COMPANY DETAILS
Company: Bartercard
Based: Richmond, Surrey and worldwide
Website: www.bartercard.com
Users: UK – 4,000; worldwide – 75,000

Who are you?
Wayne Sharpe, managing director of Bartercard, which was founded in 1991 in Australia and provides businesses with a secure way to barter trade and services.

What do you do?
We’re a business-to-business trade exchange that enables businesses to do barter transactions, and therefore conserve their cash. One business can make a purchase from another by using barter trade pounds. However, the seller doesn’t have to want the buyer’s products and services, as it gets a credit that it can use anywhere within the Bartercard network. We add flexibility and security to a normal barter transaction, because we act as a central clearing house.

What does this mean in practice?
Each member is given an account number, a transaction card, an interest-free line of credit and access to Bartercard’s business directory, with details of members’ worldwide trading opportunities. Members use their Bartercard transaction card to trade anything from stationery to property. It operates in a similar way to a credit or debit card, and members earn Bartercard trade pounds for the goods and services they sell. This value is then recorded electronically in the member’s account database.

What size company suits you?
It varies, but it is predominantly small to medium-sized companies. But we do have some large corporate organisations. Clients range from printers to lawyers, through to accountants and restaurants.

Why should I care?
Many businesses falter because of financial problems beyond their influence. Bartercard is about taking control and stabilising your company’s money, so that you are prepared for the unexpected. Our aim is to improve your financial stability, turnover and profitability.

What can you do for me that I can’t do myself?
We can help you pay for products and services by trading your services to other companies and, at the same time, increasing your sales by gaining new business within the network.
We can also help you to reduce your cash expenses, as Bartercard allows you to offset your cash expenses with trade, and overall increases profit.

What mistakes will you prevent me making?
Spending money you don’t have and missing out on opportunities to expand your business because of cashflow. Many of our customers wouldn’t have been able to afford goods and services if they hadn’t traded their services within the Bartercard network.

How else will you save me money?
There is potential for networking through Bartercard. We hold trade shows where some companies set up stands and sell their products and services, but they also allow you to exchange business ideas and help you develop into areas that you may not have been involved in before. This allows businesses to make new contacts, therefore meeting new customers or suppliers.

Give me an example of one business you’ve worked with this year
The founder of an anti-ageing beauty therapist centre also runs an anti-ageing convention once a year for doctors and surgeons from all over the world. The first year she ran it, she paid for the whole conference on Bartercard. She may not have been in the position to hold the conference if she hadn’t used Bartercard. She didn’t have the money to pay for it up front and events such as these nearly always need you to pre-book. She
repaid this by taking her services to other companies within the network.

Why should I trust you?
The Bartercard trade pound is recognised by HM Revenue & Customs and financial institutions as having the same value as the pound. We also send our consultants round to every company that wants to sign up with us in order to check their viability. Our customers trust us, so we give them reason to.

What will it cost me?
We charge you a fee every time you make a transaction, which is 5.5% on cash and 1% on trade pounds.