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CAN FUND - How Business Bartering Helped Finance Canadian Olympic Athletes
Hundreds of Toronto area companies are donating their barter profits and revenues to the Canadian Athletes Now (CAN Fund) which provided 80% of the financial support for the Canadian athletes that competed in Vancouver and London.
How the CAN Fund works with ITEX Toronto
Hundreds of Toronto area companies are donating their barter profits and revenues to the Canadian Athletes Now (CAN Fund) which provided 80% of the financial support for the Canadian athletes that competed in Vancouver and London. Currently the CAN Fund is working to support Olympic athletes heading to the next games in Sochi.
ITEX in Toronto (http://www.creativebarter.ca)
“I want to personally thank all the ITEX members who donated their ITEX dollars to CAN Fund this year,” said Conrad Leinemann, COO, CAN Fund - www.myCANFund.ca. “Instead of spending cash on infrastructure and business essentials like office equipment, printing, business supplies, etc. we are able to use donations to directly support our Canadian athletes. We want to thank the entire team at ITEX Toronto for being such an important part of our success. Go Canada Go!”
According to Michael Muzzin, President and CEO for ITEX in Toronto, “The CAN Fund has received over $46K in the last 3 years. With those donations they have purchased courier services, promotional items, Canadian flags and calling cards for athletes, catering services, computer technical support, gift baskets, security guard services, HVAC services, popcorn machine rentals, photocopiers, toner, printing, desserts, gift certificates, music equipment, banner signs, carpet cleaning, deck refinishing, flowers and more. The Toronto ITEX members continue to donate their ITEX dollar to help ensure success for Canada’s Olympic Program.”
For more information or to set up an interview, please contact Michael Muzzin at michael.muzzin@
For information about ITEX in Toronto, please visit http://www.creativebarter.ca/
Here is how ITEX in Toronto Works
A business “sells” their services and products and receives “ITEX dollars”. They then use the ITEX money to “buy” a wide range of products and services. This can include promotions, restaurant gift certificates, floral arrangements, artwork and gifts, travel & trips, sports and entertainment, car repair, business supplies and services, etc. In addition to being effective for local & regional business, an ITEX member can buy and sell with anyone on the ITEX network, anywhere in North America.
Why use barter for your business? According to Michael, “Barter increases your market share and brings in new business you would almost never get otherwise. Barter helps to conserve your cash. Barter members go out of their way to do business with you. Barter accelerates accounts receivable and Barter protects you from business recessions.”
More about ITEX
ITEX Corporation has helped tens of thousands of businesses generate new sales, conserve precious cash flow and increase profits. With our leading payment technology platform for processing cashless business transactions and our exclusive distribution channel, member businesses utilize our digital currency "ITEX dollars" to exchange goods and services, rather than use cash. ITEX Corporation is based in Bellevue, Washington, and has three corporate divisions. ITEX is a marketplace for B2B cashless transactions across North America with over 2000 businesses participating in the Southern California region. Nationally, ITEX processes more than $100 million a year in Gross Merchandise Value (GMV) across thousands of member businesses and 90+ franchisees and licensees.
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