During an economic recession, some sectors actually flourish while others try to keep their heads above water.

The same can be said about trade exchange or the barter system. This sector quietly made its way during the late 1980s, early 1990s and around 2001 when employers either laid off staff, undertook cost-cutting measures, consolidated operations, or closed shutters permanently.

Companies and people began to join trade exchange groups that helped them to offset products and goods for services. Most of these companies take a service charge for each business exchange amongst their members, and this is done purely by networking among the growing number of members in each network.

These companies gather regularly to make the new members familiar with the existing ones and introduce them to exchange of goods and services.

Barter Card is one of the 600 companies that are currently active and spreading this sector throughout the world.

"We have a very strong network among members and our customer service officials first try to understand the needs of each of the new members that register with us and introduce them to the right people among the network to have a business exchange," explained Andrew Federowsky, managing director of Barter Card International.

"Barter Card started in Australia in 1991, when there was an economic slowdown and we flourished. People called us all sorts of things, but those who understood joined us and benefited from it. Our membership multiplied every month.

"Currently, we have 60,000 members globally, spread across 13 countries, managed from over 100 offices and this is increasing by the day.

"We opened our UAE operations a year ago and attracted 360 members in a year's time. We have opened operations in five countries in the Middle East and the membership is growing fast.

"We cater to mostly small and medium entrepreneurs who make up about 90 per cent of our customer base," he said.

Azmi Kawas, deputy managing director of Barter Card Emirates, said: "In the UAE, about 360 companies have already signed up, thus enjoying the flexibility of purchasing goods and services daily on trade, instead of paying cash. This means Barter Card will help members turn underutilised capacity into extra revenue".