Question

 

What is the need of network building for businesses?

03 Mar 2026
Answer :
Word Count : 603
Network building refers to the process of establishing relationships and connections with various stakeholders such as suppliers, customers, financial institutions, government agencies, research organizations and other businesses. For businesses, especially Micro, Small and Medium Enterprises (MSMEs) operating in rural India, network building is essential for growth, sustainability and competitiveness. It helps enterprises access information, resources, markets and opportunities that may otherwise remain unavailable to them. One of the major needs for network building in businesses is access to information and knowledge. Rural MSMEs often face limitations in obtaining updated market information, technological developments and government schemes. Through networks with industry associations, local entrepreneurs, training institutions and government bodies, businesses can stay informed about new opportunities, policies, subsidies and innovations. This _________ ______ ___ ______ ________ ___ _____ ___ ______ _______.
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