So what exactly is bartering with BizXchange?
Bartering with BizXchange is the exchange of goods and services without the use of cash. People have been doing it informally for thousands of years. Today, however, BizXchange has transformed bartering into a sophisticated business practice.
Are there tax advantages to BizXchange?
There are no advantages or disadvantages to BizXchange. BizX income is treated the same as cash income. It should be considered a marketing tool rather than a tax tool. BizXchange provides your company with a 1099-B at the end of the year for all sales you have transacted on our network. Cash purchases that are normally tax deductible as business expenses are also tax deductible as trade purchases.
How is bartering through BizXchange better than direct bartering?
BizXchange eliminates the restrictions of one-on-one bartering in which each business must want what the other has to offer at the exact same time. A BizXchange broker works with you directly to bring your company new sales and increased market share, and to minimize cash outlay for everyday business expenses.
How will my business benefit from using BizXchange?
BizXchange is an innovative tool that can help your business conserve cash, generate new business, and turn excess, idle inventory into the products and services it needs to grow. The barter industry accounts for one quarter of the world's volume of business every year and is growing at a rate of 15% per year.
What does it cost to get started?
There is a one-time membership investment to establish your business account. Transaction and modest monthly fees cover accounting, marketing, promotions, and member services.
What if I need to make a purchase before I have earned enough BizX dollars?
Similar to a bank, we encourage businesses to apply for a BizX line of credit. If you qualify you can begin purchasing immediately. You can also use your BizX line of credit to enhance expansion or a new business venture when traditional funding is not available.
How should I price my product or service?
Prices quoted to BizX clients are the same as prices quoted to cash-paying customers. BizX allows you to purchase products and services at your own cost of goods. Business owners are educated shoppers. BizXchange is simply another method of payment, just like cash or credit card.
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