Bartercard

Remunerating Your Employees With the Help of Bartercard

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Did you know that Bartercard’s benefits can be used to incentivise performance within your talented team? Bartercard’s cashless currency is becoming a popular choice for employers to incentivise their employees, rewarding additional bonuses and providing staff gifts. In this article Bartercard explain why more and more New Zealand businesses are turning to Bartercard to supplement their workers’ compensation.

For a start, trade dollars can be used to purchase gifts, allowing business owners to conserve that all-important cash, and employees are now being gifted dinners out, accommodation, travel options, and Bartercard gift cards which can be used at thousands of merchants nationwide.

Trade dollars can also serve as an employee bonus for workers, and can act as an incentive scheme for your employees. You can also offer them as a gift card, amounting to T$100 or T$500. Businesses can also set up each employee with a staff card, and you can pay a certain percentage of their salary in trade dollars. This is a great way to motivate your workers to keep your business successful. They can use the trade dollars the same way as you would, to access other goods and services, in accordance with their personal preferences. They’re free to choose where to personally spend their trade dollars without touching their cash.

However, Bartercard isn’t just a B2B benefit; it helps to improve people’s lifestyles with purchases they may not necessarily be able to afford themselves, or might not otherwise think about purchasing. With Bartercard’s new loyalty rewards program, bRewards. https://www.bartercard.co.nz/Members+Information/brewards.html, there’s even more reason to join the network with exclusive offers that not only reward your business, they reward your family and you. With options in Building & Construction, Hospitality & Tourism, Manufacturing & Production, as well as Retail & Professional Services, bRewards offers exciting opportunities to turn trade dollars into just what your employees need.

If you’re interested to find out how Bartercard can benefit your business by providing incentives to your employees, saving cash, and gaining rewards by introducing new members to the network, and to find out more about bRewards and loyalty rewards programs please go to www.bartercard.co.nz .

How One Business Turned Excess Inventory into Increased Profits Through the Power of Bartercard

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In this article Byron Smith, Managing Director of Total Finish Painting, talks about the benefits Bartercard has brought to his business since joining the network in September 2018. Byron says that as a direct result of joining Bartercard in just a short space of time, they have received a number of quote requests that they wouldn’t have necessarily received and secured more jobs because they can accept payment through Bartercard’s electronic currency, trade dollars.

Byron says, “We have been really impressed with how our Trade Broker has gone above and beyond in marketing our company’s services across the network. We are regularly receiving referrals which not only is a good endorsement for our business, but it also shows the power of Bartercard and how easy it is to build your client base further. We are really excited about the impact Bartercard will bring to our cashflow and the opportunities it presents”.

Bartercard provides business opportunities to its members by making use of unused trading capacity and excess inventory to increase profits and get new customers, and Total Finish Painting Contractors is just one of the Bartercard members delivering professional results for all their clients’ painting and decorating needs throughout Canterbury and wider South Island region.

Bartercard simply allows its members to pay for products and services using trade dollars instead of paying in cash. These trade dollars are then used to offset cash expenses within your business. Trade dollars are a well-recognised and accepted method of payment in New Zealand. One trade dollar is equivalent to one New Zealand dollar for all accounting and taxation purposes.

Each time you spend with trade dollars, that expense will come back to you when you get more customers from another Bartercard member. New customers generated by Bartercard will be incremental to your existing cash business, and therefore will not interfere with your existing business model.

You can also download the free e-book, ‘How to Use Bartercard to Grow Your business’ to find out how much you stand to gain from joining the Bartercard network.  For more information on about customer loyalty schemes, increasing profits and getting new customers please go to www.bartercard.co.nz .

 

Bartercard New Zealand

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Bartercard is unlike any other credit or debit card because you fund our card with your own goods and services…NOT CASH. Bartercard currently helps over 7,000 smart businesses in New Zealand to increase sales, customer base, cash-flow and profit. Bartercard enables member businesses to exchange goods and services with other member businesses, saving valuable cash, without having to engage in a direct swap of goods.

Bartercard New Zealand has 13 branches nationwide.

Increase Profits And Improve Cashflow With Bartercard

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Bartercard members are part of an enormous community of businesses that are increasing revenue and improving their cashflow, using an electronic currency called a Trade Dollar. One Trade Dollar is equivalent to one New Zealand Dollar for all accounting and taxation purposes and members then take these Trade Dollars and use them to offset cash expenses within their business.

Assuming Bartercard members have their current cash business already covering their fixed overheads, such as rent and wages, and they have the capacity to take on new business, the only cost in supplying another Bartercard member is their product replacement/variable cost. This means that when they make a purchase using Trade Dollars (T$) they are effectively getting a discount equal to their Gross Profit Margin.

When a company spends cash there is no guarantee of the return. With the Trade Dollar Bartercard members know that each time they spend, it will come back to them in the form of new business from another Bartercard member. Bartercard members are motivated to utilise fellow members’ goods and services because they are paying with their Gross Profit Margin, saving them cash every time they spend.

The new customers generated by Bartercard will be incremental (on top of) any existing cash business, therefore not interfering with their existing business model and Bartercard aims to increase members’ business by 5-15% and increase their net cash profit.

Corey and Rohini, owners of The Oakroom, a popular inner city bar are thrilled with their experiences since joining Bartercard and have this to say: “The team at Bartercard are truly high-calibre and energetic. Their knowledge of the local market and their key contacts in the community helped us in our search for a lot of what we were looking for to be able to setup and continually vary The Oakroom. Geoff our Trade Broker made sure we got the best value for the products that we were looking for.

“Bartercard also came through on its promise to us of new customers. After joining we immediately had new patrons coming through our doors. Functions during our downtime are also a focus for us. Since joining Bartercard we have had a number of Corporate Functions and it’s been exciting to see new cash customers returning as a result and spreading the word about our new bar.”

Intending members should take a moment to visit the website at http://www.bartercard.co.nz  to discover how to join Bartercard and how to get the most out of their membership by using their trade dollars for more important things… like relaxing and having a coffee at their local bar or servicing their car at the mechanics.

 

Bartercard Are Very Serious About Fair Trading On The Exchange

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Bartercard NZ launches their Fair Trading campaign under the NZ law and due to the number of recent changes to the New Zealand legislation impacting on businesses and their obligations when promoting and selling goods, Bartercard took this as an opportunity to put something together to further explain what this means for the Bartercard Trade Exchange. The purpose is to help Bartercard members understand the changes and ensure members are meeting their legal obligations when conducting business on Bartercard. This will help eliminate unfair trading and create a healthier exchange. Like the cash economy they operate in the same way and those rules and laws apply to Bartercard.

‘The FTA applies to what people say and do when promoting and selling goods and services. The Act applies to all sales by professional traders, but not to one-off private trades. The FTA prohibits misleading and deceptive conduct, false representations and unfair practices by people in trade. The FTA has been amended and penalties under the Act have increased.

‘See http://www.business.govt.nz/laws-and-regulations/consumer-laws/understanding-the-fair-trading-act .

‘Unfair practices are selling methods which mislead you. Unfair practices which are illegal under the FTA include bait advertising. Some examples of unfair practises are:

‘When a seller advertises particular goods or services at a particular price, and doesn’t intend supplying or selling reasonable quantities at that price.

‘When a seller advertises as goods being payable in Bartercard but you find when you come to collect the goods that cash is involved. (Note: It is a condition that to list in the Bartercard directory, that advertised services are 100% on Bartercard).

‘When a seller’s pricing is different when paying with Bartercard.

‘To assist in the definition of what is fair and taking into account the terms and conditions members are bound by, you will find enclosed a document on Fair Practices for conducting business on Bartercard. Should you have a dispute with another member, Bartercard is not able to directly assist in resolving the dispute as Bartercard is not a party to the contract. It would also be possible for a Court or Tribunal to overturn a decision made by Bartercard in such a dispute. We therefore encourage members to have clear expectations prior to entering into agreements and to seek legal advice as required. Please refer to the booklet enclosed or visit www.bartercard.co.nz/fair-trading .

‘Bartercard is however interested in being made aware of any dealings that you have that you believe are unfair or unlawful. Bartercard can then decide if the circumstances mean that a member should be removed from the exchange particularly if it’s not a one off occurrence. By holding members accountable, this will assist in maintaining a healthy exchange.’

As Bartercard are really trying to help their members by providing them with the legislation with examples of how this applies in Bartercard, people should go to http://www.bartercard.co.nz  .