Do you have any regular cash clients who have fallen on hard times and are struggling to pay you?
Rather than pursuing the debt and having the relationship turn sour, you may be able to use this trading tip, for a win/win result. The idea is to offer them an incentive to pay you now.
Here's an example of how it could work:
Lets say a printer is owed £10,000 cash from a jeweller and the invoice has been outstanding for 12 months. The printer could offer the jeweller an incentive, by saying they will accept half of the debt in cash and the other half in product or gift vouchers.
This incentive could have a limited timeframe in order to motivate the jeweller to resolve the debt. The product or gift vouchers would then be sold through Bartercard for Trade pounds and the printer would use the Trade pounds in their business.
If there is hardly any hope of them paying some cash, then the printer might accept the whole debt in product or gift vouchers or, even ask the jeweller to join Bartercard in order to pay the debt directly in Trade Pounds.
Bartercard is committed to helping Small to Medium Sized Enterprises (SMEs) grow and achieve financial success by facilitating a trade exchange network that offers dynamic and effective ways of conducting business.
Wednesday 15 December 2010
Tuesday 7 December 2010
Use Bartercard to Improve your lifestyle
Why are you in business? Hopefully it is with the view to ultimately improve your lifestyle!
If Bartercard can help you to earn extra income which you can use partly for lifestyle purchases, then Bartercard is effectively helping you achieve the primary goal of improving your way of life.
Bartercard members are able to spend some of the Bartercard Trade pounds they receive from gaining extra business on either themselves or their family. Some business owners choose to use their Trade pounds, along with their interest free line of credit, to pay for a much needed holiday or weekend away. They may pay for other lifestyle expenses, such as dining out, clothing, entertainment, hobby equipment, gym memberships, massages, soft furnishings for their homes etc; all of which your business is supposed to be providing you with – a better lifestyle.
Strategies
1. Ascertain, with the assistance of your Accountant, a budget to spend on lifestyle expenses.
2. Peruse the Bartercard Auction site, eMarketplace and International Online Directory for lifestyle products or services.
3. Ask your Trade Co-ordinator (Account Manager), or the Tourism and Hospitality Support personnel at Bartercard’s Head Office to advise you of any travel specials.
If Bartercard can help you to earn extra income which you can use partly for lifestyle purchases, then Bartercard is effectively helping you achieve the primary goal of improving your way of life.
Bartercard members are able to spend some of the Bartercard Trade pounds they receive from gaining extra business on either themselves or their family. Some business owners choose to use their Trade pounds, along with their interest free line of credit, to pay for a much needed holiday or weekend away. They may pay for other lifestyle expenses, such as dining out, clothing, entertainment, hobby equipment, gym memberships, massages, soft furnishings for their homes etc; all of which your business is supposed to be providing you with – a better lifestyle.
Strategies
1. Ascertain, with the assistance of your Accountant, a budget to spend on lifestyle expenses.
2. Peruse the Bartercard Auction site, eMarketplace and International Online Directory for lifestyle products or services.
3. Ask your Trade Co-ordinator (Account Manager), or the Tourism and Hospitality Support personnel at Bartercard’s Head Office to advise you of any travel specials.
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