How can small business expand via online networking?

Finding a way to expand your business then look out for online networking portals as they are the fastest way to grow.
  • BY Akshay Arora

    Feature Writer, BusinessEx

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  • Dec 26,2017
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  • 10 Mins Read

In India, small businesses have created their own ecosystem in which they operate but only a few ones can expand their business. The key to expansion is network, the bigger and reliable network you have, the better chances you have to expand your business. As small businesses operate in a confined areas generally find it difficult to expand their business. This is the common problem in most of the small businesses in India.

The enhancement of digitisation among business ecosystem has surely made a difference in resolving basic issues of small businesses. The online networking portals like BusinessEx helps a business in building connections with some essential business associates like investors who help in raise funding, mentors who guide a business, incubators who support in business functioning, lenders who provide debt financing, brokers to carry out business deals, and buyers to sell your business.

These networks are everything that a small business requires to expand its operations. These platforms are emerging as the best source of expansion for businesses. The small business servicing in this environment has the potential to expand besides the hindrances due to tough competition. Let’s see how small businesses benefit from online networking portals like BusinessEx.

Build Connections

The primary objective of an online networking portal is to provide a space where two parties can meet and build their connection. The general problem that small businesses face is that they don’t have proper connections on which they can rely on. The online networking platforms help businesses in building their connections for expansion purposes.   

Financing

These networking portals are the source of financing as they provide a medium through which business can network with investors, lenders and incubators to raise financing. The lack of finance is another problem which hinders small business growth prospects. It is not an easy task to raise funding for small business as they are not innovative like startups but these platforms help them overcome this challenge by providing a common platform for all to make deals.

Sell/Buy

Some entrepreneurs plan to sell their business idea so that they can expand but they are unable to find the reliable source from which they could get the best price and meet the right buyer. These platforms help a business to expand via franchising. You can list your business on the platform and buyers will connect with you.

Also, a business can expand by buying another business which will add to its existing business which is also known as inorganic growth. If you wish to sell or buy a business then these portals are the best sources available.

Partnership

Entrepreneurs of small businesses find it hard to expand their business after some time as they are unable to manage things accordingly so the solution to this is seeking joint venture or partnership with another business. This is the best way to expand the business as there is the distribution of risk and responsibility. Online networking portals help a business in finding the right partner so that they could expand their business mutually.

Conclusion

Online networking platforms have become the simplest way of growth for small businesses. A platform like BusinessEx helps entrepreneurs in building networking expanding the business. If you are looking for a network or buyer or seller of business then register on Business Exchange platform.

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