Lisbon, Portugal - May 1, 2021 At a time when many thousands of small and medium enterprises across Europe are fighting for their survival, many are turning to barter to increase revenue, mobilize idle capacity, and access a network with which to trade and work together.
Barter trade, also often referred to as counter trade or reciprocal trade, is a form of exchange between businesses that uses an internal currency for record-keeping purposes which equal to the currency of the economy. This currency can transact just like other currencies using regular payment terminals, and is legal and is regulated and taxable for trade between businesses in Europe.
Bartercard International, founded in Australia in 1991, has licensees in several countries worldwide, including Australia, United Kingdom, New Zealand, Dubai and Thailand.
Bartercard Continental Europe holds the 40-country Master License for Europe and is in talks with companies, business associations and entrepreneurs in several countries in Europe to launch Bartercard operations in their countries.
Bartercard Europe is headquartered in Lisbon, Portugal, an emerging innovation and technology hub in southern Europe which hosts Europe’s largest tech conference, the Web Summit, each year.
“We chose the date of May 1st for our launch as it signifies a time of survival from the winter, of the rebirth of spring, and coming to the rescue of thousands of businesses across Europe that are crying out for help as they fight to survive the economic impacts of the pandemic and the policy responses which have left thousands of businesses closed or idle. We hear them calling out, ‘Mayday, Mayday’ and we are responding”, says Sergio Lopo, CEO and Managing Director of Bartercard Europe.
The management team of Bartercard Continental Europe are all seasoned professionals from different parts of Europe and North America, with backgrounds in trade finance and insurance, in media and communications, and in supporting small and medium enterprises by aggregating them into a scale which gives them access to services that are normally reserved only for large companies.
Although barter companies are not new to Europe, they are much less common here than they are in North America, where there are dozens of companies providing barter exchange services across the continent.
“As barter companies in Europe arose during the Great Depression, we see them coming again as the economy declines. Barter is counter-cyclical in nature, meaning when the economy goes into decline, businesses start trading their goods and services more directly with each other”, Sergio Lopo continued.