News
Bartering is topic at East Side meeting Nov. 16
- Details
- By Sabina Hendrix-Williams
- Sunday, November 20, 2011
- Hits: 483
Karen Adams of Barter Now, G-4437 Richfield Rd., told the Eastside Business Association Nov. 16 how bartering can benefit a business. Adams owns and operates three businesses involved in the bartering process.
In a barter network, members don't trade directly with each other, but deal in "barter dollars." These barter dollars are credited to a member's account, then used to pay for goods or services.
Adams says that she is a broker of the Business Trade Exchange which has at least 300 traders nationally. Second Generation, Message and a Meal and Barter Now are companies that currently participate in the bartering process.
Bartering, the oldest form of doing business in the world, replaces the need to request bank loans and is used instead of working capital, says Adams.
Adams assures skeptics that their business can benefit from bartering by requesting the business makes a grocery list of services they use. She then identifies the barter potential from that list.
To join Barter Now go to barternow.org and follow the prompts. Membership is $195 annually, renewal is $150 and lifetime membership is $595. If a member chooses to opt out of their account they have the option to purchase goods and services until all of their trade dollars are spent. Barter Now gets a minimum commission of 10 percent when the member uses a credit or debit card and 12 percent when they use cash or check.
Flint Chamber of Commerce President Mike Killbreath said he helped bring some of the first bartering groups to Flint, one of which was Trade Local, 103 E. Main St., Flushing.
Killbreath said small or struggling businesses can benefit tremendously from bartering. But, he cautions, if the business spends more than it is taking in the business will naturally collapse.
Adams is a member of the Trade Association in Flint and the Metro Trade Association in Oakland and Wayne counties. She holds a bachelor's of science and master's of science in business.
In other action:
• Bethany Collins spoke about the Math Family Carnival to be held Nov. 22 at Scott Elementary School, 1602 S. Averill St. UM-Flint students will chaperone the event. Light refreshments will be served and math-related door prizes will be given. Contact Collins at (810) 625-4429 for questions or to volunteer.
• Dale Scanlon said he witnessed the theft of windows and wood at Lowell School. He called the police and school administration building. There was no response from the police. A school security guard finally arrived, but took no action even though Scanlon saw where the man who vandalized the building went.
• Buses will take people from St. Andrew's Church to the International Academy at 11 a.m. Nov. 24 for a free Thanksgiving dinner.
• Veterans were honored Veteran's Day, Nov. 18, at McFarland Park, Great Lakes National Cemetery and UM-Flint in the Flint area.
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