“What we do is monetise a company’s underutilized, underperforming or perishable as-sets by exchanging them with other members of the network for trade credit up to the fair market value,” explains Chris Shaw, Managing Director, BizX Middle East, which is based in Dubai. “The trade credits are used to pay for budgeted cash expenses, in full or in part, freeing up resources to be invested in other areas.”

“In the US, BizXchange has conducted over AED1.1 billion (US$300 million) worth of barter transactions since 2002 and has saved our clients tens of millions of dollars every year. Through our robust worldwide network of members and affiliates, we intend to provide this innovative business tool to more and more businesses in the region,” added Shaw.

In an attempt to assist the barter industry in their preparation of video, here is the basic list of what a video should have in order to be interesting:

1. Be short and sweet and to the point. No one likes a long video of a talking head.
2. Don’t have the whole video be someone sitting in a chair talking.
3. Add some footage of real work being done OVER top of the video of the person talking in the chair. (It breaks up the sequence, offers interesting eye candy while the ears still focus on the words being said.)
4. Add your logo to the beginning on a tile.

That’s it. It’s not rocket science, but BizX continually does a good job with their video. And so can you. Check it out.

Read more: BizXchange barter network spurs member donations | Puget Sound Business Journal

By providing companies with the BizX dollar, an alternate form of currency, BizXchange helps businesses generate new sales and allows them to offset expenses by using BizX dollars rather than cash.

“The tough economic climate has made business owners look for creative ways to increase their sales and cash flow,” Bob Bagga, BizXchange CEO said. “Our growth over the last year is testimony to the valuable resource we provide companies and we are honored to be recognized for our commitment to the business community.  The success of BizXchange is made possible by our team members, clients and partners around the world.”

With over 2,000 members worldwide, BizXchange has conducted over $300 Million in trade transactions since its inception in 2002. In the last three years the company has had a growth rate of 274 percent.

The Inc. 5000 is an extension of Inc. magazine’s annual Inc. 500 list, a comprehensive listing of the fastest growing companies in America. The list includes companies from the business service industry to IT and internet consulting to retail sales, among many other industries. The 2010 Inc. 5000 list measures revenue growth from 2006 to 2009.

In order to provide more companies the opportunity to increase their business efficiency through organized trade, BizXchange’s future plans include increasing the company’s presence in current markets and opening new offices in key domestic and international markets.

A hearty congrats to BizXchange!

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

Costco member Aaron Zarling, owner of King’s Mattress in Seattle, embraces an age-old strategy for making his idle inventory profitable. With the help of BizXchange, a business barter exchange, he gains new customers and offsets normal operating costs through bartering, trading mattresses for printing, advertising, and employee incentives, all without paying cash.

See the full story at http://www.costcoconnection.com/connection/201006#pg23

“Bartering for health care is more common than people may think and is a practice that is thriving in organized business-to-business trade exchanges,” said Bob Bagga, CEO and Founder of BizXchange. “None of the doctors we do business with have traded their services for chickens or other livestock, but they do accept BizX Trade Dollars offered through our B2B barter network.”

Unlike one-to-one transactions that occur with direct barter, BizXchange members accept BizX Trade Dollars for payment when they make a sale. Members are free to purchase products or services from any other member within the BizX network—they do not have to accept each other’s merchandise directly.

Just like the other companies and organizations in the BizX network, health care providers can use BizX dollars, an IRS compliant currency, to offset the cash outlay of everyday business expenses such as printing, advertising, facility maintenance, along with many other products and services that are required to run their business. “We are facilitating over $5 million a month in B2B barter transactions between the members, including the health care providers, which results in an equal amount of cash savings to their bottom lines,” Bagga added.

On the other side of the transaction, those who purchase health care services through the barter exchange are saving cash. The benefit to these companies is that by using barter through BizXchange, it becomes possible to offer health care to employees and their families without spending cash.

“BizX Members are using their BizX dollars to allow their employees to come in to have dental care done,” BizX Member Vicki Fidler, DDS said. “And as an employer I know that health care costs are very high and sometimes offering dental insurance can be a bit cost prohibitive. BizX allows employers to give their employees that benefit but in a different way. This is a win-win for everybody.”

Within the BizX network, health care service providers include dentists, vision care specialists, chiropractors, physical therapists and plastic surgeons. The BizX network also includes a membership-based health care provider, QLiance Medical Group, that offers medical coverage for primary and preventive care, chronic disease management and minor urgent care to companies and individuals.

Bartering chickens for health care is a far-fetched idea today, but finding a medical or dental provider who is a member of a barter network is not.