By Vikas Vij — Small to medium sized enterprises (SMEs) are typically defined as a business with fewer than 250 employees, and an annual turnover below 50 million euro. In most of the world economies, SMEs comprise nearly 99 percent of all businesses and between three quarters of the value added, making a key contribution to job generation.
Bartercard, the operator of the world’s largest trade exchange, provides one of the most innovative business tools to help SMEs conduct cashless transactions. The company has now announced the launch of Bartercard France, their new master franchise for Europe.
Bartercard enables businesses to win new clients, expand distribution channels, and improve cash flow. With the new master franchise, the company will be able to create additional opportunities within France. Philip Ciniglio, CEO of Bartercard Europe, said that with more than three million SMEs currently operating in the country, and with a population of 65 million, France will be an asset to the global stock exchange.
Bartercard’s global network of like-minded businesses allows SMEs to gain access to a large potential customer database and help them to grow or to utilize spare capacity. France has become the second trade exchange set up in Europe by Bartercard and the ninth exchange globally. With 75 offices trading worldwide, Bartercard France signals the company's intentions to work more extensively within Europe.
Since 1991, Bartercard has worked to revolutionize the way businesses manage their cash flow. By operating as a trade exchange that allows SMEs to gain benefits from the cash-free economy of barter, the business has grown to having over 50,000 cardholders who barter-trade over a quarter of a million pounds every year.