A joint venture or strategic alliance is a form of partnership where businesses come together to share knowledge, markets, and profits. Joint ventures can take on various forms. Small companies can band together to take on the goliaths of their industry. Big companies can form alliances with quicker and nimbler small businesses. And small companies have the opportunity to forge strategic alliances with big name companies for expanded geographic reach.
According to Commonwealth Alliance Program (CAP), businesses anticipate strategic alliances to account for 25% of all revenue by 2005, a total of 40 trillion dollars.
No small business today can afford to ignore the rewards of joint venturing.