Why should I barter? How will my company and myself benefit from participating in the Business Network Inc. network?
Barter makes business sense. While each company has unique business requirements, history has demonstrated virtually every business can benefit in some way from barter.
• Increase your purchasing power.
• Increase your client base, obtain clients you would not otherwise have.
• Conserve cash and improve your cash flow while offsetting cash expenditures.
• Increase your bottom line.
• Less discounting-sell retail to move your excess inventory.
• Create an instant nationwide presence.
What makes Business Network Inc. different?
Business Network Inc . is going back to basics. We strive to achieve customer service excellence. Business Network Inc is “where business happens”.
• We act as an extension of your business: consider us your business partner.
• We are constantly targeting those hard to get items, which you all have requested.
• List your needs on our website for all members to see for easy fulfillment.
• We offer unmatched Customer Service. Unparallel to any other.
• Use either our on-line/off-line trading systems. It's your choice.
• We are quality driven.
• We offer no hassle funding for your business. Where else can you get a business loan that can be paid back with your product and/or service, at your own pace and with no interest?
Can I promote my normal cash business through working on barter?
Absolutely. Let the work you have preformed on trade pay for advertising, marketing services, business promotions and so much more. Take customers to dinner on barter, use barter to cover the cost of corporate functions and gifts, the opportunities are endless. Trade for numerous other products and services while introducing your company to dozens of prospective clients.
And don't forget that a barter exchange can be great for networking. Through barter you'll make new business contacts and open the possibilities for referrals and prospective new cash customers.
How much does it cost to participate in Business Network Inc.?
There is a one-time membership investment to establish your business account. Transaction and modest monthly fees cover the accounting, marketing, promotions and member services.
What type of companies are involved in barter?
Globally, over 470,000 businesses are involved in Barter. It is estimated that 65% of Fortune 500 companies engage in barter to one extent or another. All size businesses participate.
I have never participated in an organized barter network, how will I learn to do this?
Our network was designed with all types of clients in mind, including the novice and the advanced. Additionally, our experienced staff of brokers will help walk you through the process. You will also be assigned a personal broker for your company, to aide in all trading. Consider your trade broker an extension of your business.
My business sales are in small dollar amounts. Is there a quicker way for me to process an authorization in order to save time?
YES! We have implemented certain policies and procedures for clients that are in similar situations. Business Network Inc. has designed what we call “punch cards”. The punch cards are available in denominations of $50.00, and $100.00. Each of the cards has increments listed in $1, $2 and $3 for a combined total of either $50.00 or $100.00. Any member of our exchange can purchase these cards and utilize them each time they visit your establishment. You would simply “punch” out the amount used for that visit and the remaining balance stays on the card until it is used in full. You receive immediate credit in full credit for these at the time the buyers order them from their broker. Some businesses prefer the use of their own gift certificates. This is also no problem: we would buy them from you and take the full responsibility of mailing them to our clients and tracking them for you as well. Again you would receive immediate credit when Business Network Inc. buys them, prior to them being redeemed by the buyer.
How can I conduct barter outside of my usual territory?
Trade exchanges participate in worldwide reciprocal trade relationships with other exchanges offering a multitude of additional barter opportunities. We fulfill our members' travel requests via our vast Global network. We also help businesses looking to open new markets by using the distribution channels available nationwide. In turn, we receive products from across the Nation that are then in return made available to our local membership.
The National Association of Trade Exchanges (NATE)
The BANC (Nationwide Clearing House for Trade Exchanges)
These two associations represent over 100,000 businesses and an estimated 1 billion dollars in trade. They offer members annual conventions and an unlimited resource of contacts for additional products and services, as well as an ethics review process, and they keep members informed of governmental actions and policies that have impact on our industry. Most importantly, they give barter exchanges the opportunity to market their members' products to barter companies across the Nation.
Who do I contact if I have a question?
Members can call our main office at 631-361-6000 or by email at info@businessnetworkinc.com. Our staff is constantly available to answer any questions you might have.
Are my sales considered income ?
Yes. Sales made via Business Network Inc. are subject to the same tax treatment as cash sales. Your purchases should also be treated with the same due diligence. Business Network Inc. recommends that you contact a qualified tax consultant for further advice. Business Network Inc. also has qualified tax consultants within our network.
Are the fees I pay to Business Network Inc. a tax write off?
The Business Network Inc. fees are similar to other expenses incurred in a normal business operation and should be treated the same way. Business Network Inc. recommends that you contact a qualified tax consultant for specific advice. Another service we can help you with.
Will being a member of Business Network Inc. create added paperwork or red flags with the IRS?
Absolutely not. Business Network Inc. will do all the paperwork, providing you with up-to-date monthly statements for your reference, tracking of all your sales and purchases. You can also retrieve these whenever you want online.
Barter income is reportable to the IRS exactly like cash income. The IRS classifies barter companies as third party record keepers. Therefore, Business Network Inc. has the same reporting requirements as banks and stock exchanges. Each year, clients receive a form 1099b that reports their Business Network Inc. sales for each calendar year. A copy of the client's 1099b is also sent to the IRS, as required by law.
Why do companies barter?
Nearly every business faces the daily dilemma of perishable inventory – newspapers pages without advertising, airline seats that fly empty, hotels with vacant rooms, production facilities that run below capacity. In a business-to-business barter exchange such as Business Network Inc., companies can offer their perishable inventory at fair market value to thousands of potential businesses without having to reduce the selling price to below cost. Maximize your dollar. These sales use a non-cash currency which participating companies can use to buy anything listed within the exchange. In this way, a barter exchange delivers three key benefits to businesses: Sales at fair market value, the ability to acquire valuable products and services while conserving cash, and access to new customers.
E-MAIL: sales@businessnetworkinc.com