THE benefits of partnerships are reaped not only by small and medium enterprises (SMEs) but also by larger organizations. When an SME is able to scale up and become more sustainable, opportunities for the larger organization such as expanding its market reach or building new capabilities arise. In other words, it's potentially a win-win situation for both parties involved. Large organizations do get a lot of benefits from partnerships, but for SMEs, they can be the key to success.
SME partnerships are not a new concept, in fact, they have been around for quite some time. What's changed is the way partnerships are structured and the way they operate. In the past, partnerships were often seen as two businesses coming together to simply share resources or to fill a particular gap in the market. However, modern partnerships are much more strategic and focused on creating long-term value for both parties involved.
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