A business-to-business trading company has been set up to help companies struggling to get funding from banks.

Bartercard allows members to exchange goods and services to expand their business, protecting their cash reserves.

The company opened an office in Maidstone in September and appointed a new business development consultant based in Gillingham this month to gain new clients.

The firm aims to recruit 500 members over the next two years, with the Kent office the latest step in a five-year growth plan.

That plan also includes recruiting 200 new business development consultant franchises to sign up new firms, the latest of which is Gillingham’s Jonathan Woodley.

He said: “We want to provide businesses in Kent with the ability to expand their sales opportunities through business bartering while ensuring our members benefit from a continued excellence service.”

Bartercard UK chief executive Simon Barker said: “There’s a significant business case for bartering in the current climate, with banks not lending to small businesses and many firms watching their bank balances carefully.

“Since the recession hit in 2008, many SMEs have suffered dramatically, always on the look out for ways of improvement to stay afloat.

“Our new Kent office is the latest move to build the Bartercard presence in the UK and ensure SME’s realise the benefits of bartering.”

Bartercard is the world’s largest business-to-business trade exchange, working with more than over 55,000 cardholders across seven countries.