Is barter the future of small business?

Nov 24, 2008

Not long ago, the New York Times had an article about how the current economic climate is increasing barter transactions. When cash is short, it may be the best way to ge the goods and services you need--or to keep working even when clients are cash poor. Of course, bartering is nothing new (it's older than money, after all). Residents of Ithaca, New York have had a local barter economy, accumulating and spending Ithaca Hours, since 1991. And while lots of companies arrange barters online for a fee, you can always dip your toe in the waters using Craigslist. You can also use our Gigs board to find someone who has the skill you need. One thing to remember: when you barter, you have to report the value of the goods or services you receive to the IRS as income. If you've had experience with barter--whether good or bad--feel free to share it in the comments.