"We achieved Bt380 million in total trade value using our barter system in the first five months of the year, and we have gained 60-70 new members every month," said Graham Brain, managing director of Bartercard (Thailand).

Brain said the Australian franchisor had 200 offices in 18 countries, and more than 100,000 customers using its service.

"In Thailand, we have franchised the Bartercard system to local offices in Bang Na, Soi Thonglor, Lat Phrao, Pattaya and Phuket. We are also looking to open a franchised office in Chiang Mai in the near future," he said.

He said Bartercard offered "forward-looking, win-win business situations" in terms of cash flow, turnover and locating potential business opportunities.

Member businesses can trade freely with other members through the barter system using trade credits. One trade credit - a so-called 'Trade Baht' - is equivalent to Bt1 in cash. The system enables members to improve cash flow and reduce business costs, said Brain.

 "We have enjoyed growth of 25 per cent annually over the past three to four years despite the economic difficulties in the country," he said, adding that the only limitation the firm faced was to get the local business community to understand what Bartercard can offer it and how it works.

Kwanchai Rungfapaisarn

The Nation