Seattle-Based Barter Company BizXchange Has Three Outstanding Consecutive Quarters
SEATTLE-(Business Wire)-September 29, 2009 - The new normal has forced companies to explore innovative ways of cutting costs and driving new revenue. Many have discovered that participating in a b2b barter exchange helps accomplish both objectives.
Since the beginning of the year, Seattle-based barter company BizXchange has continued its strong growth, growth partially fueled by the economic downturn. During the first three quarters of 2009, barter transactions between BizX members grew at an average of thirty-two percent per quarter. The company projects to grow by an even higher rate in the fourth quarter.
“The weak economic conditions have led many businesses—large and small—to sign on with trade exchanges like BizX,” said president and CEO Bob Bagga. “Even with the markets slowly turning back toward growth, we are not seeing a corresponding decline in barter activity. Savvy companies have long realized that barter helps their balance sheets in all economic conditions—in times of economic contraction and expansion.”
BizX was recently named an Inc. 5000 company, a list of the fastest-growing private companies in the U.S. BizXchange clients range across industries from construction and manufacturing to media and business services to travel and hospitality.
In addition to Seattle, BizX conducts business nationally and internationally with offices and presence in the Bay Area and Dubai. The company is currently planning to expand into several new markets, both domestically and globally. Recent mile markers include a record-setting $2.2 million barter transaction facilitated by the BizX international division involving the trade of luxury European automobiles for advertising.
“Although Europe is ahead of us in many ways when it comes to conducting thriving barter networks, American businesses are catching on quickly and we are witnessing demand from just about every other global market,” added Bagga. “Our focus will continue to be offering members great service and a valuable tool for their business.”
About BizXchange
BizXchange is a barter consulting firm offering companies financial solutions to help improve and grow business. Clients buy and sell products and services with other exchange members using BizX dollars, which are equivalent to U.S. dollars. BizXchange has offices in Seattle, San Francisco and Dubai. www.bizx.com.
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