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SMALL BUSINESS : Bartering in Small Business can HelpWhen Carrie Kerpen was looking to get her small marketing business off the ground, she knew she had to build one thing: credibility. "We were looking for ways to build credibility," Kerpen, who founded the company with her husband in 2006, said. "If we were breaking into a new category we were happy to barter with the company because it usually led to a paid job - if not from them, from another company in the industry." The company, which has 8 full-time employees and 30 part-time people in offices in New York City and Boston, has worked with a retailer that sells flowers and gifts in exchange for marketing help. "The company provided us flowers and gifts that we sent to potential clients after meetings. It really added that extra "WOW" factor, she said. "It definitely made us look more credible and helped us snag clients." Bartering allows businesses to receive goods and services without hurting cash flow, which can be tight these day; last year, more than 250,000 businesses engaged in bartering to help boost revenue. Business-to-business barter transactions generate $12 billion annually through the modern trade and barter industry, according to the International Reciprocal Trade Association. Here are five tips to keep in mind when bartering. Bartering tip #1 : Keep Values Fair Treat a barter client like any other client, said Kerpen. "Compare prices with others in the industry to make sure you are getting a fair deal, and put everything in writing." When drawing up the contract be sure to include a deadline for the services or goods to be delivered. Bartering tip #2 : Don’t Sell Yourself Short If you are using an online bartering site make sure to really sell your qualities. "If you are an electrician, include your experience, number of clients, a list of skills, recommendations and before and after pictures," said John Moore, founder of the online bartering site U-Exchange. Moore, who said activity on the site spiked last January 2009 and continues to stay strong, also suggested people be proactive with getting business. "Don’t just sit back and wait for people to come to you; make the initial contact to see what is out there" Bartering tip #3 : Stay in Contact It’s a good idea to check in with the barter client to make sure the exchange is on track. "Have a monthly status meeting if the deal is long term. Communication is key and you want to make sure everyone is happy," Kerpen said. Bartering tip #4 : Start Small If it’s your first time bartering, don’t jump in head first, said Danielle McCormick, founder and CEO of MyCubi.com. "If it’s a big project start with the person doing a small task to make sure the long term relationship is going to work." Bartering tip #5 : Don’t Forget Uncle Sam There is no loophole for bartered transactions, and trades are taxable in the yearperformed, according to the IRS. The fair market value of the goods and services being exchanged should be declared as income for tax purposes. source: http://www.foxbusiness.com/story/small-business/small-businesses-need-know-bartering/ ?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxbusiness%2Fsmall_business+(Text+-+Small+Business) Information to pick the best Small Business Credit CardFinding the best small business credit card means doing a little information research. For entrepreneurs seeking a small business credit card, the shopping list includes more than just APRs and airline miles...Starting a Small Business IdeaYou have thought out an angle for starting a small business idea that is going to revolutionize the industry. Are you willing...Good Small Business PracticesGood small business practices require good business etiquette. 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