Trade is the world’s oldest form of commerce, but in today’s capitalist society, it has taken a back seat to the monetary system of exchange.
But in Portland, thanks to The Trade Exchange, barter is back, and it’s better than ever.
Located on Center Street in Portland, The Trade Exchange acts as a bartering middleman, facilitating trade between area businesses by setting up a credit-based system through which members can exchange goods and services.
“It’s great for small businesses with excess inventory or anyone with a product or service that has perceived value,” explains Natalie Ladd, the sales and marketing manager at the Trade Exchange.
Photographers, massage therapists, nail technicians, web designers and coffee shops can all benefit from the Trade Exchange.
Restaurants can stimulate business during slow meal times, like lunch, by trading lunch gift certificates for other useful services like carpet cleaning.
To become a member takes investing $500 worth of your particular product or service into the trade pool; once a member, you can then pull $500 worth of goods and services from the pool.
This pool feature is what makes the Trade Exchange so useful – instead of trading with just one person, a member can choose what they want from a directory of goods and services.
The directory is like a catalogue of member businesses, including a wide array of services and businesses like D. Cole Jewelers, Bingas Wingas and the Eastland Park Hotel; dry cleaners, law firms, local auto mechanics, and karate classes.
Even funk/rock band Color Blind can be found in the directory, offering live music.
Established in 1977, Trade Exchange was established as a way to facilitate large-scale trade between local businesses and groups.
According to their website, barter accounts for $29 billion in sales annually worldwide, and is growing at a rate of 15 percent per year.
The exchange currently has more than 300 member businesses in the area.
Upon joining Trade Exchange, members are given a “trade card” that works like a credit card, allowing them to make purchases at any member merchant, and deducting the cost from their line of invested credit.
The Trade Exchange is not a non-profit organization. While there is no fee paid to the company to enroll in the program, an annual due of $195 trade dollars is required, as well as a 12 percent commission on all trades.
In this way, the group says it can “generate new business for clients of our exchange network.”
There is also a showroom that members can shop in which carries everything from jewelry to Red Sox and Patriots gear.
“We have something for everyone in here,” says Ladd as she holds up a solid oak, moose adorned toilet seat “It’s like that saying, there’s an ass for every seat!”
Does your business, band, or student group have services you might trade? Check out www.thetradeex.change.com or call Natalie Ladd at 800-734-0734. The Free Press joined in April after covering this story.