Jun 28, 2021

What is a buying group and what are the benefits of joining?

What is a buying group and what are the benefits of joining?

As a small business owner, you probably have money at the front of your mind at all times. Because, you’ll understand that trying to reduce expenses with smart management of finances is key if you want to succeed.

Of course there are multiple ways you can shrink your costs, but one option could be to join a buying group.

To put it simply, a buying group or buyer’s group, is a term used for when small businesses work together in regards to purchasing and other business functions.

Essentially, these organisations handles things such as payments, sourcing, contract and supplier management for you, whilst leveraging the purchasing power of the group to get a better price than if you were to negotiate alone.

For small businesses, this gives them a chance to be  in competition with  larger organisations who have a more efficient supply chain – bigger organisations can offer similar products to small businesses but for lower prices.

Let’s take a look in more detail at what a buying group is and the benefits of joining.


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