Eight Ways Small Businesses Can Support Each Other (While Also Marketing Each Other)

When you start a business, you not only become part of your local community, but you also join a network of local business owners. Being part of this business network means you can often find help among your fellow entrepreneurs and even lend a helping hand when others are in need. This can take the form of advice, but it can also take the form of partnerships where you support each other while marketing yours.

There are many ways to undertake a partnership like this, so business owners can choose the best solution for their situation. Below, eight members of the Young Entrepreneur Council share the methods they recommend for any business and why this type of partnership can be beneficial for both parties.

1. Recommend each other's services

Small businesses can form partnerships as simple as recommending each other's services. Anyone waiting for car repairs at your store? Recommend that they wait at your friend's restaurant. Create a place for advertising and promotions for both businesses. If your fellow business owner runs a venue or catering service, choose that for your company party. Focus on cultivating connections and relationships with as many local businesses as possible. Once you have established this, creative partnership plans can flow from it. It's about being the first to reach out in friendship. It's really worth it. While you can do it online in our age of remote working, it's nice to go locally. Take a walk around your city, find your fellow small business owners, and open the door to amazing possibilities. - Tyler Bray, TK Trailer Parts

2. Create a package offer

If appropriate to the type of business and offering, companies can collaborate to create a single package that brings their two products or services together to meet a new need. Especially in our world today, consumer needs are changing rapidly. You can partner with another business to deliver an offer that will appeal to both of your audiences as well as a whole new group of consumers. For example, you can contact a company that sells products or offers services that complement what you offer. Target businesses your current customers are likely to buy from based on their past purchases, interests, and needs. - Blair Thomas, eMerchantBroker

3. Leverage your content

One of the most effective ways for two or more small businesses to team up to help each other is to create content. But for this to work, their target audiences must be somewhat similar, if not completely identical. Building lists around topics relevant to your niche is a great way to promote the businesses you partner with. By mentioning these companies in your blogs, you not only present them as viable solutions to the public, but you also give them quality backlinks. This can give businesses a significant boost in reach and help them climb search rankings through combined efforts. - Stephanie Wells,