The Importance of Small Businesses

Small businesses working together can create something special.

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As a business owner, providing assistance to other businesses should be natural to us, but more often than not businesses are put in competition with one another. The temptation to not help one another due to worrying that you’ll lose out on business for yourself can be hard. However, the opposite of this is true – if businesses work together, especially small businesses, they can gain a lot more than they lose.

Tyck tries to partner or assist other businesses as much as possible. One example of this is our relationship with Ignition Collective, a full-service marketing agency. We worked with Ignition Collective to build Tyck’s website and have had a great relationship ever since. Here’s a note from Ignition on businesses helping one another:

“Since meeting Matty at Tyck in 2018, we can happily say that our relationship has developed beyond a business and client. After building the Tyck website we have been contacted by other businesses after recommendations by Matty, which has been really gratifying. We, in turn, recommend Matty and Tyck whenever someone is looking for additional business support, and feel very comfortable in doing so. 

When businesses work together and develop a supportive relationship, there is so much more to gain. Recommending someone else is not losing business yourself; if anything it reflects well on your business that you have reliable contacts to recommend and you know they will deliver for your acquaintance.”

Here are some of the benefits and examples that I have seen and experienced in providing assistance to one another:

Highlighting new opportunities for growth

Although an opportunity may present itself to you it might not be particularly relevant to your business at that moment in time. However, instead of just disregarding this opportunity, take a minute to think about how it could benefit another business owner that you know.

Opportunities may arise for careers, business contracts, endorsements, and recognition which may be just the thing that someone else has been waiting for. Not only is this morally gratifying, but the favour may well be returned to your business one day.

Making introductions

Sometimes all you need is an introduction to the right person. It is crucial in business to keep details of everyone you meet, whether at a networking event or a potential client or business partner. In doing so, you will be able to build up a solid contact list across a wide range of industries should you ever require support.

You can also use this contact list to help other businesses. For example, you may be approached for your input, but should you find yourself unable to help for whatever reason, one of your contacts might be able to step in in your place. An introduction takes only a minute but could be what a small business needs to get their next client, whilst also developing your business relationship – further reiterating the point above.

Volunteering and providing feedback

Especially when dealing with small or new businesses, be aware that although they may not be able to pay a full fee, your time may be of more value to the business owner than monetary value alone.

Once you have agreed to undertake the task, you should ensure that you are genuinely involved and demonstrate your desire to help. In demonstrating your interest you are able to provide genuine feedback that may assist in providing solutions to issues the business never knew existed, which helps them grow, learn, and improve themselves for future clients. 

Promoting and recognising

Gaining recognition or awards is one of the easiest ways for a new or small business to gain trust and validity from potential clients. Wherever possible and relevant, try and recommend another business owner if you think their services could be of use to someone you know. Alternatively, if you notice an award that would benefit another business then recommend them for it, or at the very least make them aware of it so they can apply.

Your recognition will likely mean the world to another business owner, and you will be promoting a skill, quality, or product that others can learn, grow or benefit from in one way or another. This ultimately contributes to the growth of your industry or sector and which will ultimately benefit you.

Businesses require a successful community or industry that creates a demand for their services within a supportive environment. Good business owners also tend to be leaders in their business community. In providing assistance to other businesses we are actually assisting ourselves. So what is there to worry about?!

Get in touch with us to see if we could help accelerate your business to the next level.