Welcome to Entrepreneur-Land; home of tough decisions and (calculated) risk takers. This living heritage evokes images of Vikings on trade routes from Russia through the Black Sea and Istanbul, trading furs and northern products for exotic silks, spices, and metal craft of the Middle East. Thanks to technology’s World Wide Web, networked and encryption secured computers, faxes, cell phones, and satellite/land-line transmissions, the United States sports dozens of barter systems with thousands of members; from the largest corporate giants down to the “Mom & Pop” businesses of Hometown, USA.
We’re talking $8 billion worth of cashless trades for goods and services, and that’s old (1993) news; it’s growing strong. These systems have solidified their political clout in NATE (National Association of Trade Exchanges) and IRTA (International Reciprocal Trade Association). And the success of their lobbyists in Washington, D. C. was demonstrated as early as 1984, when a special understanding was reached with the Internal Revenue Service (IRS).
Monthly statements, and more importantly (to the government) 1099Bs (Barter) are promulgated to these member businesses, who then put together (often using tax preparation software, I. E. TaxCut or TurboTax and submit (frequently via email) their yearly Federal Tax Returns, to an accepting IRS, which then (if authorized) electronically transfers the overpayment of taxes back into the businesses checking accounts.
Reputable barter brokers actively earn their commissions every day. These professionals provide the advertising, marketing, and accounting necessary to expand their clients businesses to areas and individuals that are not normally reached through “cash only” avenues. Developing the right strategy with a sharp barter broker can be the catalyst that enables you to start, and more importantly, stay in business, no matter how volatile the global economy gets.