Barter Exchange In Toronto: A New Way To Save Money

Barter Exchange in Toronto: A New Way to Save Money

by

Creative

Used since ancient times, even before the concept of money, the concept of barter has been the exchange of products or services by one individual to another without any payment. The idea of bartering had been going on for thousands of years till the 1500 BC when the Phoenicians first invented money as we know it today, physical currency with paper and metal.

The Ancient Concept Of Barter Is Back!

With the concept of money for financial transactions, the concept of barter declined in its prominence and was relegated to a very few places on Earth. However, there has been a resurgence of bartering of late with the establishment of businesses known as a barter exchange, with one of the top exchanges located in Toronto, ITEX. In the public eye there are some misconceptions about the concept of bartering, with people thinking it is only for companies, the very rich or for traders. This thinking is totally wrong as can be evidenced by the many common people as well as professionals who take part in the bartering service. To give an example of a trade exchange, a doctor may ask an electrician to do some electrical installation at his home or clinic and in exchange for his services they pay him with barter credit. The electrician then takes his barter credit and redeems it for other goods and services within the exchange; printing, advertising, promotional items, health care services, vacations, equipment and more. The exchange itself operates in the form of a brokerage, assisting members to transact barter transactions with other members.

How Barter Can Help Your Business

Contrary to popular perception, bartering is not illegal with many small-to-medium businesses to big corporations now subscribing to barter services. However, even though availing of barter exchange is not illegal by law in Canada, you do need to report that to the concerned tax authorities. There are now companies promoting barter in Toronto, simply by registering with them with what you have to barter and they will hopefully find another member who is in need of the same item or service. A barter exchange can help businesses move unsold inventory still in stock at retail rates, without having to give huge uneconomical discounts. Also, businesses maximize capacity in their business or fill up downtime.

The Future of Barter Exchanges Is Looking Good

Using a barter exchange in Toronto means savings for many organizations to the tune of thousands of dollars on redeeming barter credits for different products and services. By registering with a barter company you can avail your business of their other registered members which could help you move your products or services to a whole new market. Making use of this new customer bank would increase your sales and profits by moving items that are not moving as fast as you want to. Working with a Barter exchange is gaining popularity in many places around the world, and with big players in the game, it is becoming more and more sophisticated, and is expected to become a well-established way of doing business, an essential tool for businesses of all types.

This article is about the

barter system

in Toronto and provides a brief about the barter exchange top companies in Canada to increase

barter network

for successful business.

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