The UK’s largest business-to-business trade exchange, Bartercard, has announced the launch of its latest brokerage in Milton Keynes to serve the needs of businesses across Buckinghamshire.
With over £4 million traded by Buckinghamshire businesses to date, the region represents fertile ground for business-to-business bartering which enables businesses to utilise their spare capacity, protect their cash flow and meet a group of like-minded peers to trade with through a well-established network of business entrepreneurs.
The new brokerage, based in Newport Pagnell in Milton Keynes, will support over 400 members already trading in the region, while the increased focus of trade consultants will see the brokerage look to double membership in the region over the next 12 months.
Jay Sparks, a long-serving Bartercard employee who joined the trade exchange in 2003, will be leading the team with the support of brokerage co-owner, Chris Kirby. Jay has extensive experience in business-to-business trading having previously owned the Devon & Cornwall brokerage as well as holding the role of Business Development Manager for the Home Counties.
Jay Sparks, Director for Bartercard Milton Keynes, commented: “We are delighted to set up the latest Bartercard office in Milton Keynes to build awareness and opportunities for businesses in the area looking to barter. With the experience Chris and I have, I feel that we’re in a unique position to support the needs of the business community and we’re excited to successfully establish Bartercard Milton Keynes as the most successful UK office.”
The continuing success and growth of bartering in the region is the result of the number of businesses seeking alternate sources of finance and ways to grow their networks during the economic downturn, as bank lending continues to fail to match rising business confidence.
Barter trade has already accounted for more than £500 million in the UK and with the opening of the new office in Milton Keynes, this looks set to continue expanding in the near future. Bartercard UK sailed past the half-billion mark in late August 2014, when a motorhome rental company purchased a tank driving team building event marking the T£500 million bartered transaction
The Milton Keynes operation is part of Bartercard’s 10-year growth plan, which includes 30 new franchise and 10,000 members to help grow and facilitate trading across the UK and Ireland.
Bartercard UK CEO Phillip Cinigilio explains: “There’s a significant business case for bartering in the current climate, with banks not lending to small businesses and many firms watching their bank balances carefully. We’re delighted that Jay has taken on this new role to help build our presence in the UK and ensure future SMEs in Buckinghamshire can realise the benefits of bartering.”