BarterPay and Startup Canada have formed a partnership that will bring the BarterPay trading platform to thousands of businesses and entrepreneurs across the country. The organized bartering platform will help businesses generate new sales and offset costs resulting in a big boost to the bottom line. To celebrate this new partnership, we’re working together to hold a nation-wide Small Business Super Heroes campaign where small businesses can win 1,500 Barter Credits™ for free.
A national partnership to help at the hyperlocal level
Through the BarterPay platform, businesses have access to a wide variety of goods and services without needing to use cash. Instead, businesses trade their ‘spare capacity’—unsold time, space, and idle inventory. Unlike one-to-one bartering (which requires two parties to want what the other is offering at the same time and value), BarterPay is a one-to-many ecosystem where businesses exchange their spare capacity for Barter Credits™, at full value, that can then be redeemed with any other BarterPay member for the things they need to offset costs. One Barter Credit™ equals one Canadian dollar for valuation, accounting, and tax purposes and are recognized as a cash equivalent by the Canada Revenue Agency (CRA).
“This partnership brings a unique opportunity for startups to conduct smart business using barter”, says John Porter, Founder and CEO at BarterPay. “During a time when cash is scarce and spare capacity is at an all-time high, it’s imperative that businesses adopt new ways to improve their cash flow. Our user-friendly bartering system makes it easy for businesses to leverage their under-performing assets to get what they need and keep their cash in the bank”.
Win 1,500 Barter Credits™ for free
It goes without saying that it has been an incredibly hard year. Even though things may be looking up, we understand that it doesn’t erase the hurt, loss, and challenges that small businesses and entrepreneurs have felt. We know we can’t undo that. However much like superheroes, entrepreneurs dream big and take big risks. They are courageous, brave, resilient, and they don’t give up!
In partnership with BarterPay, we’re excited to announce our Small Business Super Heroes campaign! What started off as a one-off #StartupChats has now expanded to become nation-wide across Canada. Now led by our Startup Communities, this initiative aims to recognize and directly support small businesses through nominating local businesses.
Three winners will be chosen per province and territory and announced on July 5, where each winner will win 1,500 Barter Credits™ (equivalent to a value of CAD$1,500!) To participate, fill in this form to nominate a local business that you feel is most deserving of recognition and support.
BarterPay is a social profit enterprise and Canada’s only national business-to-business barter system headquartered in Hamilton, Ontario. BarterPay helps businesses obtain the goods and services they need without using cash, instead they barter their idle inventory and/or services. To date, BarterPay has completed over $600 million in barter transactions saving businesses in excess of $200 million. The network currently represents just over 4000 businesses and 100 charities in 22 Canadian cities and growing fast. BarterPay plans to scale to 100,000+ business members and 5000+ charities by 2025 generating over $750 million in transaction volume and more than $100 million per year in charitable giving by its members via the BarterPay It Forward Foundation®. Learn more at https://barterpay.ca/.