Business to Business (B2B)
You may have heard the term B2B thrown around, but do you know what it stands for and why it is important to a thriving business community?
Business to Business (B2B) predominantly refers to the exchange of goods or services between businesses, but it also encompasses connections and working relationships that help to build up and strengthen a business. This could look like:
Sourcing goods and products from local businesses or using local professional services. We often ask a town’s population to shop locally, but the same holds true for local businesses. Remember businesses are technically customers too!
Sharing advice, experience, and business tips. Many businesses in a community might be facing or have overcome similar challenges – so why not share the knowledge and watch everyone succeed?
Making contacts that can help build and expand your business. This might be through exchange of contacts, industry insight or collaboration
What are the benefits and how do we achieve them?
For business the benefits can be physical like increased profit or expanding customer base or it could be around personal development as a business owner. For towns the benefits can look like a resilient community in times of adversity, strong business growth that attracts tourists or people relocating to rural townships, and overall, it reduces economic leakage when businesses shop via local suppliers or use local professionals.
It might be overused, but the easiest way to achieve these outcomes is through networking. There really is no substitute for talking and making connections with other people in business. In large cities, the ability to network can be easily achieved by attending industry events, seminars, conferences, and workshops. In smaller regional communities the opportunities to build connections are often facilitated by industry groups and chambers.
What is GIBC currently doing to help facilitate B2B connections?
For us, the launch and ongoing operation of GIBC, is the first step to ensure opportunities for B2B connections. It may take some time to gain momentum (as many initiatives do) but is an essential first step in a small town. More specifically:
We host Member Meet-Ups every 6-8 weeks, which always includes time for mingling
Each meet up will have a ‘Bitesize Business’ segment to share upcoming projects or events members of the business community might want to apply for
We have a Members Only Facebook Community where GIBC or our members can post any business news, resources and opportunities between meet ups.
Host the Glen Innes Business Awards Night and using local vendors.
Send out a fortnightly Newsletter to the wider Business Community with an overview of what’s happening behind the scenes and coming up at GIBC.
We are looking into funding options to curate and run workshops for our members
What can you and your business do?
Networking is definitely a two-way street and to make B2B connections you need to actively meet and talk to others in the business community. This could be things like
Being prepared to share what your business does and what you want to achieve in future
Be willing to share and accept advice
Giving your contact details to someone who may be interested in your products or services
Look into using local suppliers and professional services
Become an active participant and take advantage of initiatives like the Members Only Facebook group and Member Meet Ups
In summary, B2B relationships are a two-way street. It can take time for these connections and relationships to build and prosper, but when they do it means success for everyone within the business community and Glen Innes Highlands as a whole. As GIBC gains momentum in the coming months and years we look forward to helping facilitate theses connections and provide as many opportunities as possible!