oboloo

oboloo Glossary

Barter 

oboloo Glossary

Barter 

Barter 

Bartering is an age-old practice of exchanging goods or services for other goods or services without the use of money. Typically, both parties involved in the trade are satisfied with what they receive. In recent years, however, bartering has made a comeback as more and more people look for ways to save money.

For businesses, bartering can be a great way to procure goods and services that they may not be able to afford otherwise. For example, a small business owner may trade advertising space with another business owner in exchange for office supplies. Bartering can also be used to get around budget restrictions or to obtain items that are not available for purchase.

Individuals can also benefit from bartering. For instance, you may have a service that you can offer in exchange for someone doing your grocery shopping for you. Or, if you’re a artist, you may trade your paintings for guitar lessons. The possibilities are endless!

If you’re interested in bartering, there are a few things to keep in mind. First, it’s important to find someone who is willing to trade with you. Second, make sure that both parties agree on the terms of the trade before any exchanged takes place.

Want to find out more about procurement?

Access more blogs, articles and FAQ's relating to procurement

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

Oboloo transparent

The smarter way to have full visibility & control of your suppliers

Contact

Feel free to contact us here. Our support team will get back to you as soon as possible

© 2024 oboloo Limited. All rights reserved. Republication or redistribution of oboloo content, including by framing or similar means, is prohibited without the prior written consent of oboloo Limited. oboloo, Be Supplier Smart and the oboloo logo are registered trademarks of oboloo Limited and its affiliated companies. Trademark numbers: UK00003466421 & UK00003575938 Company Number 12420854. ICO Reference Number: ZA764971