Have you ever thought about bartering for business-related services? For example, if you're a caterer, perhaps you would offer to do an event for a local print shop in exchange for a brochure printing. Or if you're a dog walker maybe you'd offer to deliver door hangers for a lawn services company for some yard work.
With the eocnomy still in recovery mode, bartering is becoming popular for small and home-based businesses. But how do you begin to barter? There are some groups out there, like The Barter Group in Arizona, that act as clearinghouses for companies looking to barter.
Here are some things to keep in mind when bartering.
Bartering is not free. You're basically exchanging something for something else, much like you used to switch sandwiches with classmates at school. You might be pay cash, but you will "pay" something.
Bartering can be time-consuming. You have to find the right exchange at the time you need it--and be available to complete the transaction on your end.
Bartering has to be reported on your taxes. You should keep careful records of your barter deals and consult a tax attorney or CPA for how to report bartered goods or services on your tax returns.
Bartering can be a great way to supplement your business. If you've bartered for something, I'd love to hear from you.
Until next time,
Sarah
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