The early days of man was very simple and was not as sophisticated as that of today. His needs were simple and the trade was direct. It involved exchange of goods for goods. This was popularly known as the barter system, which was common worldwide.
Barter, the exchange of goods and services without the use of money, is not a new idea, but over the past decade, this type of transaction has been transformed into a sophisticated business practice.
Why Barter System is Back in Style
Today, the barter industry is composed of several thousand independent barter exchanges representing an estimated 450,000 businesses worldwide turning over US$9 billion per annum (barternews.com, 9 July 2009). Through bartering, businesses in Asia, US, Australia and Europe have saved millions of dollars were consistently able to move as much extra inventory as they want.
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