MALDEN, MASSACHUSETTS…
With the economy in its current state, you might think a summer vacation would be off the table for many small businesses. Thanks to bartering organizations like New England Trade, a summer getaway is still a viable option without laying out serious cash. In fact, trading products and services for vacation getaways, condo rentals and other travel-related services has become so popular, New England Trade has set up a special travel division to accommodate the demand.
“We have a large number of members in the travel industry–hotels, time shares, ski lodges, boat rentals, travel agents, etc. These members put up gift certificates to their establishments in exchange for the services they need to run their organizations, things like upkeep of their facility, IT and advertising. Conversely, many of our members are looking to use their barter dollars to get away. The new travel division helps pair the members from both sides of the equation,” said Ken Meharg, CEO of New England Trade.
The practice of bartering has been around since the days of the caveman (e.g. a plumber does some work for a CPA, who in turn does the plumber’s taxes). In a bartering organization, members have access to the products and services of all the members. So, the plumber can do work for the CPA on barter, but can then choose to “spend” the bartering dollars he’s accrued on another product or service offered by other members. Like use of an ocean-side condo for a week.
There is some exchange of cash involved with barter. A 7.5 percent transaction fee goes to the bartering organization and members are responsible for paying taxes on the “barter dollars they earn. Still, for the most part, a bartering organization makes a vacation possible for many small business owners without dramatically impacting their cash flow.
“In today’s economy, many people are cutting back on vacations. By trading gift certificates for stays at their establishments, our hospitality business members are filling rooms and booking reservations. That helps keeps your staff busy and provides an opportunity to create new business, which hopefully leads to return business and strong word-of-mouth referrals,” said Meharg.
For more information on New England Trade, please visit www.newenglandtrade.com.
Trading up in New England
since, 1980, New England Trade has helped thousands of businesses gain a competitive edge by expanding their revenue and reach with barter. Restaurants, auto services, travel, retail stores, and professional business services such as accounting, legal and advertising/marketing are a sampling of the numerous clients who do business with New England Trade and each other. Maintaining offices at 926 Eastern Avenue in Malden, Mass., as well as 100 West Main Street in Hyannis for its Cape Cod branch (www.CapeCodTrade.com), New England Trade has become the largest barter organization in New England. The company is a founding member of the National Association of Trade Exchanges and a member of the International Reciprocal Trade Association, New England Trade manages more than $5-million in sales annually and has a staff of 10 people. New England Trade is operated by experienced, Certified Trade Brokers who know how to make barter work for business. The company is a long-standing member of the Malden Chamber of Commerce.
For additional information about New England Trade, please visit http://www.NewEnglandTrade.com or call 781-388-9200.
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