Slow economic growth means larger numbers for Trade Exchange

KELOWNA, BC January 27, 2011 – Trade Exchange Canada (TEC) (Okanagan) announces that it has surpassed the $3M mark for trading in 2010.

TEC operates out of Kelowna, BC and includes a membership of about 300 businesses who utilize their capacity for new or extra business to earn the currency of their fellow traders, Trade Dollars (T$).

With the economy moving slowly in the direction of recovery, business owners are taking advantage of this avenue to attract new clients and offset some of their cash expenses. Owners ideally use their downtime or excess inventory to accommodate the needs of their fellow members (in most cases, new clients). Exchange members find that they’re often working with clients or businesses that they would not be working with otherwise, helping to build their word of mouth marketing and encourage loyalty among their clients acquired through a trade exchange.

Business owners can essentially use their wholesale costs to purchase goods and services that they otherwise would be spending cash on or not using at all. The use of T$ is not exclusive to businesses. TEC also works with non-profit organizations that accept donations in the form of this currency and then utilize those dollars to benefit their own programs.

TEC Okanagan is enjoying the growing acceptance of trade in the local Okanagan market. “We’ve seen steady growth in the Exchange since the economy slowed, but lately, we’ve seen the level of enthusiasm coming from our members start to soar. There seems to be an air of pride among them, which means they get how smart it is to use trade to grow their businesses and they want people to know where they stand” said Des Regier, owner of TEC Okanagan. It would certainly seem that there is some pride and enthusiasm going on amongst traders in the Okanagan.

TEC Okanagan projected $2.3M in trade volume (the total amount of T$ exchanged among members) for 2011, but had already surpassed $3M by the middle of December. It’s important to realize that this number excludes both the business that was done between members where cash was the currency or that involved one of the non-profit organizations who use T$.

If you’re interested in learning more about how trade might benefit your business, you can reach Trade Exchange Canada at 250-717-0026.

Floodlight is proud to be a Trade Exchange member.