Everything old is new again. As business bottoms out as a result of COVID-10, the oldest form of trade—barter—is booming. However, this is not your father’s direct trade barter model. And that makes it even more appealing to cash-strapped businesses now.
Just ask John Strabley, CEO of IMS Barter (International Monetary System) in New Berlin, Wisconsin. Formed in 1985, IMS has been providing an alternative method of payment that conserves cash, attracts new customers and gives businesses a competitive advantage.
“Since the abrupt economic shutdown in March,” says Strabley, “Our marketplace has hit record online purchasing volume. Our website, IMSBarter.com, has seen a tremendous increase in traffic.”
The economic impact of COVID-19 and related stay-at-home orders has reached nearly unbelievable proportions. As of April 10, 31 percent of Americans were furloughed or had lost their job because of virus-related events, according to a survey by Freedom Debt Relief.
But many businesses are hoping they can hang on to their employees until they can secure Paycheck Protection Program (PPP) funds to temporarily cover payroll costs or the economy reopens to begin the long process of recovery.
To business owners looking for every possible place to cut costs and preserve cash before initiating layoffs, there are several budget adjustments to consider.
You don’t always have to pay cash. Learn how your small business can trade one product or service for another. If a client (or you) can’t pay with traditional means, it doesn’t mean anyone needs to call small claims court. Instead, what about bartering? You may be imagining old-time scenarios of doctors accepting a bushel of farm goods in exchange for medical treatment, but bartering is alive and well in the modern age.
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IMS Founder Don Mardak is interviewed on Bloomberg TV's Venture program by Cris Valerio.
Bartering in goods and services is making a comeback during the economic downturn.
See how IMS Barter can be a great way to pay for healthcare.
During this down economic time, more businesses are turning to IMS barter to conserve the cash they have.
More businesses are turning to IMS barter first when they are short on cash.
Business are using IMS Barter to purchase Christmas gifts.
IMS Barter helps businesses barter their excess inventory.
IMS Barter moves businesses with excess inventory and unused services.
At IMS Barter you can earn trade dollars and have the option of spending it on not just one but 16,000 barter businesses.
In this economic downturn, IMS Barter has helped businesses save cash by using trade.
IMS Barter allows businesses to sell their goods and services for trade dollars.
A local company, a member of IMS Barter, bartered with companies that are willing to accept his services in place of cash.
IMS Barter can help restaurants fill empty tables and turn them into extra revenue.
A local college uses IMS Barter to fill in their empty seats in its classrooms.
IMS Barter helps a local hotel owner fill empty rooms and provides maintenance to his hotels.
The IMS Barter network allows optomotrists to trade eyecare for products or services in the same network.
IL business get the benefits of IMS barter as the industry booms.
A restaurant turns to IMS Barter to created more traffic and fill tables.
The economy forces business to look to other alternatives for revenue and spending, IMS Barter.
See how IMS Barter can get your business new customers and increase revenue with spending cash.
Brides turn to IMS Barter as they face tight budgets.
See how businesses owners use IMS barter to ride out the tough economy.
Before you use cash, barter first with IMS Barter.
When businesses are cash poor, they turn to IMS barter for goods and services.
Local restaurant prospers in the recession by using IMS Barter to buy goods and services for their business.
With the credit crunch consequence, more business are bartering through IMS Barter.
Businesses use IMS Barter to survive the rough economy.
IMS Barter brings business more customers as well as cash referral.
Antique dealer in West Haven, CT credits IMS Barter in saving his business.
See how IMS Barter can help your plumbing business conserve cash and increase sales.
Thousands of IMS Barter members barter at the Annual WI Holiday Expo.
IMS Barter gives businesses the opportunity to trade their goods and services with other members in the IMS network.
Local plastic surgeons are members of IMS Barter to help them bring in new patients and sales.
See how IMS Barter can benefit your practice.
10% of local company annual revenue come from selling their services with the IMS Barter network.
IMS creates purchasing power for it's members.
Using IMS Barter to trade goods and services is more flexible than direct trading.
IMS Barter members' businesses grow during this tough economic time.
Businesses are discovering that joining IMS Barter can help move excess inventory or unused services and get new sales.
Businesses can trade what they have for what they need in the IMS Barter network.
See how IMS Barter can be a successful cost-saving option.
Businesses can trade their merchandise through IMS Barter for full price instead of liquidating it for a reduced profit.
"I have been an IMS member since 2007. Since then, I have used my trade to gain buying power and grow my business. Throughout the years IMS has provided; advertising, window cleaning, shipping, computer related goods/services, restaurant supplies/equipment, employee incentive programs, Brewer Tickets, and much, much, more. My experience with IMS has been positive and I recommend it to any businesses looking to grow and prosper. "