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Business-to-business (B2B) represents an interaction in which one business makes a commercial transaction with another.
B2B also reflect supportive enterprises that offer or exchange elements that businesses need to operate and grow.
In essence, B2B encompasses companies focused on selling products or services to other businesses rather than to consumers – Business-to-Consumer (B2C).
Ultimately, B2B companies can be a part of any industry. These is a common market in any technology or manufacturing sector.
Most advanced products usually involve other companies’ products. For example, a home computer has a processor, wiring, motherboard, memory, and other components.
Each of these products are effectively bundled together as a finished computer.
The manufacturer of the finished computer purchases these components from various suppliers and in turn integrates them within the final product.
Subsequently, when buying an ASUS or Dell computer, you are purchasing parts that were created by multiple companies globally.
As such, B2B sales have become an important part of every industry's supply chain.
B2B Within the Financial Services Sector
Within the financial services space, B2B partnerships are common, often involving brokerages, technology providers, and other entities.
Like manufacturing or other industries, brokers rely on several different pieces to offer services to retail clients.
This exchange commonly includes products or services such as technology, platforms, marketing, liquidity, among others.
Companies can also offer white labeling services in a further bid to expand B2B partnerships.
Additionally, B2B space has also advanced in recent years, such that companies can now purchase entirely out-of-the-box solutions, handling responsibilities of a brokerage.