Most business relationships are not in any sense partnerships – but sometimes businesses set out to work in partnership, perhaps because each party can bring complementary skills and resources, and sometimes businesses find themselves collaborating more closely than would be typical of a traditional customer/ supplier relationship.
There are many types of partnerships and many reasons why you might want to establish one. Partners may help you to win contracts or to develop new product ideas or new service ideas or new ways to improve your productivity or to access to new markets or simply contribute knowledge and experience. But always remember that partnerships are mutual so you must be offering something in return.
This factsheet sets out some key pointers to consider if you are proactively looking for a partner or if you find an existing relationship becoming more of a partnership arrangement.