Networking – The Way of the Future

To many observers, networking is the way of the future for small to medium-sized businesses. Essentially a network is a group of enterprises pooling their talents and resources to get results that otherwise would be impossible.

The Benefits to business:
 Sharing the enormous amount of expertise now required to survive in business
 Overcoming common problems of limited resources, limited skills, limited capital base and overall insufficient critical management skills
 Gaining access to a repository of knowledge in relation to markets and other suppliers and their products
 Overcoming barriers for growth through lack of financial resources and marketing expertise
 Accessing new markets, customers and suppliers
 Increasing muscle from their combined strength, ensuring they can continue to compete in the future
 Overcoming the difficulties of insufficient size – while successful in their own right, many SMEs are too small to be competitive head-on with major companies
 Providing a scale of economy or buying power and offering a broader range of financial and human resources with which to expand their businesses
 Producing individual items and services that, when put together, create a product that none of the members could have produced on their own

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