OVER the years, strategic partnerships and joint ventures, in particular, have become effective tools for advancing business growth, especially for small and medium businesses and enterprises (SMEs) in the Philippines. Partnerships or alliances enable companies to get above and beyond their own constraints, seize fresh opportunities and collaboratively navigate the intricacies of the continuously evolving business landscape.
It is important to always be on the lookout for new and creative ways to grow and expand within the ever-changing business sector, and in order to accomplish shared objectives, local SMEs can form strategic relationships with other companies through pooling resources, getting access to certain markets or developing complementary abilities. One of the tried-and-tested business development methods is pursuing a partnership with the local government.
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