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Barter Company BizXchange (BizX) Recognized as an Inc. 5000 Fastest-Growing Private Company in the United States for 2009
Economic downturn driving more businesses to use barter.
Seattle, WA - August 17, 2009 - BizXchange, a barter exchange that operates in the United States and internationally with offices in Seattle, San Francisco and Dubai, has been honored for the third year in a row as one of the Inc. 5000, a list of the fastest-growing private companies in the United States.
As the economy has weakened, BizX has experienced increased demand for its services, and in 2008, BizX conducted nearly $50 million in barter transactions. From 2007 to 2008, the company experienced a 40 percent rise in new members and a 55 percent increase in trade volume. The company projects an astounding 80 percent growth in trade volume for 2009.
"The tough economic times have challenged companies to find creative ways to increase cash flow," said Bob Bagga, CEO of BizXchange. "We are finding more and more companies turning to barter as a means to increase cash flow and increase their bottom line. We are honored that our commitment to provide customers with business solutions has helped us again receive this recognition."
The Inc. 5000, an extension of Inc. magazine's annual Inc. 500 list, is a comprehensive listing of the fastest growing companies in America that range across industries from construction and manufacturing to IT services and business services. Taken as a whole, these companies represent the backbone of the U.S. economy. The 2009 Inc. 5000 list measures revenue growth from 2005 through 2008.
BizXchange's future plans include increasing the company's presence in current markets and opening new offices in key domestic and international markets.
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