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How to use partnerships to grow your business

Partnerships can be useful for businesses of all types and sizes – the trick is knowing which are the most valuable and how to start building connections.

14 Jun 2023 . 10 mins learning

Learn how to capitalise on the many opportunities of partnership. Watch and listen to the conversations you’ll find on this page with small business leaders about their own collaborative journeys.

With our experts’ help, we’ll look at the benefits and challenges of working with others. We’ll also share tried and tested tips on how to choose collaborators and where to find them.

Why are partnerships valuable and how do you build them?

By establishing relationships with other businesses, you could:

fill skills and knowledge gaps
increase your reach
make valuable contacts
gain access to valuable resources.

Watch this short video to understand more about the benefits of partnerships in business.

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How to create a successful partnership strategy

Boom Sauce, founded by Maryann Penfold, is a chilli sauce company based in Worth, West Sussex. Maryann partnered with a local bakery, as well as other Sussex retailers and hospitality businesses, to reach even more customers.

Watch our film with Maryann to see how she formed strategic alliances to grow her brand.

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How partnerships could help you grow

Dr Jackie Mulligan, founder of ShopAppy, created a service that encourages partnerships between groups in the community. It brings together independent shops, event organisations, town councils, trader groups and more. Listen to our podcast with Dr Mulligan here (18 mins).

More ways to build your business

For more insights on all sorts of business areas, visit the NatWest Business Insights hub.
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This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of NatWest Group, as of this date and are subject to change without notice. Copyright © NatWest Group. All rights reserved.

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