The National in Abu Dhabi featured a barter related article today relating the tale of the growth of BizX, a Seattle based company, in Dubai and the surrounding area.
Bob Bagga is the chief executive of BizXchange (www.bizx.com), an organisation that mediated more than US$100 million (Dh367m) worth of transactions last year. He says that bartering offers an innovative way of acquiring the products or services you need by unlocking capital and equity you may already have but can’t necessarily use yourself.
Of his 2,000 clients worldwide, Mr Bagga says only 200 are located in the Emirates. But participation in BizXchange from local companies is booming, with $50m in transactions expected this year.“Last year, the UAE market grew 400 per cent, and we’re looking at about the same amount of growth this year,” says Mr Bagga, who launched the company in 2007.
See the whole story at http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100529/PERSONALFINANCE/705289940/1042
