At BBX, says Stephen Rodrigues, the mission is to dismantle the barriers to economic growth, and transform businesses
Scaling a business can be difficult. Summiting more challenging. But Stephen Rodrigues, from the helm of BBX, has done just that. The state manager and national sales director of BBX since 2012, Rodrigues says over the years, they have developed past the barter trade market into a business solutions provider. “Our platform provides business clients with the opportunity to grow, connect, network while saving valuable cash. Since 2012 our business has tripled in size and opportunities for our clients have strengthened through strategic partnerships,” he says.
BBX, established in 1993, services all kind of small, medium and large businesses with a focus on customer experience using digital credits as settlements for trade transactions. “The benefit of BBX is that it can service any size of business,” says Rodrigues, who adds that the company has operations in Australia, China, England, Ireland, Scotland, New Zealand, Malaysia, Singapore, Costa Rica, South Korea and Thailand.
The idea, says Rodrigues, is to build a world of economic opportunity for our community of businesses by dismantling the barriers to economic growth. “We believe in financial inclusion and work to transform and evolve commerce for businesses regardless of size.”
The Indian Sun gets Stephen Rodrigues in conversation about how BBX works
▪︎ Can a consumer become a member? Or is this only for small businesses?
The BBX system is B2B only, we provide specific opportunities for business growth.
▪︎ How does one set up an account?
They can visit www.bbxworld.com and book a demo where one of our friendly team will organise an appointment or they can sign up online directly at the same website.
BBX acts as a third party record keeper for the trusted digital credit known as the BBX Trade Credit. Its members use this trade credit to settle transactions on the platform. In doing so it allows the value of each item traded to have its worth recorded and upheld in a BBX trade credit account.
Therefore the advantages to the business owner, is that they can use this value with other members.
In the network, this assists them to manage cash flow and gains new clients.
The accounting unit used to settle trade transactions on the BBX Digital Trading Platform, recognised and accounted for in taxation reporting.
▪︎ What are the benefits of setting up a BBX account?
BBX is a solutions provider that helps businesses manage cash flow and gain new customers.
As a BBX member you have immediate access to suppliers that you can pay via our trade credit. BBX markets and sends new customers to your business to replenish your trade credit wallet. You are invited to our network events to build your business community. Our guest speakers educate and mentor your business into strong growth channels.
▪︎ How many members have you got across Australia? Can you break it down by states?
We have new businesses joining all the time on a regular basis, so, it is difficult to give an exact figure. But it is safe to say that we are growing steadily.
▪︎ What kind of businesses or sectors use BBX mostly?
Hospitality/Tourism 28%; Business Services 15%; Advertising 13%; Retail 12%; Builders and Trades 11%; Real Estate/Investments 9%; Auto 8%; and Wholesale 4%.
▪︎ How can one save money using BBX?
You can do this by using preferred suppliers through the BBX network and paying for goods using the BBX trade credit.
▪︎ Is there a monthly fee?
Yes. There is a small transaction fee and a admin fee that applies to every business that joins BBX.
▪︎ Any hidden costs?
No. All the fees and management charges are explained up front. So, They are no hidden costs.
Who is using BBX?
Approximately $2.7 million per month in cash saving by hospitality outlets by using BBX preferred suppliers; around 15,000 meals sold; 2,200 vacant hotel rooms filled each month
BBX markets and places approx. $1.2mil is advertising opportunities each month
BBX settles approx. 15,000 retail transactions per month
BBX places approx. 1,200 vehicles repairs per month
BBX connects over 700 suppliers per month with planned trading supply chains
▪︎ Business Services—15%
BBX settles approx. 3,100 business service related transaction, assisting our business owners save cash whilst increasing bottom line profits
▪︎ Builders and Trades—11%
The BBX builders and developers ecosystem creates reoccurring trading of approx. $1.7million per month whilst also servicing over 2,000 trades request stimulated within the BBX network
▪︎ Real Estate/Investments—9%
BBX markets around 100 properties per month and settles transactions involving $1million in real estate settlements per month