Many freelance writers and small business owners can benefit from using a bartering service like Premier Barter located in AZ. This is a great way to exchange services and network at the same time. Not only will you receive what you need, but you’ll meet great people and possible clients.
Bartering is nothing new. People have been bartering for centuries. Due to the current economic conditions, bartering services have been receiving a tremendous amount of attention. Some services charge a monthly fee while others charge a flat fee or commission. The fee you pay will pay for itself because you’ll save time and money on the services that you need.
“Bartering occurs when you exchange goods or services without exchanging money. An example of bartering is a plumber doing repair work for a dentist in exchange for dental services. The fair market value of goods and services received in exchange for goods or services you provide must be included in income in the year received.” Visit the IRS for more information on bartering.
Benefits of bartering
- Networking opportunity. You meet other small business owners from different industries and develop relationships with them. Eventually, they can become paying clients.
- Exchange of goods and services. If you’re a small business in need of advertising services, you can exchange your products and or services and receive the advertising and marketing services that you need for your business.
- Save money. You’d be surprised at the amount of money you save from using bartering services. It really is a win-win situation.
Working with a bartering service is a great idea no matter how tough the economy is. In times of economic unrest, small business owners do their best to cut costs wherever they can. Bartering can help defer costs like advertising and marketing which take up most of a business’s budget in addition to payroll costs.
If you use a bartering service you must report it on your taxes. The form to use is the 1099-B. Consult your CPA if you’re not sure how to report bartering services on your taxes. It’s better to be safe than sorry when it comes to the IRS.
Research bartering companies before you select one. Attend networking events because you’ll find at least one or two representatives from the local bartering company. Schedule a time to meet with someone from the company because you’ll gain a better understanding of bartering services. Getting the facts before you sign up will save you time and money in the long run.
Bartering for goods and services can help put your small business on the map. Once you establish a rapport with other business owners, you can grow your business. Word-of-mouth advertising still works. Remember, a person knows at least five or more people. Not only will you receive great services and or products, you’ll receive referrals as well. It’s another win-win situation!
What’s holding you back from using a bartering service?