‘Networking’, a word when used today derives a rich man’s tongue, when in essence it’s been there since the days of old. Remember barter trade? When our great-grands used to camp near trade routes to exchange goods and services without the use of money, that too was networking, and slowly that’s how the world we live in grew to be so advanced and resourceful. Thanks to networking, a global village is now what we are, so interconnected that boarders have almost become non-existent.
And just like the olden days, your networks still remain your net worth, the ones who knew the art of networking, their sons and daughters are now the affluent members of society. Living within the legacy of those who knew how to build wealth through business communities. Just imagine, if networking works that well for your business, how much more will it work to a nation.
In my line of work, I have seen how networking, through structured business communities, has changed and expanded the business and social world for many people, especially entrepreneurs. Without a doubt I have seen networking build Kenya. Whether it’s the amount of job opportunities it has opened up for people or the rise in exports and imports it has brought as a result of beyond boarder connections, networking has surely worked to build the nation.
Business communities, apart from providing a networking platform for many entrepreneurs, are a host to many regional and foreign investors. Investors looking to partner or sponsor locally owned businesses find it easy to source and collaborate with people who are already in structured business communities. It is within such communities that sponsors can easily spot business people who are in industries they are interested in. By forming strong relationships and gaining trust with each other, entrepreneurs and investors merge and create projects that span to the millions, eventually creating a ripple effect to almost all sectors of the economy.
According to Kenya State Department for Micro, Small and Medium Enterprises Development, MSMEs contribute significantly to the economy, with an average of 750,000 young people joining the workforce, whereas the formal wage corporate economy barely absorbs 50,000 people. Research by KNBS in 2022, shows how MSMEs are the engine of Kenya’s economy, accounting for 33.8% of the national output. Business communities help entrepreneurs bring new ideas, products and services to the market while still creating jobs for individuals with specialized skills hence improving their standards of living.
Business communities like Business Networking International, BNI, that has presence in 76 countries globally, offer its members a transnational business networking platform. Members get to interact and do business with each other regardless of the nation they are in. This enables nations, through entrepreneurs, to integrate into international markets through trade agreements or foreign Direct Investments.
Networking communities build nations through globally exchanging information on upcoming technologies, trends and policies affecting professional skill sets that greatly impact business dealings. Take for instance during the COVID-19 pandemic, we saw how many businesses stood the test of time by incorporating new information and trends within their operations that helped them manoeuvre through the tough economic time. Within business communities like BNI, members helped support each other’s enterprises and businesses by providing not only timely information on global market trends but also quality referrals and businesses that ensured members kept their business running. Through virtually networking with members from all over the world, businesses innovatively evolved to make ends meet.
Networking in foreign business communities strengthens the nations reputation, as one gets to act as an ambassador of the country they come from within that specific networking platform. By spreading the country’s business culture, economic policies, innovations and investment opportunities, to others outside your country, you get to attract potential investors and sponsors. These opportunities also present forums where Public-Private Partnerships can be made. These PPEs are what builds infrastructure and improve public service delivery within the nation.
Business networking communities shape global economies, national identities, and policies, they are more than just players in the country’s economy. When incorporated into strong and stable institutions and inclusive practices, business networks have the potential to be powerful catalysts for national growth and unity.
Elizaphan Muraguri- BNI Kenya National Director.
