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Frequently Asked Questions

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  • General FAQ
  • Buying
  • Selling
  • Account & Taxes
Who is BizX?

BizX is a community of thousands of business owners who are able to buy and sell amongst each other without spending cash. Instead, they use their very own community currency, BizX dollars. The benefits are simple: they each earn new customers that they wouldn’t have had, and get to buy things they need without spending their hard-earned cash.

What is a BizX dollar?

A BizX dollar’s value is equal to the US dollar and is used to record the value of every transaction. Transactions are posted to member accounts as credits (sales) and debits (purchases), and are recorded pursuant to the Trading Procedures, Policies, Rules and Regulations of BizX and IRS regulations

How is BizX saving me cash?

When you purchase goods & services with your BizX dollars, you save cash. So a $10,000 expense that – instead of writing a check – you are able to pay for with BizX dollars that you earned from new customers, means $10,000 cash stays in your bank account.

What are the benefits of using BizX for my business?

By joining BizX, you are agreeing to accept an additional form of currency for payment. BizX will market your business to thousands of other members, delivering you new customers to purchase your products or services, who pay you in BizX dollars.

You are then able to redeem this new BizX revenue with any other member in the network for goods & services you need. The impact to your business is new customers & improved cash flow when you regularly buy and sell with BizX.

And critically, when you spend BizX dollars, you purchase goods & services at your own cost of goods.

What type of businesses are in BizX?

There are over 6,700 businesses participating in BizX currently, generally focused in our primary markets: Seattle, the Bay Area, San Diego & Dubai. There are over 120 industries represented in BizX, from media companies to restaurants, printers to hotels, cruise lines to construction companies, and everything in between.

Our members come in all shapes & sizes, from Fortune 500 companies to pro-sports teams, regional leaders to local companies & start-ups. The thing that BizX members tend to have in common is that they provide high quality results and are thriving in their space. Our membership is truly what makes BizX great. If you have a great product or service, are ambitious, scrappy, and want to grow – this is the community for you.

Will BizX work for me and my business?

BizX will improve your business if:

  • You are a successful company with positive cash flow & demonstrated customer demand
  • You have available capacity – i.e. you can service new customers
  • You are ambitious and want to continue to grow your company
  • You are entrepreneurial & willing to try new things to achieve your objectives
By joining BizX, what are my commitments?

You are in complete control of the amount of business you accept & where/when you spend your BizX dollars – and if you aren’t transacting, BizX is free to be a part of. If you do wish to leave the network, for any reason, just let us know you would like to close your account (email help@bizx.com) and we will do so. As a general rule, we ask for 30 day notice of account closure so we can let your BizX customers know that you are no longer accepting BizX.

How do you transact in BizX?

In BizX transactions, the purchasing member’s account is debited, the selling member’s account is credited, and the full transaction details are recorded by BizX and represented in both members’ account statements.

There are many ways to buy & sell via BizX; on the marketplace, in-location, via the BizX mobile app, or on the BizX Point of Sale web-based terminal, just to name a few.

When members sell via BizX, they accumulate BizX dollars which are banked in their private account. Members are able to purchase goods & services from any other member, and when they do so, they spend this balance – getting things they need without spending valuable cash.

The innovation in this approach is that no two members have to have what each other need to make a deal – you do not have to purchase from a member that purchases from you. You can spend your BizX with any member, at any time – and these dollars never expire, so you can sell now, and buy with confidence later on.

This feels daunting & complex. Is there a steep learning curve?

We understand that for many business owners, this is a new concept and that it can take some time to get the mind around it. Here’s the good news – there are numerous videos & blogs at your finger tips to learn how to get started, and our team is dedicated to simplifying & educating new members. Typically, a 30-minute call with one of our Account Managers is all that a new member needs to identify their capacity, inventory they want to sell, where they will spend their BizX, and determine quantifiable goals.

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