79 BUSINESS ADVICE it complies with your business policies. It is also important to note that business gifts cannot be deducted from business expenditures as they’re seen in the same way as entertainment experiences. Your business cannot claim fewer taxes by discounting your business gifts on your books. It is best to run these expenses past your in-house finance team first. Invest in shared experiences. Another excellent corporate gifting idea could be an experience day to help strengthen your bond and truly get to know the people you’re working with – after all, there’s no better way to get to know someone than an escape room or a day at the golf course. Baxter says: “You’ll want to know the people behind the company. So, spending time outside of formal meetings can be a great way to strengthen your professional relationships.” In fact, these shared experiences open up communication and make a great speaking point besides the work itself. While the work is important, knowing your partners on a human level is essential within the corporate working world. Open communication Another way to build the best, and right, relationships is by having open communication from the beginning. A good partnership is built on communication, so ensure you’re providing this from the start, whether this is the usual meetings, sending updates regularly, or even letting the other business have their preferred ways of contacting you. Not every business will have the same communication style or timeline as you, so if you’re looking to impress or build on those relationships, ensuring you’re investing in communication that works for both you and the other company is crucial. Starting, strengthening, and maintaining good business relationships is all about connection. You need to see the people behind the brand identity and make a genuine connection. This can be from gift giving, a popular form of relationship management, sharing time together, or simply encouraging good communication and open channels for a better rapport. www.baxtersofscotland.com
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