smallbusiness.co.uk: Helping your business think big

It is well understood that starting and running a small business can be an uphill struggle. Even harder, can be trying to go it alone. There will be countless small companies in your area with which you could work for mutual benefit - not your competitors, but companies whose products or services complement your own.

Establishing working relationships with complementary businesses allows you to draw on each other’s resources and expertise, benefit from recommendations and referrals and make mutual use of each other’s contacts to increase your customer base.

First, you need to make sure that companies you approach are reputable and unlikely to harm your business, so it’s a good idea to meet with the business owner personally to get an idea of their ethos and working methods. Do they fit with your own? If they do, try to come to some sort of agreement. Maybe offer a discount to their clients if they send business your way and vice versa.

You could leave some business cards with the owner, take some from them and pass them on to your own clients. Remember, this is about give and take, so if you help them, they will be more likely to return the favour.