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Building relationships with suppliers.
At Dutchmans we can provide start-up businesses in the Essex area with help and advice. Here are some basic considerations regarding suppliers and purchasing.
When it comes to building a market and servicing it, you and your suppliers are on the same side, so you should consider trying to build a relationship with them that reflects that.
Sit down with them as 'partners' and try to work out an arrangement that benefits both parties.
Try to identify:
In a period of economic difficulty or uncertainty, remember that suppliers might raise their prices, so try to negotiate a long-term discount with them.
You could also consider putting all major costs out to tender on a regular basis.
If you are starting a business in the Essex area and would like help and advice, contact Dutchmans.
Dutchmans is a member of the ICAEW Practice Assurance scheme.
Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.