Discussion
Was pitched to by a very nice Australian gentleman who wore too much Argos jewellery and took my business acumen for granted (jeans and a t-shirt doesn't mean I'm not a businessman Pr
ck)
The concept seemed sound until right at the death, fees and percentages were discussed. Thought it was a load of old tosh myself.
IMHO
ck) The concept seemed sound until right at the death, fees and percentages were discussed. Thought it was a load of old tosh myself.
IMHO
I'm a member and have been for about 14 months.
Basically,you get a credit line of £5 - £10k to spend on almost anything.
Once you spend, Bartercard get you business to repay the debt.
If I spend £10k on advertising/printing/car servicing etc etc etc... I repay the loan with £10k of office furniture business that Bartercard get me.
On furniture, we can make 50%Gross Profit, so the loan is repaid at half the cost, but you have to be canny when spending, as some members may inflate their prices to increase their own GP levels to repay their debt lines.
Basically, it works well. Cost to my business, £15 per month and approx 5% transaction charges. Plus joining fee.
Have a look. It works for some businesses with high GP levels, not so good if you have a lower GP percentage.
If you need any more info, PM me from my profile.
Cheers,
Mart
Basically,you get a credit line of £5 - £10k to spend on almost anything.
Once you spend, Bartercard get you business to repay the debt.
If I spend £10k on advertising/printing/car servicing etc etc etc... I repay the loan with £10k of office furniture business that Bartercard get me.
On furniture, we can make 50%Gross Profit, so the loan is repaid at half the cost, but you have to be canny when spending, as some members may inflate their prices to increase their own GP levels to repay their debt lines.
Basically, it works well. Cost to my business, £15 per month and approx 5% transaction charges. Plus joining fee.
Have a look. It works for some businesses with high GP levels, not so good if you have a lower GP percentage.
If you need any more info, PM me from my profile.
Cheers,
Mart
Im going to sign up 
Aside from the £1000-£1500 joining fee, the benefits are as follows:
1) They turn on business for you like a tap. If you want a slow steady trickle they make sure the business comes in. If you want more enquiries than you could ever possibly hope to deal with, they'll make sure you get them. Its free business basically, and you can have as much new business as you want or think you can deal with. It does sound too good to be true - but apparently, its all good stuff, so long as you have the time to deal with whatever new business they find you.
2) The network is sufficiently large to enable you to buy anything. Houses, holidays, flights, electronics, white goods, food, whatever. If you make 50% margin on your own businesses' products, then everything you buy will be at a 50% discount. And its business you would otherwise not have had, all for free (except the signup fee) and as mentioned above, after speaking to them today, it really does seem to be a case of them being able to send you more business than you can deal with, you just need to ask for more or less
I dont like schemes, but this one looks good
Aside from the £1000-£1500 joining fee, the benefits are as follows: 1) They turn on business for you like a tap. If you want a slow steady trickle they make sure the business comes in. If you want more enquiries than you could ever possibly hope to deal with, they'll make sure you get them. Its free business basically, and you can have as much new business as you want or think you can deal with. It does sound too good to be true - but apparently, its all good stuff, so long as you have the time to deal with whatever new business they find you.
2) The network is sufficiently large to enable you to buy anything. Houses, holidays, flights, electronics, white goods, food, whatever. If you make 50% margin on your own businesses' products, then everything you buy will be at a 50% discount. And its business you would otherwise not have had, all for free (except the signup fee) and as mentioned above, after speaking to them today, it really does seem to be a case of them being able to send you more business than you can deal with, you just need to ask for more or less
I dont like schemes, but this one looks good
I presume that is to ensure that you declare all the Output VAT on your sales and claim the Input VAT (where appropriate) on your costs.
The VAT regulations do cover "offset" schemes such as these but there are many people out there who forget all about the VAT implication of "Non-Cash" transactions - especially if they are on "Cash Accounting".
>> Edited by Eric Mc on Monday 20th February 16:25
The VAT regulations do cover "offset" schemes such as these but there are many people out there who forget all about the VAT implication of "Non-Cash" transactions - especially if they are on "Cash Accounting".
>> Edited by Eric Mc on Monday 20th February 16:25
This sounds very interesting, especially with an instant line of credit which is theoretically interest free. However I operate in a relatively niche market - if I open up an account and spend £5k on, for instance, developing my website with Ukbob, but then have no sales to clear my "debt", am I just tied in until I do clear it? It could be years in theory, is it possible to pay your way out with real money?
>> Edited by touchingcloth on Tuesday 21st February 10:03
>> Edited by touchingcloth on Tuesday 21st February 10:03
My experience of schemes like this (and Ecademy, BNI, et. al) is that they are fine if you're in a fairly generalist business. If you sell stationery, sell office furniture or do basic web design, that's fine you'll do well. If you're in a more specialist market, or selling high value products or services, you will struggle.
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