From skilled trades to professional services, the barter economy is alive and well, drawing on roots that pre-date the monetary system.
Greater Lansing's
Trade Network, Inc., focuses on barter interactions between small and medium sized businesses throughout mid-Michigan. The office moved in early summer from West Lansing to a new East Lansing location to accommodate growth and put a fresh perspective on the age-old business.
Located at 740 W. Lake Lansing Road in Harrison Crossings, Trade Network serves more than 1,200 members across the state, with about 600 in Greater Lansing. Founded by President Gary Kay in 1991, the company is part of a $12 billion a year national industry that involves an estimated 65 percent of Fortune 500 companies. Lansing area business owners have used Trade Network to exchange products and services ranging from restaurant food and beverage, employee incentive programs, auto repairs, furniture, home improvements, weddings, legal services, housing, automobiles and even a one-person helicopter.
"Lots of people already barter," says Kay. "They say, 'I'll do your plumbing if you do my roof.' But the problem with one-on-one is you have to have what each other wants."
Kay says that in a trade exchange, members have more options to exchange and barter for services. Staff work with members to facilitate exchanges, and keep track of the transactions for year-end tax and other recordkeeping.
"We work with members to trade big things and little things, products and services," says Kay. "Trade exchanges are everywhere. Lots of people don't have the cash, but they do have the service or product that can be turned into a currency."
Kay took the opportunity to upgrade software and networking capabilities with the new office. About 7 people work in the 2,200-square foot space.
"I actually traded for the space," laughs Kay. "It's all part of the economics of barter."
Source: Gary Kay, President, Trade Network, Inc.
Writer: Ann Kammerer, Development News Editor
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