This is the news from WeTradeIt.com, an online community where small businesses trade products and services to other companies. It launched in September and in its first six weeks has registered more than 700 members that are exploring alternative business avenues.
The firm says that the biggest driving force behind member sign-ups is small businesses hoping to increase exposure to and open up new geographic and sector-specific markets. WeTradeIt.com, part of the wider Markerstudy Group, also features a business advice and forum section where members can share insights and best practice, in response to the demands of SMEs.
Nick Moore, managing director of We Trade It Ltd, said: “Businesses are having to become savvier in how they operate and generate revenue. We knew that there was a gap in the market for an online marketplace where businesses trade through a points system, rather than cash, and our early sign-up numbers have proved just that.
“On the whole, our members are small companies who trade within a 30 – 50 mile radius, so getting increased exposure to other businesses across the UK can make all the difference to their bottom line.
“It can often be a lonely place when running or setting up a business and relevant information and support is essential. Our members have really engaged with that area of the site, not only through accessing information but also offering their own expertise and support to other members.”
Handpicked Holidays, a Kent-based bespoke travel provider, joined WeTradeIt.com in October 2012. After hearing about WeTradeIt.com at a networking event, the family-owned business decided to sign up.
Catherine Gallagher, founder of Handpicked Holidays, said: “As we’re a small operation in terms of staff numbers it can be hard to have the time and resources to explore new business opportunities, so a marketplace like WeTradeIt.com is perfect for us.
“Not long after we joined, an events firm got in touch about a wedding fayre it was organising and we decided to use our points to exhibit. It ended up being really successful for us, in terms of sales and leads. What’s more, we hadn’t really considered the weddings and honeymoon sector before, so through the site we’ve been able to explore whole new markets.
“For any small business, but particularly in travel, a strong profile is key and through the support of WeTradeIt.com, we’re hoping to reap the rewards over the coming months.”
