming popular again, because of the ease of conducting barter transactions, due to the many online barter trading sites that one can find on the Internet. You can trade practically anything in exchange for some things that you need, but may not have enough cash to pay for. If you are offering a freelance service, like fixing air conditioners, for example, you can actually trade this...
Barter Groups Help Develop New Customer Relationships
This area opens you up to a whole new world of doing business. It doesn't require much cash and gives you an opportunity to do business with your existing customers and find new ones. New customers are always a good thing. Barter Dollars to trade goods and services, when business is slow and your customers are leary about spending any sum of cash. How do you create barter dollars and find others who will accept them. You join a Barter Company, who specializes in finding other companies who want to trade goods and services and pay a small fee for this process. There are at least five reasons to join a barter group. 1. Most guarantee you additional business. 2. They advertise your company and services...
Business Bartering and Other Guerrilla Purchasing Techniques
Business bartering is one of the most effective ways to preserve cash and working capital for the companies that know how to effectively execute this strategy. Bartering is by far the oldest form of commercial transaction in the world, and still remains one of the most effective. In barter arrangements, products and services are exchanged with other parties for their products and services. And everybody gets to keep their money. Using barter in your business 1. Advertising And Media Barter arrangements can be very useful for gaining placement in newspapers, trade publications, and other media advertising outlets. The founder of $100 million dollar newsletter publisher, Boardroom Inc, talks about how...
Barter Items - An Alternative Economic System
Bartering was a very important part of the economic systems of early communities. The primary economic activity was bartering food for services or non-food items. When little, valuable barter items were starting to be utilized as a way to receive items and services without using cash is how our modern monetary system grew out of bartering. The internet is what may have reintroduced bartering back into our economic systems. The internet is capable of connecting an infiniate number of traders where the loss of physical marketplaces once hampered the barter system. Now anyone with barter items can just list them and what they want in return on the internet and just wait until they are contacted by...
Starting a Work Barter Network
There are millions of people in society who cannot get work when plenty of work needs doing. Even more people are left to survive on meager incomes as a result of crazy economic systems with advanced technologies but poor social prospects for many. Economics will change in due course because people do not want to be held back as social freedom depends upon economic freedom to a large extent. It is no use relying upon the promise of boom cycles or globalization because this has been shown to be simply false. The globalization trend pulls our local industries apart on the back of very cheap labor in countries like China. There never has been a fair playing field in this regard. Changes are coming and...
Advantages of Open Source Barter Software
Open source barter software allows anyone to modify it to their needs. Basically, with an open source encoding you, the consumer, is in control of what you want to place on your website. Since, it's your online business; you can personalize the software to any degree you see fit. This is important when it comes to certain aspects you want to highlight with your business. If you want higher viewer traffic, you want to consider your audience, and the overall look and appeal of your online bartering website. That is how you will keep your customers happy, and repeat business will flourish. Online bartering can give you the upper hand in competing with other businesses online. Bartering will save your...
The Benefits of Business-to-Business Bartering
Barter is not a new idea. It has, in fact, been around seemingly forever. There is a good reason for that. The act of bartering - exchanging goods and services for goods and/or services- is generally beneficial to both parties. Bartering often takes place between two individuals (consumers), but it also frequently occurs in a business-to-business environment. In fact, there are companies today that act as a sort of clearinghouse for businesses that wish to engage in bartering. These barter exchange firms offer memberships, primarily to small businesses, and the businesses that have obtained the memberships can then engage in bartering arrangements with other members. It works for both parties...
Take Advantage of a Bartering Service
Many freelance writers and small business owners can benefit from using a bartering service like Premier Barter located in AZ. This is a great way to exchange services and network at the same time. Not only will you receive what you need, but you'll meet great people and possible clients. Bartering is nothing new. People have been bartering for centuries. Due to the current economic conditions, bartering services have been receiving a tremendous amount of attention. Some services charge a monthly fee while others charge a flat fee or commission. The fee you pay will pay for itself because you'll save time and money on the services that you need. "Bartering occurs when you exchange goods or services...
Visit an Online Swap Meet at Revolutionary New Barter Websites
It was only a matter of time until they made their appearance and now they are available as an alternative to standard auction sites, such as Ebay. What they are is barter websites, where rather than bidding on items you are interested in, or taking bids on items that you are selling, a revolutionary new idea is taking hold. The way that it works, is that visitors to these websites quite literally bargain with each other to arrange direct trades with one another that don't involve money. Time to Clean Out Your Garage or Basement Now sports memorabilia collectors, auto enthusiasts and people interested in all types of clothing and fashion accessories and music are just a few of the types of folks...
Office Space Renting Strategies - Barter Services to Keep the Machine Moving
In one of my office buildings, I now use an accountant from our building to do all my returns, the title company to do all my settlements, a Web site designer who does our Web sites as well as my business cards, a marketing guy who does brochures for me and also helps me make wise business decisions, an insurance broker who handles my liability policies, an attorney who helps me with evictions, my real estate broker where I hang my license, and a staffing company that helps fill my temporary needs. I think you get the idea about doing business with the people who do business with your business. Not only does it make your life very efficient when the people you need to talk to every day are only...
Barter, A New Approach to an , Old concept
ign="center"> Barter System We come to know the barter system usually when we study how our ancestors were engaging in business. thanks to modern technology, the barter system has become alive again and gaining popularity fast. The Net marketing business could prove the undeniable fact that the barter system has made a powerful comeback, enabling people to trade products without money. Barter system, or cross promoting, as it is called in the web marketing world, is in place to trade of advertising space. The enormous communicating powers of the web has gave the chance for us to join a barter exchange, and significantly benefit by getting new patrons. The wonderful thing about a barter system...
The IRS and Barter Explained
ign="center"> The IRS cares about your barter trades. It may be hard to believe, but the IRS considers $1.00 in barter trade to be equivalent to $1.00 cash. The key point for you is, your barter trade is taxable income in the eyes of the U.S. government. You should not, however, let this knowledge put you off of bartering. In fact, barter is still one of the smartest money decisions you can make. The IRS interest in barter, though, is a great reason to join a reputable online barter club. The best barter clubs will handle the difficult part of the IRS paperwork for you, freeing you up to engage in pure barter bliss! So don’t be afraid if you join a barter club and are asked for your...
Barter - An Introduction to the Oldest Marketing Tool for Business
When you hear the word 'Barter' do you instinctively think of two farmers trading a horse for a cow, or the likes of latter-day trappers carrying furs to a trading post to exchange them for food and provisions, or like millions of savvy business owners around the globe, do you think of a high-tech way of marketing your goods and services beyond your usual scope, and becoming more efficient in the process? It's strange that during my entire business education at university (and I was fortunate enough to be educated in some of the best business establishments in London, Munich and Florence)not once did the word nor concept of barter ever surface - even in economics. Strange, don't you think, when...
Taxes and Bartering
Bartering may very well be the most ancient form of trade, and it still goes on today. It is not uncommon to find companies bartering services or goods. Bartering is, unfortunately, taxable. Bartering is the exchange of goods or services without the exchange of cash. Goods and services are simply traded, one in return for the other. Any professional or business owner can participate in bartering. However, when you barter, you must consider the fair market value of the items or services bartered as income. Barter can be handled on a one-on-one basis between businesses or individuals, or it make take place through the services of a barter exchange company. There are all sorts of tax liabilities...
5 Tips to Succeed In Bartering
No, this article is not going to teach you how to exchange your goats with your neighbor’s chickens, although that may not be such a bad idea anymore, during these desperate times. This is a simple guide for those who are rediscovering the value of barter trading, which is making a comeback because of the economic benefits that people get out of it. Bartering, as many of us know, is the act of exchanging goods or services without using money. Modern day bartering can now be done through the Internet, via online barter clubs which act as trading portals. People who want the ease and functionality of a website can join these barter clubs, find good deals, and get the deal done using trade dollars...
The Secret of Bartering
Many centuries back, before money was used as a global currency, people were just content to exchange their products and services with each other. People seemed to know how to place value on things that they owned and things that they wanted. Money was never an issue, because it didn't exist yet. Our ancestors paid for the things they needed with the goods they produced or the skills they had. Nations traded with each other through barter. China was one of the biggest traders, exchanging their silks and spices for almost anything they needed. Barter trade is so ancient that some people think it's no longer practiced. Yet, nowadays, for some who are fed up with today's complicated and mixed up...
Bartering With a Trade Group Or on My Own?
Barter groups will tell you that they will bring in business that you probably wouldn't get because of the geographic area they can cover. Which is pretty much physically impossible for you to do. They'll tell you that they can save you time... time training, time pounding the pavement, time managing the barter deals you make & time coming up with ways to spend your Barter dollars. All of this is basically true. There are however, some things that you need to be aware of that may alter the effectiveness of a barter group. For the record... I am an advocate of barter groups as long as they fit certain criteria. So you shouldn't assume that I'm advocating private bartering over barter groups as a...
Now You Can Collect the Debt That
ody"> Especially in these challenging economic times, it is becoming more and more difficult for businesses to collect on all the debts that are owed them. The first instinct of such businesses is likely to call a debt collector. Sadly, a business is likely to pay a debt collector 40-60% of the amount owed on the debt — if the debt is even collected. Such numbers do not add up to good business. Rather than chasing debt which may or may not be collectible, consider trying to get what is owed to you by barter. Every company has something to offer in trade, and most would be willing (and happy!) to trade you their services in exchange for the money they owe you. In order to try to recover...
Using Barter Can Boost Your Profits & Cut Costs
"body"> Companies of every size and description, from the entrepreneurial startups to multi-national giants, are now acquiring needed goods and services through barter, corporate barter and countertrade. Here's how companies of any size can start to save money by looking for bartering opportunities with their suppliers... Barter Rule #1: Virtually anything your company pays cash for is a prime candidate for utilizing barter. Start by evaluating every product or service your company buys from the point of view of a barter opportunity. Could you consider exchanging your company's product or service as payment, or partial payment, to a supplier/vendor? This is direct barter, and involves an agreement...
Bartering and Trade - A Surefire Secure Financial Strategy
Businesses all over the country are using unique methods of bartering and trade to help secure their financial strategies in these tough economic times. Small businesses, especially, that may not have the deep pockets like large businesses do find that utilizing bartering and trading can help their bottom line. For example, a small fleet of pleasure cruise boats have a certain percentage of empty rooms for every cruise. They barter with a national magazine for advertising space and trading one empty room for the cost of that advertising. The magazine gains by having access to a pleasure boat cruise whenever they need it. And the owner of the fleet of boats certainly gains by having millions of...
A Secret to Increase Sales and Reduce Costs
As the economy slows and all businesses look to conserve cash, bartering will help you increase sales, reduce costs, improve cash flow and drastically boost your profits. It will give you the advantage you need to maximize your profitability and retain your competitive edge. Most small business owners completely overlook the concept of bartering-and its value.It does not matter what business or profession you are in, you have the ability to generate finished goods or services that cost less than their market value. For example, if you are a manufacturer of sofas, a sofa may sell for $4,000, but your real cost may only be $400. If you are a stylist and you do makeovers, your services may have a...
How to Find What You Want in the World of Bartering
If you've never bartered before, even deciding what you want to barter for can be intimidating, to say nothing of finding the good or service once you've decided on it. This article helps to steer the reader through the sometimes confusing process of finding what you want in the world of bartering. Maybe you're one of those savvy souls who have already caught on to the fun trend that is barter. Barter has been around for thousands of years, but is just now making a raging comeback. Whether you're new to the world of barter, or have been around the block a few times, though, there is one problem unique to the world of bartering that could potentially slow down your trading efforts. You know your...
Preparing Income Taxes - Including the Many Different Kinds of IRS Form 1099
There are two classes of income information that tax authorities like the Internal Revenue Service (IRS) use to track income; IRS Form W-2 and IRS Form 1099. The IRS W-2 family of forms report wages, salaries, tips and, most important, various federal, state, and voluntary tax withholdings. There are however, many forms of compensation and fund distribution that are not considered wages or salary. The large number of different 1099 forms are used to report all this tax-relevant information. Attach a copy of IRS Form 1099 to your tax return when the form shows any taxes withheld from reported compensation or distributions. Here is a list of some of the more common information documents: Income...
1099 Form - Many Different Forms, Not Just One
Different 1099 Form's So do all these different people who get a 1099 receive the same form from the company, governmental unit or person who gave them money? No - each different form of income mentioned in the prior paragraph has a different 1099 from associated with it. The independent contract worker will receive a 1099-Misc - this stands fro miscellaneous income. As opposed to other forms that are more specific for particular forms of income. The individual or business that receives interest income from the bank will get a 1099-Int from their bank. The 1099-Int from can also be filed by an individual who pays another interest. Form 1099 for Dividends - 1099-Div When a company pays out a dividend...
Boost Your Capital with a Trade Exchange!
ign="center"> When you turn on the news or open a newspaper you're bound to be flooded with stories about financial disaster. From the recent mortgage crisis and stock market dives to small business failures and regular honest people who overextended their credit. Money is tight and everyone is starting to feel it more than ever. Of course, this isn't news. But this might be. There is at least a partial solution for your business... Trade. Trade or barter was around long before money. And it worked great in a simple society... If you were a farmer and had grain to spare you could trade it for something you needed, like cloth to make clothing. But as our needs increased, trade became more complicated...
Long before banks, credit cards, and even cash, people bartered for goods and services. And though it's unlikely that your local supermarket will accept a few hours of your labor in return for a week's worth of groceries, there are still plenty of opportunities for cash-free trading in today's marketplace. The International Reciprocal Trade Association (IRTA) estimates that the total value of goods and services exchanged every year by businesses through reciprocal means exceeds $7 billion, and about 75 percent of that occurs through commercial barter exchanges. Barter exchanges function almost like a cash-less bank for their members by tracking barter credits and taking a small commission on each...
Why Barter is Better and You Need to Be Using it Today
Many people have steered clear of barter due to common myths and misconceptions about the industry as a whole. Things are changing though. More and more people are turning to barter as a result of the current economy, and this makes barter the place to be. With everyone's cash flow shrinking, people and businesses alike are cutting cash costs. If they don't need it, and don't need it now, they won't purchase it. They are holding onto cash tighter than ever. Services that used to be regularly purchased are no longer purchased and even things like hair cutting etc can be considered an added expense, that cannot be afforded. But bartered for, and suddenly they are more willing to do it. Barter...
Building the Business by Benefiting From Bartering
If you're looking for new ways to build your business there is a practical alternative to the conventional buying and selling of goods and services. It's called barter. Traditionally, barter used to be something like" If you cut my hay I'll give you some chickens". Modern barter is the exchange of goods or services through sophisticated barter exchanges - without money changing hands. Members trade goods and services with other members to earn "barter dollars". Using these "barter dollars" any member can trade for goods or services from any of often hundreds of other members, anytime - without using money! It's a great way to get products and services - particularly when cash flow is limited. Barter...
Growing Your Business Profits
Grow your business profits using dollars you have already spent on inventory! Today is a great time to revisit the idea of bartering! With organized barter more automated and efficient, it is a terrific time to take advantage of the increased buying and spending power in addition to the cost savings to operate your business. Many retail stores are closing their doors due to the lack of business and cash flow. Most retail stores believe that by slashing their prices they will cause more customers and traffic to the store. This might be true for that moment, but isnt the real objective to gain NEW customers and LOYAL customers? If a store has the inventory and capacity to increase sales...
Barter Your Services to Meet Your Needs
Bartering is a clever and creative alternative for families on a budget. It's a way of meeting your needs without spending any money. Our need for professional services can range anywhere from plumbers and landscapers to dentists or lawyers. It can even be something as simple as music lessons for your child. No matter what the needs are, bartering your services in return for someone else's is the perfect solution to conserving your cash flow. Online barter sites are a great way to find many people that share your interest, like the plumber or music teacher. You also have the advantage of checking in on a daily basis to see what other services are being offered. You may even come across a service...
When Ebay made its debut back in 1995, it was a completely revolutionary unheard of concept. In very short order however, it literally exploded in popularity and has continued to expand up to the present time. For a good part of the time that it has been in operation, its visitors primarily fit into two distinct categories for the most part, those being buyers and the other category being composed primarily of sellers. However; in recent years that all has began to change as these sites have begun to develop into buy and sell online auction sites by the emergence of more visitors that do just that, buy as well as sell. No Cash Barter Sites As a result of these new demographic changes that have...
New Learning Material Explores the Complexities of Buying and Selling at Online Second Hand Stores
Of course, by now just about everyone has heard the stories of people that have learned to make an actual living by buying and selling products on Ebay. Then there are the clever folks who prowl the isles of their local second hand stores buying certain clothing items that they then reap amazing profits on by reselling them at online auction sites such as Ebay. What are they looking for and how do they know what their buyers are looking for? Do they have some type of extraordinary insight into the whims of fashion conscious online shoppers who are looking for "rare" or "hard to find" items? Polyester Disco Shirts? Believe it or not, incredibly one fashion item that has been selling big to overseas...
Approaches to Community Currencies
With the looming sense that dollars may grow scarce as they did during the Great Depression, local community currencies are getting more press and attention. The Wall Street Journal and New York Times have recently written articles about Ithaca Hours, one of the more well known and longer running community currencies. The Great Depression saw the rise of 30,000 local currencies and today, a growing number of communities are looking into that possibility. There are many ways to approach issuing a community currency. It can have absolutely no intrinsic value or backing, it can be backed by the US Dollar, or it can be backed by a precious metal. Regardless of how it's issued or backed, the determining...
Barter - How Does Barter Work?
Barter, it's a hot-topic these days and all over the news because of the uncertain economy and rising unemployment. This post accompanies a sister article I wrote earlier: Barter: What is Barter Exactly? and will hopefully fill in some extra blanks in your knowledge-gap. To avoid repetition, if you don't know what barter is, I suggest you read that article first, then read this one. Barter is not only the oldest and most proven form of commerce, it is most likely the simplest. Prior to highly-organized national barter companies, that make bartering extremely easy and effective for their members, barter (or trading, as it is otherwise known) dealt predominantly with small amounts/ transactions...
Bartering - Business Exchange of the Future?
"I'll Install your Electricity if you Give Me Five Laptops"! So you're having trouble finding the cash to pay for that new plumber? What about all those new office supplies that you must have in order to increase efficiency? It's rough times out there, but there's a way to get what you need by bartering- exchanging for something a supplier needs and getting paid in trade! According to the International Reciprocal Trade Association about half a million small businesses exchange over $10 billion in sales each year using commercial barter exchanges. Bartering, the trade of goods and services without the exchange of money, is becoming the go-to survival method for businesses during rough economic times...
For 'Barter' or for Worse, this Trade is Here to Stay!
Mention barter and many people think it was something those ancients did byswapping things for food and vice versa when money wasn't around. Its time to wake up dude! You have been there, done that. You have bartered as kids. Remember those super hero comics you got for the baseball cards your pal didn't have? Well, the news is, barter as a form of business is alive and kicking, and making fast inroads into modern trade. A standard dictionary defines barter as trading goods or services without theexchange of money. It is conducted between two parties who have products orservices that each other need. The key word here is 'need'. In ancient times, if atoolmaker wanted eggs, he could only get them if...
Barter, The Electronic Handshake
Business owners are always looking for ways to lower expenses. Bartering allows you to build your profit into your expense and conserve your cash flow. It's just one more tool to use to increase the chances of your company's success. You gain more customers in the process because these are not people that you would have normally done business with. You have more to gain than just new customers, once you've bartered successfully with another business owner, you open yourself up to a new business relationship that can help your company grow for years to come. Bartering online makes it easy to approach companies that you may never have thought of doing business with. Joining an online barter club is a...
Fake Smiles for the Holidays
'Tis the season for... unwanted gifts?! Whatever you celebrate throughout the winter holiday season (that's my stab at fitting into these politically correct times), there are plenty of gift exchanges going on. When it comes to gift giving our loved ones have good intentions, but sometimes they just don't get it right (a good poker face comes in handy at times like these). I like to call this the Unwanted Gift Syndrome. Symptoms of this infliction include: · Psychedelic sweaters with dancing reindeer · Bobble-head dolls of political figures · Homemade arts and crafts · Purple and orange argyle socks They may say that it's the thought that counts, but what really counts is...
The Biggest Mistake You Can Make When Starting a First Time Business
You can use a secret loophole to get what you want and need for your business and personal life... and you can do it easily and logically. You don't have to be a "wheeler and dealer". You don't have to be a "slick talker". You Don't Even Have To Be A Smart Businessman. You can do most of it by mail, e-mail or FAX if you want. Barter is a worldwide, multi-billion dollar industry where literally every kind of business you can think of - in almost every industrialized country in the world - does business in a large network called a "barter exchange". These exchanges are huge buying clubs, where all the different member businesses are automatically inclined to buy from one another. For example... Let's...
Bartering Online
Online bartering has been going on for at least ten years. High profile websites that feature the service have been online for at least five years; a little surfing reveals that they are going through a process of consolidation and realignment. There are a couple of models for online barter. A few sites charge substantial fees for member merchants to join and advertise. Their membership figures number in the tens of thousands. There are also sites that provide free access to people and merchants who wish to barter. Each site has a method of establishing value for the members' goods or services, and each member has an account with the service based on what has been sold or bought. The host site takes...
Astute Business Owners Use Barter
CNN News, the Wall Street Journal, and other respected business anaylists agree customers are reducing their spending of discretionary funds. Purchase transactions are down "across the board" of all segments of commerce due to uncertainty in future economic trends. On the street, shopkeepers report fewer people shopping and spending less per visit. More and more businesses are going out of business as their cashflows dry up. How are the survivors keeping their doors open? They are getting creative, adapting to changes in the marketplace. . . in other words, bringing their marketing techniques into the 21st century. They are using the Internet to reach new markets and reduce cost of reaching their...
Barter Systems, Trading What You Have For What You Want
ring has been around literally forever or nearly so. In fact, bartering predates the use of formal currency as a measure of exchange for labor or goods. What is bartering? Simply put, it’s the exchange of goods or services without the use or exchange of formal currency. You may, for example, barter with a friend to mow your lawn in exchange for babysitting her children for two hours. Or, in a more formal arrangement, you may barter with your landlord to do maintenance or repairs for other tenants in exchange for a reduction in rent. It remains a useful way to exchange goods or services without having to bring money into the equation. Now, bartering has a new twist. With the advent of the...
Real Estate Property Bartering - A Myth Or Reality?
When people directly exchange their products or services with the goods or services of others, the trade is known as barter. Barter system was the most commonly used trade system before the advent of currency notes. As a matter of fact, invention of money hasn't put an end to the barter system altogether, as it is still used in various forms (even more after the arrival of internet). A relatively new phenomenon being introduced on the internet is some websites offering their services for individuals who are looking to trade their real property for any other asset of the same value. Given the fact that there are not many assets that can be exchanged with a real property, therefore most of these...
How To Market Your Business When You're Broke
ign="center"> A question that keeps countless small business owners awake at night is how do I attract customers and grow my business when I have little or no money for marketing? Small business marketing expert, Peter Geisheker of The Geisheker Group, Inc., solves this marketing problem for small business owners by teaching them how to use low cost "Guerrilla Marketing" strategies to grow their business. Peter Geisheker's Top 5 most effective low cost marketing strategies are as follows: 1. Create a revenue sharing partnership with a business that sells a non-competing product to your target market. The way to structure this partnership is that your partner includes information about your product...
Being a Money Magnet - Do You Love Your Life?
Introduction This is probably the most famous question that we often ask ourselves: Why is money important? The obvious answer is that without money, we cannot survive. Think food for our stomach, water for our body composition, air for breathing and shelter for safety. Money is needed for us to catalyse the process of value creation when intrinsic value of goods and services are circulated, so as to maximize our chances of survival and earn the right to luxury. The above statement may sound a bit abstract. However if you will to examine the statement under the premises of survival value and barter trade, you will find it is as clear as ABC. For the benefit of those who come across the term...
Collecting Bad Debts
sinesses suffer from the issue of bad debts (accounts receivable that will most likely remain uncollectible and will be written off). These debts appear as an expense on the company's income statement, thus reducing net income and most companies make a bad debt allowance since it is unlikely that all of their debtors will pay them in full. ⢠What if you came up with a way to ensure that all your debtors do pay their debts? ⢠What if there were some creative ways in which you can ensure that you collect bad debts and save your money as well as the debtor? More often than not a debtors does wish to pay back their debt but may lack the funds to do so. Chasing anyone through the legal system...
3 Ways To Finance Your Business Without Credit Cards
If you're in a cash crunch and need to find some financing for your company here are three ways you may have overlooked. 1. Vendor Financing Stretching out trade payables from, say 30 days to 60 days, is a pretty common method for companies to improve their cash flow. Usually vendors are not very happy when this happens, and some even voice their disapproval in no uncertain terms. Most businesses are small businesses and stretching out payables only hurts everyone in the long run. Think about it: if you are depending on one of your customers to pay you within 30 days, and that customer doesn't pay for 90 days, it can significantly affect your cash flow. If it's one of your major customers, the...
Your Small Business Can Survive This Economic Downturn
How quickly things change...one minute we're talking about managing growth in the face of a tight labour market and the next we're in the war room devising strategies for surviving an economic collapse that threatens our very livelihoods. Believe me when I write that the irony isn't lost on us. The suddenness of this about-face in fortunes would be funny or at least ironic if it wasn't so real! So after the "shock and awe" of it all had subsided, what are some of the strategies you can use to not only survive, but continue to thrive and grow during tough economic times? Communicate Small business tend to operate like extended families and as a consequence benefit from little separation between...
10 Ways to Reward Employees
In times of a bad economy, when raises aren't as high as employees would like, and job growth opportunities might be temporarily "frozen", having a strong, effective recognition program in place can go a long way toward "tiding over" your most valuable employees. If you don't yet own the book 1001 Ways to Reward Employees, get it now (you can get it used on Amazon for around 3 bucks). This book gives several examples (1001, to be exact) of potential rewards you could implement, and a large portion of those examples are actually rewards that cost nothing, or very little. In addition to those, I thought I would share some of the rewards that have worked very effectively for me in the past. Some of...