Frequently Asked Questions

BizX dollars are redeemable with any other member of the community – today, this represents over 6,700 businesses, in a wide array of categories, up and down the West Coast & around the world.

Some of the most common spending areas include:

• Advertising, marketing, web development, and promotions
• Dining out
• Travel & entertainment
• General business expenses, such as office furniture, phone systems, bookkeeping services, security systems, and janitorial services
• Auto repair, painting, plumbing, home cleaning & maintenance
• Event expenses
• Medical & dental
• Employee benefits & bonuses
• Gift cards

Yes. Many business owners in BizX use this incremental revenue to enhance their lifestyle as well as build their business. As a business owner, you can pay yourself BizX dollars as part of your salary, leaving equal value in cash in your business. So that next family vacation can be enjoyed cash free.

You also have the opportunity to bonus your employees in BizX dollars via Perks by BizX. In this program, your team has child accounts that are fed, at your discretion, by your parent account. BizX members participating in Perks often use this program to drive sales contests, distribute annual bonuses, or other performance-based rewards – effectively utilizing spare capacity to improve employee morale.

Once granted a BizX Line of Credit, you have a powerful tool to meet your ongoing business needs while conserving vital cash flow. For example, you may need to complete a $10,000 print job to execute your new marketing campaign. Though you might not have accrued $10,000 yet, you could utilize your BizX Line of Credit to purchase printing services from a printer in the network – saving your cash. Your account balance goes to -$10,000, which you earn back as we deliver you new customers from the network.

You have the freedom to sell almost anything you choose via the BizX platform. Primarily, you will be selling your business products & services. Beyond this, you have the ability to list anything of value from your business or home on the BizX classified marketplace. BizX dollars become a valuable asset in your business & life – incrementally earned & widely usable.

Yes – you are in complete control of how much business you accept, what you wish to sell through BizX, and when. On average, BizX members earn 5% of their gross sales via BizX – and off-set the same in cash expenses. We understand that there are times when you are operating closer to full capacity than others. BizX is here to deliver you new customers when you want them, and your bank of BizX dollars is your secret weapon to keep more cash in your business.

Buying & selling in the network is for 100% BizX dollars.

On a case-by-case basis, and with approval of an authorized BizX representative, part cash / part BizX dollars selling is permitted. Circumstances that would warrant a blended selling price are generally large transactions with high materials cost, i.e. large construction jobs.

Yes – BizX is safe and legal. In 1982, Congress passed the Tax Equity Fiscal Responsibility Act (TERFA), which stipulates that all barter revenue earned is to be treated as income in a taxable year. The IRS sees BizX as a Third-Party Record Keeper. Every year, we report all transaction data to the IRS, and issue 1099-B forms to our members to do their own reporting. Revenue is revenue, expenses are expenses.

There are many advantages to using BizX, but tax avoidance is not one of them. There are no tax advantages or disadvantages to BizX.

Sales tax is paid by the purchaser in BizX dollars. The seller remits to the state in US dollars, but when they go to spend their BizX dollars, they pay sales tax in BizX as the buyer. Because of this, mathematically, sales tax via BizX is a wash.

All members may apply for a BizX Line of Credit. Reach out to your Account Manager or help@bizx.com to obtain an application form. We issue lines of credit from $500 to $500,000. The amount of credit extended is decided between BizX & the member, and takes into account several factors, focusing on the likely ability of that member to generate sales based on their geography, industry, and sales. There is no credit check or inquiry & the process is fast and free. As a general rule, BizX will extend 50% of a member’s target annual sales volume (a company that can do $50,000 in annual sales qualifies for a $25,000 line of credit).

BizX is free to join & to be a part of. We earn our revenue by charging fee’s when our members transact with one another on the platform. The two sides of a BizX transaction represent distinct benefits to each participating member: one receives a new customer that they wouldn’t have had otherwise, and the other receives a good/service without spending cash. When we deliver these benefits, we earn a cash fee on both sides of the transaction. Our members accounts are set up as “auto-pay” and transaction fees are billed monthly. Members transact because they find value in BizX, so we built our revenue model around delivering that value every day.