New England Trade, Inc
New England Trade, Inc
MALDEN, MASSACHUSETTS and HYANNIS, MASSACHUSETTS
New England Trade, a bartering organization serving Massachusetts businesses for the past three decades, recently announced the launch of the company's Facebook page, http://www.Facebook.com/Bartering.
"When it comes to barter, word-of-mouth has always been the most common way to stay in touch with what was going on. Nowadays, word-of-mouth has expanded to social media like Facebook," said Ken Meharg, CEO of Malden, Mass.-based New England Trade. "Having a presence on Facebook gives us another vehicle to inform our members and attract new members with the variation on traditional bartering that New England Trade and our sister organization Cape Cod Trade employ."
The practice of bartering has been around since the days of the caveman (e.g. a plumber does some work for a CPA, who in turn does the plumber's taxes). In a bartering organization like New England Trade, members have access to the products and services of all the members. So, the plumber can do work for the CPA on barter, but can then choose to "spend" the bartering dollars he's accrued on another product or service offered by other members. Like use of an ocean-side condo for a week.
As a New England Trade member, there is some exchange of cash involved with barter. A 7.5 percent transaction fee goes to New England Trade and members are responsible for paying taxes on the barter dollars they earn. In what's still a struggling economy for many businesses, a bartering organization makes it possible to attract new customers and acquire the goods and services a business needs.
"Our system of bartering works because as business owners and as ordinary people, there are certain things we need. For example, the restaurant owner who needs cleaning services and billboard advertising and even dental work," said Meharg. " By offering gift certificates to his establishment, he can accrue the bartering dollars to get those items with a fraction of money out of pocket." said Meharg.
Adds Meharg, "We anticipate our Facebook page as being a resource for our members to post on new products or services they are offering, provide testimonials for fellow members and, in general, just stay plugged in to what's going on with our organization."
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