Why should we network? Five benefits of networking for small businesses

Written by: WEB | on: 27/09/2022

Why should we network?

Particularly in small business, networking, establishing relationships, and making connections is essential. It takes a lot of time and effort to build a successful business, so

Here are five benefits of networking for small businesses:

1. Shared knowledge

Sharing knowledge and ideas through networking is a terrific idea. It will help you increase your knowledge and provide you the opportunity to view things from many perspectives, whether you’re seeking criticism or debating your point of view.

Within a group, there will probably be people who have been in your position before as well. This gives you the chance to learn from their mistakes and prevent them from happening to you.

2. Opportunities 

It makes sense that networking would lead to opportunities. You won’t be able to predict when or how they will manifest, though. It’s critical to be prepared to take advantage of opportunities when they arise, whether it’s a referral, partnership offer, or request for your service or product.

3. Connections

Keep in mind that by developing relationships with the people in the room, you are also getting exposure to their network. If you have left a good impression and their friend has a need that matches what you offer, you will probably get a referral.

Also keep in mind that it’s a two-way street. Share contact information if someone in your network is a fit for a company you meet at an event. It will only make your bond stronger.

4. Increased confidence

Regular networking and pushing yourself to strike up conversations with strangers will help you gain more confidence. As a business owner, you need to have this skill because networking and conversation are essential to growing your company.

5. Raising your profile

A significant advantage of networking is becoming noticeable and visible. People will start to recognise you if you attend social and professional gatherings frequently. By giving advice or information to those in need, you might enhance your reputation as a knowledgeable, trustworthy, and helpful person. Additionally, since you will be the first to come to mind when they require what you provide, you are more likely to receive additional leads and referrals.

We run two monthly networking meetings in Wheathampstead – one at breakfast and one at lunch – and they only cost £5 for members! (£10 for non- members).

Find out more about our monthly networking meetings