Abstract
Purpose- Today, growing commercial and financial integration between countries with globalization leads to intense competition and global economic crises. Due to these developments, the companies have some difficulties carrying on their business and managing the crises with traditional marketing and financing techniques. So they are turning alternative methods. One of them is barter system meaning buying and selling goods and services without using money. Barter is an innovated form of exchange system used as a trading method since the early ages. Barter offers companies various benefits such as moving inventory, utilizing idle capacity, increasing sales, supplying interest-free credit, debt configuration, foreign trade facilitation. The aim of this study is to examine barter from trade and financial aspects and investigate the use of barter in businesses as a way to overcome economic crises. Methodology- In the study, firstly the types and effects of economic crisis, then the development, types, benefits and difficulties of barter instrument were examined. Afterwards, the examples of retail, corporate and international barter transactions were given, and the contribution of barter to the enterprises in times of economic crisis was revealed. Findings- It was determined that barter can contribute the basic business functions of supply, production and marketing. It’s an innovative alternative to traditional mentality based on interest. Barter can contribute to the country's economy by relaxing companies even in times of crisis. Besides, barter industry has not well recognized, institutionalized and become widespread enough in Turkey yet. Conclusion- Barter is an effective way for businesses to sustain their long-term presence. Therefore companies should use it to formulate their strategies at all level and crisis management plans. It is seen that legal regulations are needed for barter system to function properly.
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