Barter is a method of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.
Online bartering exchanges have developed which enable multi-lateral bartering transactions.
A straightforward unilateral barter is an agreement between two businesses to trade mutually acceptable goods or services on a transaction by transaction basis. Arranging a barter transaction involves a simple approach from one business to the other.
Applying to join an online bartering service is also straightforward. Online barter services will offer a wide range of goods and services and help businesses find mutually suitable barter transactions. You normally apply via a simple online application process.
There is little to consider in the way of maintenance, other than ensuring that the goods or services are received and delivered as promised under the arrangement.
The business will need be to ensure that correct documentation is maintained in order to ensure the correct tax and VAT treatment. Online barter exchanges can provide useful documentation to supplement the accounting records.
In addition to bartering, there are many other sources of finance to explore. From loans and commercial mortgages to cashflow finance and trade solutions, Barclays can help businesses find the right solution to support growth. Follow the link below.