The small business owner is usually under capitalized. And when opening their doors they often use those high-interest personal credit cards to fund their start-up. But one of your goals should be to liquidate this credit card debt ASAP. By utilizing barter, through a trade exchange, you can achieve your goal.

The Federal Reserve’s recent interest rate cut will help many credit-card customers, as around 85% of all credit cards carry variable rates. (The half-percentage-point drop in rates should result in a savings of about $30 a month for the typical cardholder for every credit card debt of $7,000.)

However, the drop in credit card interest from the typical 18% to 19% down to 15% (a floor by most credit card companies below which their rates can’t fall) can be a trap of sorts, and unless your debt is managed prudently it could spell trouble down the road. Isn’t it wise to get off the roller-coaster? Put a plan in action to do so.

Eliminate all of this high credit card debt…through barter—acquiring needed products and services on trade and using the cash saved to pay off those onerous loans.

It’s times to sit down with a barter broker and do a barter audit on your situation…take out your check book and see where you are spending your money. Then ascertain how many of these cash expenses can be covered through the exchange on barter.

In addition to the suggestions above you may want to read some material on our website, here’s the link to the article titled, “Bartering can pay many business expenses.” See:
EXPENSES

See our site sponsors at the top of page for assistance. Or refer to right-hand column, scroll down to “Top Resources” for U.S. and global barter companies.

This entry was posted on Wednesday, September 19th, 2007 at 3:47 pm and is filed under Entrepreneurs & Small Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.