Article by BizX member Entrepreneur Magazine.
BizX was recently mentioned in Entrepreneur Magazine's article about the future of B2B commerce! Read the article recap below or link to the full article.
Many small-to medium-size business owners have begun to barter, trade and swap good and services without any cash involved.
The trouble with traditional bartering like this is that it's incredibly difficult to scale. That's what gave Bob Bagga, CEO and founder of BizX, the idea to create a community that enables businesses to turn their excess capacity into potential capital. Bagga explains:
"By using the BizX dollar, businesses are able to turn extra business capacity and assets into cash flow, which can, in turn, be spent at member businesses without any cash involved. The goal for us is the reduce waste, maximize member potential and help companies earn new customers."
Most business owners have plenty of great ideas to grow, but lack the capital and cash resources needed for those growth initiatives. As a result, businesses looking at growing should explore growth opportunities that require little to no upfront investment.
The Future of B2B commerce
B2B coampanies often operate at less than their full potential. Most B2B companies have excess business potential because they offer products or services that could field more customers at a small marginal cost of good sold. Companies that are able to exchange services based on a shared or complementary currency can determine when and how to spend their newfound capital. Many will use that for marketing, advertising and public relations services that would otherwise have been too costly.
For more details, read the whole article at: https://www.entrepreneur.com/article/303367#
Entrepreneur Magazine is the premier source for everything small business.
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