Digital barter community continues to champion small businesses by providing lines of credit, creating connections with others in network
Bellevue, Wash. — May 5, 2021 — Nearly 20 years after its launch, BizX, a digital community of more than 7,000 businesses that trade what they have to get what they need, continues to champion small businesses, helping them preserve cash flow, grow, rebound from crises and connect with other businesses through its barter exchange network and eye catching member perks.
Small businesses are not just the foundation of BizX’s community but also the heartbeat of local economies throughout the U.S.: Small businesses represent 99.9% of all businesses in the U.S., with 90% making up the BizX community. More than 1.5 million jobs are created annually by small businesses, and with Millennials and and Gen Zers 188% more likely to create a “side business” than the previous generation, more and more jobs are likely to be created thanks to small businesses.
“Companies like Starbucks and Nike weren’t always corporate behemoths; they started out as small businesses that faced the same challenges and opportunities that every other small business faces," Bob Bagga, CEO and Founder of BizX, said. “We want to take this week to really honor the commitment and passion that drives so many small business owners, and we’re not going to stop when Small Business Week is over. They keep our country and its people moving forward, and BizX is going to be there for them in every way that we can.”
During Small Business Week and every other week, the BizX community understands the power of collective, the volume of the crowd, and the opportunities in a thriving, sharing Economy. They are made up by a diverse collection small businesses throughout the U.S., from restaurants and wineries to hotels and printers. In addition to improving their cash flow, BizX also provides members with access to a line of credit along with unique resources including webinars, community connections and sales support in various forms.
A few examples of how BizX has helped small businesses return to normalcy in recent months:
• Lifetime Heating launched a new electric division, with BizX playing a crucial promotional role as the business spent upwards of $30,000 on media; BizX also helped refer more than $50,000 in new electric business – all in Q1 of 2021.
• When Fikes PPE decided to expand their business in the last year, they traded for $30,000 of racking for their new facility in turn strenghening their supply chain to reach more customers.
• Using a general contractor and additional subtractors found through BizX, Ministro Management Group is in the process of opening up a new restaurant, The Redd Dog, that will be the first “you-pour-it” pub in the Tacoma area.
“BizX was built by small businesses, and since our launch there have been countless small businesses built with the help of BizX,” said Bagga. “Whether providing invaluable lines of credit or connecting them with other small businesses who have a specific need, the whole BizX team is proud of the work we’ve done for the businesses that provide a backbone to our communities. We look forward to helping even more as our community continues to grow.”