IBBZ Accounting

Chartered Accountants & Tax Specialist

 

Useful tips for Small Business

General update by IBBZ Accounting on latest tax news, business growth and technology tips.

Why Business networking essential for small businesses?

on in Business growth
  • Font size: Larger Smaller
  • Hits: 1805
  • 0 Comments
  • Print

Business Networking

Business networking is a process of creating and nurturing relationships with other businesses, clients or potential customers. It is mutually beneficial for both the parties to enhance their knowledge, build new business opportunities and learn from success of others.


Networking for business must be strategic, focussed with an intention of growing business. It requires proactive approach like having networking goals, making a plan, deciding budget, acting on the plan with focus and with consistency. According to Forbes 2016, networking is important to entrepreneurial success for 78% of startups.


Advantages of business networking for small businesses employing less than 20 people:


1. Build connections:

It is important to build relevant connections if you want your business to succeed. Networking provides a platform where you can connect with highly influential people from industry and build personal connections. This also allows you to indirectly network with the person’s connections.

 

2. Generate more business:

You can join networking groups, network with the potential clients and get highly quality leads for your business. This is a more cost-effective way of generating business instead of expensive advertising. As a result, you can increase your business.

 

3. Increases confidence:

As a business owner or business manager, it is vital to talk to other businesses that you don’t know. You can make new friends with like -minded people, discuss about any challenges or problems. Make long lasting connections with them. This brings confidence, positivity and morale.

 

4. More visibility in the market:

Attending networking events can help in elevating your personal profile in the market because this allows you to be in top of others mind. Like, you are Chartered Accountants and if someone needs financial planning or tax help, they will certainly remember you and contact you whenever they need.

 

5. Enhance knowledge:

You can share your experiences and knowledge with others and vice versa. For instance, you are planning to introduce a new product or services and you get valuable advice related to legislation associated with it. So, you can learn from others experience and consider every factor including legislation involved.

 

6. Keeps you updated with information and trends:

It is important to be updated with current trends and knowing target market. Hence, regular networking helps in staying current and planning.

 

{proforms 1}

0

Saurav Wadhwa

Saurav Wadhwa is the Managing Director of IBBZ Accounting. IBBZ Accounting is one of the finest tax consulting firm based in Auckland, New Zealand. IBBZ Accounting has multiple business awards. 
Saurav Wadhwa is Masters in Taxation and Post Graduate in Law. Has dual membership with New Zealand Institute of Chartered Accountants and CPA Australia. He has a passion for Helping New Zealand Businesses. 


 


Awards and Recognition


 


As of Aug 2020 total number of 115 businesses saved from tax debt associated problems. Their written testimonials and Google Reviews provides authenticity of these numbers.


2019 IBBZ Accounting was Finalist in two categories: Excellence in Customer Service and Excellence in Business Planning. Westpac Auckland Business Awards


2018 IBBZ Accounting was Finalist in Westpac Auckland Business Awards: Strategy and Business Planning 2018.


2017 Saurav was appointed as a committee member to New Zealand Public Practice Board of CPA Australia. 


2015 Saurav won the award of Best Accountant of the Year.


2014 IBBZ Accounting won the award of Best Small Business 2014. 



 


News Paper Articles.


Sunday Star Times -Fairfax Media -12-08-2018


InTheBlack Aug 2018 issue - CPA Australia In Practice Publication 


 


Contact us on info@ibbz.co.nz  or 09 272 8050

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Saturday, 28 May 2022