cash flow

Bartercard Explain How Trade Dollars Can Benefit Your Business

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Given the current situation, Bartercard feel it is important to explain the huge benefits to your business of maximising cash flow, by buying and selling using Trade Dollars, and want to remind you of the different ways to use your Trade Dollars to maximise the benefits and grow your business. They also wish to point out the interest-free line of credit that is offered to all members which could be a real win for many businesses.

Maximising cash flow, retaining customers and keeping stock moving are important elements of all businesses. That’s where Bartercard comes in. Buying and selling using Trade Dollars offers advantages to business owners, across several key areas, treating Trade Dollars as a supplement to a cash-paying business. Bartercard gives members complete control over which products and services they sell through the network. When you add Bartercard to your business, you essentially allow other members to utilise your goods and services with Trade Dollars, which can help create new business, customer loyalty and increase profits.

You can use Trade Dollars to convert downtime (such as during the COVID-19 lockdown) and spare capacity into new revenue by utilising inventory, equipment, and employees. Businesses also have the ability to sell excess stock or slow-moving inventory, without the need to discount heavily. Members receive Trade Dollars as payment, which they can then spend on other goods and services within the Bartercard community.

Again, keeping good staff members during this time is very important, so use your Trade Dollars as employee bonuses, incentive schemes or gifts. Similarly, through referrals and word-of-mouth marketing, members have an advantage over their competitors, as every time a Trade Dollar member spends, it will come back to them in the form of new business from another member’s business.

As we are all experiencing reduced cash flow during the COVID-19 lockdown, use your

Trade Dollars like a credit card or bank account, using electronic currency instead of cash so you can continue to make purchases even when cash flow has slowed. Trade Dollars can be transacted via EFTPOS, online over the phone, using an app like the Bartercard App, or by transaction vouchers.

Bartercard can open up your business to new customer markets, improve cash flow, reduce business expenses and clear idle and excess stock without having to discount. It’s easy to use and acts no differently to a normal bank account or line of credit.

You can find out more about how Bartercard can work for your business by downloading their free eBook, ‘How to Use Bartercard to Grow Your Business’, and for  more information on Bartercard business benefits, Bartercard mobile apps, increasing customer retention and Bartercard marketplace please go to www.bartercard.co.nz .

Staying Afloat Over the Holiday Period With Bartercard

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For small business owners in particular, maintaining a decent cash flow at this time of the year is fundamental to staying afloat, and so keeping on top of your cash flow has to be a top priority. Bartercard knows small businesses inside out, and in this article they share some tips on how you can maximise the cash flow in your SME.

To begin with, get in the habit of preparing and sending invoices straightaway. What’s more, send them by email and that way they will get to the relevant person immediately. And while you’re at it make it easy for the customer to pay the invoice by providing your online banking details. Similarly, you need to make it clear to customers what your payment terms are; a reasonable timeframe for the average small business could be 14 days.

Technology, especially cloud-based accounting, has made it much easier to manage cash flow, and investing in reliable accounting software will be a great time saver and will allow you to focus your energies on other important tasks.

Focus on cash flow not profits. If your cash flow is in order, then it is a follow-on effect that your profit will also be in order.

You should also consider introducing incentives or fixed rate payment packages.

If late payers are a big problem in your business, then another way to keep cash flowing is to introduce incentives for customers to pay on time. You could perhaps offer a deduction off the total for full payment or a week free – whatever makes sense in your business. Alternatively, you could offer fixed rate payment packages, so, if a client pays for a whole year’s worth of services or product upfront, they get one month free. This way you’ll be getting paid in advance rather than in arrears, and the extra cash can help you explore opportunities and grow your business more easily.

Bartercard is a valuable way to conserve cash flow by sourcing products and services without opening your wallet. Use your trade dollars instead of cash to pay for services like bookkeeping and accounting, setting up your e-commerce store, printing, advertising, website, graphic design and SEO. Source products like office equipment and supplies, furniture, collateral and even wine to serve in your restaurant or gift to clients. At Bartercard there are endless ways to conserve the cash flow essential in business.

Members can visit mybc.bartercard.com to start shopping or speak to your trade broker. If you are new to Bartercard you can enquire to see how you can boost cash flow in business, every day. Effective cash flow management is critical to the success of your enterprise. Give your business the best possible chance by using these tips and keeping on top of cash flow, and for more information on selling inventory, profit increase and getting more customers please go to www.bartercard.co.nz .

Bartercard’s Tips to Keep Up Your Cash Flow Over the Holidays

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For small business owners in particular, maintaining a decent cash flow is fundamental to staying afloat, particularly during the quieter periods such as the Christmas holidays. It’s a simple equation really: no cash = no business, and so keeping on top of your cash flow has to be a top priority. Bartercard knows small businesses inside out, and in this article they share some tips on how you can maximise the cash flow in your SME.

First up, you need to invoice quickly. It should come as no surprise that if you don’t send through your invoice until two weeks after you’ve completed the work, that payment isn’t forthcoming until another two weeks at least. Get in the habit of preparing and sending invoices straightaway. What’s more, send them by email and that way they will get to the relevant person immediately. And while you’re at it make it easy for the customer to pay the invoice by providing your online banking details.

Secondly, make it clear to customers what your payment terms are. A reasonable timeframe for the average small business could be 14 days. Whatever terms you plump for, set clear expectations for your clients. You should also invest in reliable accounting software, it will be a great time saver and will allow you to focus your energies on other important tasks.

Thirdly, you need to focus on cash flow not profits. If your cash flow is in order, then it is a follow on effect that your profit will also be in order. You should also consider introducing incentives or fixed rate payment packages, and, of course, use Bartercard.

Bartercard is a valuable way to conserve cash flow by sourcing products and services without opening your wallet, using your trade dollars instead of cash to pay for services like bookkeeping and accounting, setting up your e-commerce store, printing, advertising, website, graphic design and SEO. At Bartercard there are endless ways to conserve the cash flow essential in business.

Effective cash flow management is critical to the success of your enterprise, so give your business the best possible chance by using these tips and keeping on top of cash flow, and for more information on how to increase profits, retaining customers and customer retention techniques please go to www.bartercard.co.nz .