What is the term for exchanging services with a local business?

The term "service trade" specifically refers to the practice of exchanging services between parties, often involving local businesses. This exchange allows each party to benefit from the skills or services offered by the other without a monetary transaction. It is a practical way for businesses to collaborate and fulfill needs they may otherwise have to pay for in cash.

In this context, service trade highlights the direct exchange of value in the form of services, which is distinct from broader concepts like collaboration, partnership, or networking. Collaboration generally involves working together on a common project, partnership may imply a formal business relationship often involving shared ownership, and networking focuses on building relationships for mutual benefit rather than direct exchanges of services. Thus, "service trade" is the most precise term for the scenario described in the question.