VITX Membership, what does it bring to my business? Becoming a VITX member brings more available cash flow, new customers, new advertising opportunities and new business partners. By helping you leverage excess services and inventory that you already provide and turning them into valuable trade dollars, we free up your cash for other expenses. Weekly newsletters highlight new and existing members with featured items for trade, the audience for this is a captive membership eager to pay Trade Dollars for your products. Bringing new business to our members by newsletter, website and broker driven trades, we introduce businesses to clients they otherwise may never have had an opportunity to work together.
How do I get full value for my services and product by using barter? By trading your goods and services at full retail price you receive Trade Dollars equal to what you would receive in a cash transaction. These Trade Dollars can then be spent within the VITX network to purchase many products that your company would otherwise have to pay for with cash. With a growing base of businesses from Greater Victoria that is expanding to the rest of the island and beyond, you can rest assured that there will be many ways to invest your Trade Dollars in purchases for your business, health and entertainment.
Do I get around taxes by trading? No, by using a Trade Exchange you are benefitting from a powerful marketing tool, not a a tax dodging scheme. A purchase made with Trade has the exact same taxes charged and submitted as a cash transaction. All trades are recorded and a monthly statement is provided to all members. Taxes for goods and services are to be submitted to the selling Member by the buying Member when the goods change hands.
Why would I Trade rather than using cash?
VITX is a network that brings new business and opportunities to companies with any excess inventory or downtime. Trade Dollars are not designed to replace cash, they are designed to allow your company to preserve its available cash by trading currently un-used inventory or downtime for items that you need.
What is available for Trade?The online Trading Post that is available to members has a searchable database of all currently listed items for trade in our network. Hot Items showcase postings with limited quantities or time sensitive limitations, and New items are each given their time in our "What's new" area.
Once I am a member, how do I make trades? Your username and password provided by our online portal sign up system allows for complete access to the online Trading Post and e-Authorization centre. Once the buyer and seller have confirmed items and intent to purchase, just log on, fill in the requested data and press go! The transaction is made, both parties are notified and the exchange is stored in our accounting system. If any issues arise, all transactions (including fees) can be reviewed and reversed or altered so that all members are satisfied with the exchange.