Learning through networking with others

Benefits of networking

For a start-up or small business, networking can provide a lifeline of support and business generation.

Networking can help you improve your business performance, products and staff skills. It provides opportunities for you to develop your knowledge and skills, boost your business' reputation, gather new leads, and access information and support. The extent to which you benefit will depend on the events and services the network partnership offers and how actively you become involved.

Knowledge and skills acquisition

• Participate in benchmarking opportunities to help you identify areas where you can improve your business performance.
• Establish staff exchanges and secondments. For example, an outside expert may join your business to oversee a specific project or you may second a graduate joiner to a supplier to learn about the supply process.
• Benefit from economies of scale by involving employees in joint skills development programmes for staff in your business sector.

Business credibility

Raise your business profile by becoming an established and regular networking member, getting your face and the business name known.

Business leads

• Meet new people and build mutually beneficial business relationships.
• Expand your markets by generating new business contacts with potential customers, suppliers and partners.
• Establish overseas partnerships, eg through international exhibitions and conferences.

General information and support

• Compare and discuss issues of common interest, eg legal and regulatory developments, staff retention, supplier networks, customer service and computerisation.
• Develop and share ideas, innovation and knowledge of best practice.

Some businesses are reluctant to seek advice or get help for fear of being embarrassed or giving a competitor an opportunity to take advantage. However, for most businesses, the benefits of taking an active role in a network usually outweigh any potential concerns or reasons not to network.

Subjects covered in this guide

• Introduction
• How networking works
• Benefits of networking
• Different kinds of network
• Finding network partners
• Be an active participant in networks
• International networks
• Here's how networking locally improved my business

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