Data from Companies House reveals that strategic business partnerships are on the rise. In fact, there has been a 50 percent increase since 2008.
Certainly arrangements such as joint ventures and strategic alliances can deliver a number of advantages including:
- Increased capacity
- Access to new markets, especially overseas
- A wider distribution network
- Access to additional technology, staff, and finance
- Spreading of risks and costs with other parties
However, they can and do go wrong, especially if they are not well researched beforehand or there is a fundamental incompatibility of aims or expectations between the partners.
If you are thinking of going down this route, give us a call. We would be happy to advise and assist in this area.