Type Private Company Products Financial services | Founded 2006 | |
 | ||
Industry Barter & Alternative currency Headquarters Winter Park, Florida, United States Key people G. Jason Bergenske,
President & CEO | ||
The Barter Network is a commercial trading network of companies in the United States founded in 2006 by Bergenske Enterprises, Inc. of which G. Jason Bergenske, President and CEO owns 100% of the corporation's shares. The Barter Network has grown to over 700 companies. These companies trade among each other using a medium of exchange called a trade dollar.
Contents
Operation
Upon joining the TBN network, members agree to accept TBN Trade Dollars, instead of USD legal tender, when they sell to another TBN member. The trade dollars are electronically (via telephone or internet) transferred by the seller from the buyer’s trade dollar account. TBN members also agree to sell their goods and services on par with their cash everyday selling price.
History
The Barter Network originally opened its doors in 2006 in Sanford, Florida just outside Orlando. In November 2007 they outgrew their offices and moved to Winter Park, Florida.
Corporate governance
Growth
Their trade volume for 2006 was $786K
Their trade volume for 2007 was $1.06 million in 2007.
Their trade volume for 2008 was $1.8 million, an increase of 58% over $1.06 million in 2007.
Their trade volume for 2009 was $2.7 million
Their trade volume for 2010 was $4.2 million
Media Interests
NEWS ARTICLE: A bartering boom has hit Central Florida as Orlando-area businesses try to survive in today's economy using The Barter Network system.
ON TELEVISION: A bartering boom has hit Central Florida as Orlando-area businesses try to survive in today's economy using The Barter Network system.
Tax implications
In the United States, it is generally not possible to avoid income taxes by bartering one's services. According to the IRS, "The fair market value of goods and services exchanged must be included in the income of both parties." The barter in many cases must be reported on Form 1099-B and Schedule C.