Clients always wonder how they can turn Barter Credits back to into cash. Did you know there’s not just one, or two, but five ways you can do that? How cool is that?! Here they are:
1) Advertise your business using Barter Credits and drive more Canadian dollar business through your door.
2) Find expenditures you have to make in the business that you can use Barter Credits for. (e.g. renovations, printing)
But if you need actual cash from your Barter Credits….
3) You can use the services of a Realtor or mortgage broker through BarterPay. Whatever they make in profit from the bank or from the seller of the home, they will use to buy Barter Credits back from you at 1:1 ratio.
4) Buy something for a friend, family member, colleague, parent, child, etc… Have them pay you back in cash. Example: your son had a flood in his basement and wants new carpet. Barter for it instead! He (or SGI) can reimburse you in cash later.
5) Buy items to cash out. If you see an item that you think you could sell to the cash world (watch, speakers, phone, etc…), you can buy it with Barter Credits and re-sell. Any loss in value would be tax deductible. And, as long as you are getting enough money to cover all of your hard costs, it’s way better than saying NO to new business if you have the capacity to take it on!
And the bottom line is BARTER IS GREAT THAN ZERO! We can all agree that getting value for an item you have or services you offer is way better than getting nothing! If you have any inventory that has been sitting for a while, it’s better to take Barter Credits than to have it sitting there providing no value at all. If you are a service business, we all know that once a time slot expires, you can’t get it back. It’s gone forever. So if you have any downtime at all, it makes sense to plug some new customers into your calendar here and there and then you have Barter Credits that never expire!