The Importance of Supporting Other Small Businesses

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I’m going to take a wild guess and say that most of Courier Magazine’s readers own or work at a small business. So, I don’t have to tell any of you how important small businesses are! But did you know that small businesses tend to thrive more and find continued success when they work together?

In the article, “6 Ways Small Businesses Can Band Togetherfor Better Results,” on Mashable.com, Nellie Akalp, CEO of CorpNet.com, a filing service, said that it’s becoming increasingly difficult for small businesses to access business capital and credit over the recently past years.

Akalp said it’s important for small businesses to work together to compete with larger companies. Although it might be difficult to see other small businesses as partners and not competitors it’s essential. According to Akalp, small business owners should: 

• Seek out symbiotic and collaborative relationships with other small businesses.
• Build a collective co-op of similar businesses and individuals.

Akalp said the business owners can easily meet other like-minded company owners by:

Joining a local meetup group for entrepreneurs: Finding new business is all about finding referrals and connections. Join local groups that meet weekly, or monthly at local cafés, or restaurants. Akalp suggests checking Meetup.com, or your local chamber of commerce for groups.

Organizing a social media meetup: Get all your social media followers together and organize an in-person meetup.

Getting online: I know I just suggested that’s it’s important to get out from behind the computer and meet your contacts in person, but connecting with other small business owners online can be helpful, too. Akalp suggests browsing online communities, such as Entrepreneur Connect.

Reaching out to other types of small businesses: Even though not all small businesses may be similar to your company, you can still help other companies learn how to increase exposure. “By giving business to others, you will get business in return,” Akalp said.

Supporting other small businesses at your own company: See if you can use other local businesses to help provide your marketing materials, or serve a local coffee blend in your break room.