There are news reports of people setting up tables at the end of their driveway to trade surplus of what they have for supplies from neighbors that they need.The impact of Covid19 is returning many to a Dark Ages barter economy, but Houston businesses, there is a barter option called ITEX. Chris Christiensen owns the Houston franchise, and says when the economy heads south, his business picks up. “Yes, it does. When the economy is depressed our business picks up,” he tells KTRH News.
Christiensen says he’s like a bank. He explains that ITEX is a business-to-business barter house: one business offers a service of value in exchange for credits to their account that they can spend at any participating member’s service. It’s a handy and legal way for cash-strapped companies to get by, meeting all IRS requirements to stay above board. “So let’s say the air-conditioning guy, who’s not busy now, provides a service to a member: the credits go into their account and they can spend it with the other 23,000 members anywhere.”
It’s popular among restaurants and other small businesses.
This is their video explaining the exchange.