MEDIA RELEASE 7 May 2007
Local businesses benefit from barter through BBX
BBX has been embraced by businesses in Perth and WA with new barter concepts,
such as superannuation and financial services attracting strong interest.
The trade exchange uses its own currency (BBX dollars), which has the same value
as Australian currency, to assign value to the transactions that take place
between member businesses. In essence, the exchange acts as the third party
record keeper, similar to a bank, and provides a sophisticated bartering market
where thousands of transactions take place.
Doug Crockett, BBX WA State Manager, says business owners in Perth and WA
benefit greatly from the BBX network because BBX offers unique services such as
investment opportunities and interest free financing.
"Members in WA have really embraced the business and wealth generation that BBX
offers. We've diversified our services and there are now plenty of different
ways that people can spend and invest their money," Doug said.
"For example, within the NSX-listed BBX Property Fund, members can invest in
shares through superannuation and derive cash dividends from the fund.
"As well as these unique avenues to generate wealth, everyday trading using BBX
money inevitably lowers a business' overheads as members can purchase various
goods and services offered by other members without spending cash, thereby
improving cash flow and increasing profit," he said.
Malcolm Macleod, owner of Character Printing in Bentley, joined BBX two years
ago and has found the investment side of BBX the most beneficial for his
"My shares in the BBX Property Fund are a great long term investment. It means
that all the BBX money I earn can be invested straight into a self-managed super
fund without tying up cash," Malcolm said.
"I was a member of another trade exchange before BBX and I've found that, in
comparison, the BBX operational system is very professional with head office
being strict on prices, so you know you're trading at the usual cash price," he
Another local BBX member, Richard Scholes, owner of West Coast Water Filter Man
based in High Wycombe, joined BBX in mid 2006. He also has shares in the
property fund and is an active trader within the exchange.
"My experience has been that BBX members really understand barter and are easy
to deal with. I've generated a lot of business through BBX and have been able to
easily spend my BBX dollars on electrical work, painting and other essential
labour work as well as investing into a super fund," Richard said.
Doug Crockett says he is planning to expand the BBX WA network, which is
currently based in Perth.
"We aim to extend our local services to include BBX Financial Services and BBX
Real Estate so that we can support our membership base to the fullest, allowing
for further growth and success," Doug said.
BBX successfully listed on the ASX in August 2005 to become the only publicly
listed barter exchange managers in the world to be listed on a main board. It is
a membership based trading program whose primary role is to generate new
business for all types of businesses and to show business owners how to offset
many current cash expenses by utilising the down time or idle inventory in their
The company also offers a broader range of financial services in areas such as
mortgage broking via BBX Money, including leasing, business finance and general
loans in both cash and trade dollars, financial planning through their latest
initiative, BBX Financial Advisers, and property services through BBX Real
Estate and its NSX-listed BBX Property Investment Fund (www.bbxpropertyfund.com.au).
BBX has offices and/or franchises situated throughout Australia and operates in
both islands of New Zealand. Member businesses in these two countries traded in
excess of $146 million in the financial year ending 30 June 2006, averaging over
$33,000 per active member business.
Franchises have also been established in India and China, with other
international franchises currently being negotiated.
BBX can be contacted by phoning 1800 222 229 or visiting the website
www.ebbx.com. BBX Money can be contacted by
phoning 1300 200 BBX (1300 200 229).
Released for Business Barter Exchange (BBX) by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information please call Aleks Czerwinski or Teanne Ryan on (02) 9413