IRTA Sends Letter To USA Today

(The following letter to the editor of USA Today was sent last week on letterhead from the International Reciprocal Trade Association.)

Dear Mr. Hillkirk:

We are responding to address issues that were brought forward in the February 26, 2009, article titled �For Work, That Will Cost One Laptop� by Emily Bazar.

The article was primarily focused on one-to-one barter activities between individuals. One-to-one bartering, or ancient barter, was man�s first method of commerce and is still widely practiced today.  As Professor  Staiger said, it does not significantly contribute to the nation�s or world�s GDP.

We would like to point out that there is a Modern Trade and Barter Industry that facilitates 12 billion dollars in business-to-business barter transactions worldwide annually. Last year over 250,000 participating businesses in the U.S. utilized this process to earn additional revenues and profits.

Modern Trade and Barter companies in the U.S. are considered third party record keepers pursuant to the Tax Equity and Fair Responsibility Act (TEFRA) of 1982 and as such are required to make IRS 1099-B filings verifying the gross amount of barter sales for their participating members. Clearly, the Modern Trade and Barter Industry is hardly an �underground economy� and it does indeed make a significant contribution to the nation�s GDP.

With the current economic conditions, businesses are searching for innovative ways to capitalize and earn additional revenues, and they are finding these benefits by utilizing the services provided by the Modern Trade and Barter Industry. Right now the industry is experiencing a major increase in barter transactions and applications for membership.

In our view the Modern Trade and Barter Industry is poised to provide a significant element in the economic recovery by supplying business capital that will lead to job creation and increases in production and consumption.

IRTA is a non-profit organization now in its thirtieth year of operation. IRTA regulates and provides standards for companies who supply businesses with Modern Trade and Barter services. For more information regarding IRTA�s mission and goals please access our web site www.irta.com.

Sincerely,
David Wallach, President
Ron Whitney, Director

Attention Trade Exchange Owners. . .It�s GROW OR GO!

The magic bullet for growth is sales, always has been and always will be...yet the industry�s overall growth is anemic. Why? Maybe it�s because we�re not providing on-going education about our unique way of doing business. Knowledge is always a pre-requisite to taking sustained action.

And for those newcomers, the lifeblood of an exchange, awareness of and understanding about the value of trading is even more important.

If you expect prospects to come aboard and your members to be more active traders, but you are perplexed when the results are less than you desire...there�s a good reason. You must continually educate and motivate every month--month after month after month!

Such action is necessary because, let�s face it, more cash business, not trade, is of paramount importance to your members. You must break through this �cash only� focus and redirect their thinking toward barter. Although most exchanges don�t see the importance of doing so, many industry leaders are taking action and so can you.

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Barter�s Activity Is Impossible To Measure

According to Brett Beemer, founder of the South Carolina-based America�s Research Group and author of the book �The Customer Rules,� how much barter is actually taking place is impossible to measure, but it certainly is on the rise. (Barter activity on Craigslist confirms Beemer�s assertions.)

Beemer says people are never honest about bartering. When he conducts surveys people often don�t want to talk about it. Pushing barter�s use is the consumers desire to find a way to survive in these tough economic times.

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