News Release - December 04 2009
Smarter To Barter
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BRISTOL, Conn. (Ivanhoe Newswire) -- Every day we hear news that businesses are going under because they are strapped for cash. Bartering may be the way to keep your company afloat in these tough economic times.
Bartering has been around for centuries, but the recession has brought a resurgence.
''Cash is very tight so it's smarter to barter,'' Debbie Lombardi of Barter Business Unlimited in Bristol, Conn., told Ivanhoe.
Lombardi says the value in trade comes in what you can exchange.
''We were at a stalemate,'' Mary-Lee Wilcox of Dalice Elizabeth Winery in Preston, Conn., recalled. ''We didn't know what to do next because we had invested everything we had and we had no cash.''
Instead, Mary and John Wilcox traded gift baskets and wine tasting parties. Massage therapist Kathleen Sistare is interested in a wine party. For six people it would cost $540, but if she does six massages she can bank$590 barter points. The only cash she hands out is a 12 percent transaction fee to the bartering company, which totals $70.
''I've used all kinds of services,'' Sistare of Sistare Center for Wellness in Manchester, Conn., said.
Experts say if you barter on your own you can advertise on the Internet or in local newspapers. A written agreement is advised. And remember Uncle Sam expects his cut too, so you should report your bartering transactions. Most importantly make sure the other party is reputable.
''In many cases, they are coming into your home,'' Lombardi pointed out.
Lombardi also says whenever you can get cash for a service, go for that, but bartering is your next best thing. If you opt for a bartering company most will screen and pair clients. Plus you can bank points and use them at other places.
Debbie Lombardi
debbie@bbu.com
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