In business matchmaking, companies are able to meet, network with and ultimately partner with other firms in order to meet strategic objectives. The practice is becoming more popular in an increasingly borderless world where businesses must expand into new markets and territories.

Business matchmaking has many benefits. In addition to introducing firms to complementary or similar firms, companies also report that they are able to transfer knowledge faster, collaborate to develop new products and win new business, and navigate cultural and policy differences more easily.

While the concept is appealing, making the right business match can prove a challenge, especially if a firm is looking for partnerships in countries or markets that they have little or no experience with. Small- to mid-sized enterprises venturing out of their home markets for the first time may not have the network, knowhow, and on-ground knowledge to make the most of the opportunity.

Such companies are advised to turn to partners that do offer business matchmaking services to ease the process. Typically, business matchmaking firms should have strong in-market networks and connections, and a proven track record in setting these relationships up. Beyond organising business matchmaking and networking events, an effective business matchmaker will be able to deliver value-added services as new alliances unfold.

Business owners should thus look for business matchmaking firms that have a good understanding of their specific needs and objectives, as well as be able to provide empirical, data-driven evidence (such as a strong portfolio of market research and business consultancy services) to help their clients calculate risk.

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Marie Teo
Manager, Group Marketing Communications
Spire Research and Consulting
Phone: (65) 6838 5355
E-mail: marie.teo@spireresearch.com