Jon Wells, Spectator Reporter, April 4, 2020 – Bartering is the oldest form of commerce, but the time has never seemed more ripe for it with businesses paralyzed by COVID-19.
No one is more aware of the situation than John Porter, whose career as a barter commerce entrepreneur goes back 24 years, and whose Stoney Creek company, BarterPay, started two years ago.
The pandemic is so devastating, with business inventories and cash flow at a standstill, that Porter wondered if he should even press ahead promoting his brand. “In the last few weeks I consulted mentors and they told me not to hold back,” he said. “This is my time to help a ton of people.”
BarterPay offers a platform for businesses to exchange goods and services — trading their “spare capacity” — without cash changing hands.
In a normal economy, businesses carry surplus product and service capacity, but the pandemic shutdown has exacerbated the situation to an unprecedented degree.