CLEVELAND BARTER CONNECTION QUARTERLY
cbc.thetradealliance.com
cbc.thetradealliance.com
A Little Background Info On Barter Exchanges and How They Work.
November 2018
THE CLEVELAND BARTER CONNECTION, - WHO WE ARE?
THE CLEVELAND BARTER CONNECTION is currently a group of of businesses ( over 3200 national members and just over a hundred .. and growing ... local Cleveland and Cuyahoga County members.
BY JEAN MURRAY Updated September 26, 2018
Back in pre-money times, businesses operated in a barter economy, where goods and services were exchanged freely, and money was not a medium of exchange. Those days have passed, but many business people still barter..
A modern way of bartering involves, of course, the internet and organizations that manage and control bartering between businesses and individuals. These systems are called barter exchanges. This is what CLEVELAND BARTER CONNECTION is . We are part of the nationally known TRADE ALLIANCE Barter Exhange. CLEVELAND BARTER CONNECTION is 1 of the 17 TRADE ALLIANCE brokers spread out across the USA. Our members of the CLEVELAND BARTER CONECTION are allowed to barter trade with over +3200 members currently with the TRADE ALLIANCE.
How Big Is the Barter Economy?
The International Reciprocal Trade Association (IRTA) says it's difficult to tell because most barter transactions don't get recorded. But the IRTA says barter is in the 12 to 14 billion dollar range. About half of this amount comes from traditional retail barter exchange companies ( like CLEVELAND BARTER CONNECTION ) and corporate bartering between Companies.
How Do Businesses Barter?
Barter is simply an exchange of goods and services between individuals, including businesses. The important thing to remember about bartering with other businesses is that the IRS considers barter taxable. So you must keep a record of your barter transactions, including any expenses you have related to these transactions and the income you have from these transactions.
Keeping track of barter transactions gets complicated if you are bartering with several individuals or businesses. This is where a barter exchange comes in.
What’s a Barter Exchange?
A barter exchange is an organization that serves as a third party to coordinate
THE CLEVELAND BARTER CONNECTION began operations in April 2018 and officially started to sign up members on June 1st of 2018. Our 2-year membership goal is to have 900 local Northeast Ohio merchants and business services as members by the Holiday Season of 2020.
THIS IS HOW TRADE BARTERING WORKS!!! NO MONEY
cbc.thetradealliance.com
barter transactions between members of the organization and as a bank to keep track of the value of barter transactions and the value of each member's account. Barter exchanges provide a monthly accounting for each member and yearend tax reporting of barter transactions. That’s what we do at CLEVELAND BARTER CONNECTION. Using our website www. cbc.thetradealliance.com as the control center, we serve as the help center on making barter trades, recording all trade transactions and keeping the accounting records accurate on reporting who has what in trade balances.
Barter exchanges are usually local or regional, and they have websites ( ours is www.cbc.thetradealliance.com) which list products or services for sale. If you buy products or services from exchange members, your Trade Account is debited;
if you sell products or services to other members, your account is credited.
Barter exchanges allow you to trade with more businesses. Many of these barters are not one-to-one. For example, an auto repair business may barter with a radio station that barters with a printer that barters with a delivery service. Most Barter exchanges charge an initial membership fee, a transaction percentage, and a monthly maintenance fee. Some barter exchanges also charge a monthly fee to "stock" the account, to encourage buying and selling.
WE DONT AT CLEVELAND BARTER CONNECTION! For an undisclosed time period, while CLEVELAND BARTER CONNECTION is growing it’s membership directory ( cont. on page 2)