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The Importance of Networking

Sometimes, it’s not who you know but who you DON’T know that can be the difference between business success and failure. There are few, if any, more effective marketing tactics than networking to accelerate and sustain growth for businesses, no matter what shape or size they may be.

Networking is part of an experienced business owners daily activities, probably carried out each day of every week at every available opportunity. It doesn’t matter whether they’re the owner of a fledgling business or an established conglomerate, networking is done by everyone, everywhere, in business.

Not only does networking bring great benefits and a unique form of education, it can also be fun. Below is a list of reasons why networking should be at the top of your business growth tactics list:


1. It helps you share knowledge

No activity is more effective in helping you to exchange ideas and knowledge than networking. Whether you’re benefitting from education into areas you weren’t up to scratch on, receiving feedback, or indeed passing on your own opinions, networking helps you to build your knowledge base and experience a new perspective on a variety of matters.


2. It helps you avoid common pitfalls

When networking it is more than likely that you will interact with individuals or groups of people who have been in your shoes and people who have been where you are today with their business journey still firmly ahead of them. Therefore, this provides you with an excellent chance to learn what they did right and what they didn’t do so well, enabling you to avoid these hurdles and make your path to success run as smooth as possible.


3. It helps you grab new opportunities

One of the biggest attractions of regular networking is the opportunities that come with it. Whether you’re talking to an owner of a young business who’s seeking potential investment or an experienced director offering you the chance of a partnership, making connections from networking brings with it a wealth of possibilities.


4. It helps you build your reputation

Actively connecting with a variety of businesses will allow you to get noticed and raise your profile. Regularly attending business and social functions will help you to boost your reputation as being the astute and knowledgeable business person that you are.


5. It helps increase your confidence

By talking to people you don’t know, you will boost your confidence and enhance your skill as a business owner. As you build your confidence, your business is only likely to benefit from your new connections. What’s more, regularly networking may improve your ability to talk to people outside of the business environment, and your new found skill in conversation could bring you boundless new experiences and opportunities.


Learn with Start Up Loans and help get your business off the ground

Thinking of starting a business? Check out our free online courses in partnership with the Open University on being an entrepreneur.

Our free  Learn with Start Up Loans courses opens in new window include:

Plus free courses on finance and accounting, project management, and leadership.


Reference to any organisation, business and event on this page does not constitute an endorsement or recommendation from the British Business Bank or the UK Government. Whilst we make reasonable efforts to keep the information on this page up to date, we do not guarantee or warrant (implied or otherwise) that it is current, accurate or complete. The information is intended for general information purposes only and does not take into account your personal situation, nor does it constitute legal, financial, tax or other professional advice. You should always consider whether the information is applicable to your particular circumstances and, where appropriate, seek professional or specialist advice or support.

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