How to collaborate without losing control of your business

Good collaboration creates mutual benefit without removing independence. [iStockphoto]

While many SMEs recognise that collaborating with other businesses can reduce costs, improve access to markets, and create opportunities that may be difficult to achieve alone, in practice, many hesitate to collaborate.

Some fear losing customers. Others worry about sharing too much information or inadvertently helping competitors become stronger. In many cases, business owners prefer to work alone because it feels safer and easier to control.