Nubarter News, Events, Testimonials, and Media

Published: 28 Aug 2009 01:18:06 PST

Author: Rosalind Resnick

Q: Our sales have been slow for the past three months, and I’m worried that we won‘t have the cash we need to keep our home based catering business afloat. Any ideas?

A: If you don’t have the money to pay your suppliers, ask whether they’ll consider a barter deal instead. Barter, a noncash exchange of goods and services that dates back to the dawn of human existence, has seen a resurgence among cash-strapped small businesses that lack the cash or credit to pay for the supplies, advertising and other products and services they need to survive.

As a catering business that can offer food preparation and hospitality services, your company is in an excellent position to barter with a wide range of vendors–radio stations that sell the ad spots you need to attract new customers, attorneys and accountants who may be willing to swap their professional advice for help throwing parties and creating gift baskets, even a web designer who’s willing to host or update your site. Thanks to the internet, barter deals can be done online through exchanges such as International Monetary Systems and Itex, which promise to help you conserve cash and boost sales by letting members trade their excess inventory at full value to purchase computer equipment, T-shirts, caps, phones, printing services and even restaurant meals.

But barter has its limitations. Just about every landlord still wants his monthly rent in old-fashioned greenbacks–and your local utility probably won’t let you use cupcakes to pay the electric bill. There are also tax consequences to consider. Michael Goldberg, a CPA from Scarsdale, N.Y., who advises small and midsize businesses on tax planning and compliance, says it’s important to remember that barter transactions are considered sales and must be reported to the IRS on your federal tax return.

While it may be possible (though not legal) to barter your services with the company next door and not report it, you can’t get away with it when doing business through barter exchanges on the internet. “Barter clubs credit or debit members’ accounts based on goods and services provided and purchased,” Goldberg says, noting that most club members will get an IRS form 1099-B from the exchange showing the value of the credits to their account.

However, debits to members’ accounts can be tax-deductible if they are spent in connection with a trade or business. “IRS looks closely at barter transactions to confirm that they are reported properly,” Goldberg says. “A standard preliminary question in an IRS audit is whether there have been any barter transactions.”

06.04.2009 – A recent consumer survey revealed that three out of four Americans are planning a vacation trip this year despite the recession. People are modifying their vacations by looking for affordable destinations and by traveling to places that offer a great return on their investments, the poll revealed. NuBarter, a Savannah-based online bartering company becoming increasingly popular in this down economy is offering travelers a better way to enjoy their sizzling vacations – and keep their cash in their pockets. With the dollar doing much better internationally, families can now afford to plan foreign travel on a dime to destinations such as Acapulco, Turkey and other Western European countries.

Happy to paint a picture, Aaron Tillinger, owner of the NuBarter territory in Atlanta says, “We’re in the business of making lives easier. We’re happy to give families the opportunity for a summer of their dreams, in a down economy on barter!” He continues, “Picture this: three or four nights’ accommodations at a swanky international destination, beach chairs under the shade of umbrellas, memorable meals at an area restaurant with drinks included and a memory card full of decadent moments – most of it on barter.”

With over 1500 members, NuBarter offers global travel deals to exclusive resorts and hotels for families planning sensational vacations even in a recession. Studies show, bartering activity, a transaction that involves trading goods and services without exchanging money, rises dramatically during economic downturns. The worldwide organized barter exchange and trade industry has grown to a $16 billion a year industry and is used by thousands of businesses and individuals. NuBarter as a whole did just under $3 million in 2008 with expected revenue at $4 million this year.

Some destinations NuBarter members in the Atlanta area are enjoying are:
Bridge Hotel, Boca Raton, FL
California’s Mendocino Coast at Stevenswood Spa Resort
Vail Valley, Colorado
Corinthia Luxury Hotels, Turkey
The Buccaneer, St. Croix, US Virgin Islands
Rixos Hotels, Turkey
Waikiki and Maui Islands, Hawaii
Manzanillo, Mexico

Other international destinations include: Istanbul, Cyprus, France, Acapulco, The Mediterranean, Costa Rica and more.

Many destinations are luxury and 5-star resorts suitable for nice romantic getaways or perfect for a family vacation overlooking world renowned beaches and sparkling waters. These offers are only available to NuBarter members. To take advantage of these exclusive offers accessible only through NuBarter, please contact your NuBarter travel representative, Jenny Tillinger @ jenny@nubarter.com or via phone @ 770-855-5983.

All media inquiries should be directed to The Write Stylz Public Relations Firm at 404-573-1627 or via email at publicist[at]thewritestylzprfirm.com.

About NuBarter
NuBarter.com is a community of global businesses that barter their goods and services. We provide an effective way to increase sales, reduce cash expenditures and increase profits. Our experienced team of business professionals offers and innovative and proven approach to business. Visit us online at www.NuBarter.com for more information.