Incorporate Bartercard into your payroll

Bartercard Trade Pounds may become an integral part of a business’s payroll. A business owner is able to take dividends or some drawings from the business in Trade Pounds or they may pay their staff a combined income of cash and Trade Pounds.

Bartercard members may implement three strategies to incorporate Bartercard Trade Pounds into their payroll. These include:

1. Setting up a staff account that is linked to their main Bartercard account (Parent/ Primary). The Bartercard member is thereafter able to pay Trade Pound dividends, bonuses or part of an employee’s wage into this account.
2. Provide their employees with Bartercard gift certificates, which they are free to spend at any Bartercard business.
3. Periodically purchase a particular product or service on behalf of an employee, and thereafter deduct the expense from their employee’s wages over an agreed period of tim

Examples of members incorporating Trade Pounds into their payroll.

Case Study 1
A Bartercard advertising agency pays their staff a Bartercard Trade Pound commission.
Aim/Objective:An advertising agency wanted to devise a way in which to motivate their staff to increase their sales.
Method/third party story:The advertising agency owner requested to open five Bartercard staff accounts. He advised all his staff of a new ongoing sales promotion he had devised whereby, if they increased their sales over and above the set weekly levels (for which they currently received a cash commission), they would be rewarded with double the commission per additional sale, paid for with Bartercard Trade Pounds into individual Bartercard staff accounts.

Outcome/Conclusion:Once the staffs were aware of the various spending areas available to them in Bartercard (as advised by the Trade Co-ordinator and the advertising agency owner) the number of sales increased by 20% across all staff.

Case Study 2
A hotel owner rewards long serving staff members
Aim/Objective:To reward long serving staff and maintain a staff retention program.
Method/third party story:
A hotel owner held a staff meeting where he formally recognised and praised his long serving staff members. He advised them he was so impressed with their good work and effort over the years, as a reward he wished to offer financial assistance with purchasing goods or services they couldn’t ordinarily afford. The hotel owner offered to pay for the goods and services on behalf of the employee. The hotel owner asked the employees to consider, over a period of a week, if there were any requests that the hotel could assist with and if so, to advise his financial controller.

Outcome/Conclusion
One of the housekeepers approached the financial controller and asked if it would be possible for the hotel to hire a juke box for her daughter’s 21st birthday party. This was swiftly sourced on Bartercard. The housekeeper was thrilled, as she had never thought to ask her employer for assistance in this manner. The hotel owner was happy, as he was able to assist one of his long serving staff members

Use Bartercard to: Pay your creditors !

During these tough economic times, some Bartercard business owners may not have a
substantial cashflow to support paying some of their creditors. By being a Bartercard member,
you have the option to use your Bartercard Trade pounds or products or services as a means to
pay all or part of your cash debt quicker.

Strategies
If a creditor is keen to receive payment, they may accept part or all of the outstanding payment in the following ways:

1. By accepting Bartercard Trade pounds from the debtor (Bartercard member).
Depending on the amount outstanding, a temporary Bartercard account may be set up
for the creditor or gift certificates may be issued that the creditor can spend at any
business that accepts Bartercard.
 2. By accepting products or services from the debtor (Bartercard member) that the
creditor can use or on-sell in the cash economy. As a Bartercard member (debtor) you
are not limited to your own product, you also have the option to select from the variety of
products or services in the Bartercard network. These products could be sourced using
the Bartercard Auction site, eMARKETplace, Online Directory or by contacting your local
Bartercard office to satisfy the creditor’s requirements.
 3. By having the debtor (Bartercard member) pay the creditor’s business expenses (the
Bartercard member may simply pay a Bartercard supplier in Trade pounds, on behalf of
the creditor).

N.B. As a result of implementing one of the above strategies, the creditor receives their outstanding payment and the Bartercard member is able to pay their outstanding cash debt with Bartercard Trade pounds, thereby retaining valuable cash in their business.

Using Bartercard to gain new cash customers

Utilise Bartercard Trade Exchange to give your business an edge over your cash competitors

Wouldn't it be great if you could use Bartercard to gain new cash customers?

The best way to describe this Business Tip is through a real example from one of our members

• A Bartercard member was quoting a contract to get their products into a major retail chain – 30+ stores.
• They were quoting against other competitors a bidding for the same business.
• They didn't want to discount their product to win the contract, so instead they thought outside the box.
• When submitting their quote they offered to take the first year, of a 3 year contract in gift vouchers from the retail chain.
• They secured this contract because the retailer realised they were getting a discount equal to their gross profit margin, by paying with their product.
• The Bartercard member then sold the gift vouchers through Bartercard and used the Trade pounds to reduce their cash expenses.
• And the 2nd and 3rd years of the contract were paid in cash.

The Bartercard member utilised the Trade Exchange to give their business an edge over a cash competitor.