BizXchange Opens Dubai International
Headquarters
BizX Trading,
the international division of U.S. based BizXchange, was officially
launched in Dubai marking the company‘s first foray into the Middle
East region. Since its founding in 2002 with 100 members, BizXchange
now has approximately 1100 members trading over $2.6 million each
month.
Plans are to
develop the overseas operation to become the company’s international
barter hub. With offices in Seattle and San Francisco and affiliates
in Singapore, Turkey, Malaysia, the United Kingdom and Australia,
BizX aims to create an international barter market in Dubai to
benefit its business partners around the world.
“The Middle
East region is very familiar with barter and the practice is still
very prevalent today on an immense scale,” reported Bob Bagga, CEO
of BizX.
“From the
outset, our business model was based on a concept of creating a
multilateral barter trade market where companies can exchange
products and services without having to dig into their cash
reserves,” he continued. “The philosophy has generated $150 million
in barter since 2004 and has saved our business partners $20 million
in 2006 alone.
“In the Middle
East we will focus our efforts on developing partnerships with
companies involved in real estate, media, travel and hospitality,
printing and any other business that has excess inventory or
capacity.”
“Our expertise
and barter exchange platform will help our business partners turn
any unutilized capacity or excess inventory from dead weight into
budgeted cash expenditures.”
In 2006,
BizXchange was named to the Fastest Growing Companies’ list in both
Washington and the San Francisco Bay Area. It also has been honored
with the U.S. Chamber of Commerce’s Blue Ribbon Business Award in
recognition of the company’s dedication to excellence in several
categories, and is only one of two barter companies in the world to
be certified by the International Reciprocal Trade Association (IRTA).
Driven by their
company’s core values to “do the right thing, be creative and
innovative, exceed expectations and have fun,” the firm strives to
serve, improve and grow its members’ businesses and make a
difference in its community. BizXchange places high value on
recruiting and promoting staff from within, and takes time to foster
a culture of fun and interaction among employees.
