From Wikipedia: Bartering is a medium in which goods or services are directly exchanged for other goods and/or services, without the use of money.
In this day and age, one would think that this method of doing business is obsolete. However, with the world economy in such horrible shape and a lot of mega corporations falling under, it is no surprise that the small and medium companies (SME) are getting even worse hit. But instead of laying down and dying like other companies, they got creative. They’ve turned back to bartering for products and services.
This movement, according to BBC, may or may not have started in Singapore but it is for certain that a lot of companies around the world are following suit and they’re all doing quite remarkably well. Some of the benefits are savings on costs, of course. It also increases the company’s stature and reputation. It makes things a little better for them in coping with the downturn.
They do their trades online through the barterxchange website and they have their own universal currency. It’s definitely not the US Dollar, mind you. To date, it is reported that there are close to half a million companies doing this around the globe.
These companies have remembered that the Chinese word for crisis is composed of two elements: danger and opportunity. The world financial situation is the danger. Barter is the opportunity.
What are you doing with your business today?

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