Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Newest Barter Exchange On The Block Growing Fast

Nov 24 2004

Newest Barter Exchange On The Block Growing Fast

Around 150 businesses are now joining Ozone each month. The New Zealand member-owned barter exchange is just coming up to the end of its first full year in business and membership is in reach of the four-figure threshold.


Ozone Barter opened its doors only last November but already clients have joined from all business sectors and every city in New Zealand, says the company.
Up to now, transactions have been made using a combination of cheque-like vouchers and the internet, but as business has grows an electronic card-based system has been developed. Ozone Barter Ltd have entered a "one-off" agreement with Westpac who work in partnership with card terminal supplier Provenco.


Westpac have a significant slice of the NZ card processing EFTPOS market, and according to its national associations manager, Martin Welsh 'With our experience and expertise in card payments we will deliver Ozone's technology solution in weeks rather than months'.

'Typically clients increase sales, spread their customer base, and often sidestep cash-flow problems for quicker access to the varied products and services they need to grow their companies' says Marilyn Burnet, the company's marketing manager, of the benefits of Ozone Barter.
'We have sold high-value items such as catamarans and cars, photocopiers and even engagement rings' she says 'But of course we also have a range of business essentials available on barter which help our customers reduce their daily cash expenses as well.
Internet access, water coolers, tea and coffee, stationery, printing, accommodation and car repairs are all extremely popular and help a business conserve its cash for wages and rent.'

'Barter is the art of trading what you have, for what you want. Many entrepreneurs and large corporations prefer to keep their money in the bank as they expand their business,' she says.
Taxation is no problem: trade dollars are accepted as 'real' cash, both for sales, purchases and GST, she says.

'We've won business we never would have seen otherwise', says sign-writer and engraver Mark Perkins of MAP Design 'We have built up trade dollars, and purchased computers, car repairs, gifts and other items that we would have otherwise had to use cash to pay for. This has allowed us to re-invest the cash into our own business'.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>