Business Networking - Key networking groups reviewed

If you provide a product or service for other businesses, then networking can be a great way to generate leads and referrals.

To the outsider, many networking events may seem to be the same: A group of people who meet regularly, often for breakfast, and aren’t really interested in meeting you.

But that couldn’t be further from the truth. Yes there are a few who network just to catch up with friends, but most business people network to meet new people and create opportunities.

There are several networking groups that operate across the UK. Here’s a quick review of the main ones:

BNI

BNI stands for Business Networking International, and started as a group in California in the 1980s. Now it has spread across the world, with hundreds of “chapters” – or groups – in virtually every town and city in the UK. The point of the group is to generate referrals for members. You get to know the other members in your group through regular meetings and 121s, and then look out for opportunities for them. They of course do the same for you.

You have to pay to join a group and commit to attending a meeting every single week, or sending a substitute in your place. Each group will only accept one member from each profession, i.e. one accountant or one solicitor. You will also be expected to bring referrals or visitors throughout your membership. BNI operates on the basis of ‘Givers Gain’ – the more you put into your chapter, the more you will get back.

When you add up the fees and cost of breakfasts it could cost you up to £1,000 a year. But BNI claims members pass 4.9 million referrals between each other a year, and it’s not unusual to meet people who have been members for five years or more. Prospective members are allowed to visit a chapter with a suitable vacancy for two meetings.

Business Referral Exchange

Very similar to BNI, with rules about membership and the meetings run in the same manner. The big difference seems to be that BRE doesn’t mind you being a member of other formal networking groups.

Federation of Small Businesses

The FSB is the UK’s biggest lobbying group for small businesses. It’s also a good organiser of local networking events that are often well-attended. Be aware that you will mostly meet small businesses! The organisation is divided into regions; check out the FSB website to find your local events.

Your local Chamber of Commerce

Most Chambers run regular networking groups, and they can be an excellent way to meet representatives from bigger businesses that don’t attend other networking groups.

Your local Business Link

They might not arrange or run networking events, but most Business Links hold up-to-date lists of other networking events happening in your area.

Aurora Network

The Aurora network is for women only, and tends to attract large audiences to its events. Tends to be focused round the major cities. Good for high-level networking.

Ecademy

Ecademy is an online network that also organises real life events (again typically based round major cities). You can sign up for free but need to pay for enhanced membership and proper online networking. It’s an effective way to meet businesses that you may never meet in real life, but as with any online networking, it takes longer and is harder to develop proper connections.

LinkedIn

Another online tool that helps you use your friends and colleagues’ networks. With LinkedIn you link to everyone you know in business, and can then access their network. The idea is that you can get a personal introduction and recommendation to a service you need. That works both ways.