Do you know why some companies seem to handle economic downturns more smoothly? Or why do others, even with excellent products or services, struggle to survive? The answer isn’t just about numbers or sophisticated financial strategies. In reality, success in unstable economic periods depends, more than anything, on the quality of the partnerships you build—with your employees, your suppliers, your clients, and other players in your business ecosystem.
Discover how to establish partnerships with other companies, employees, and clients to navigate this period successfully!
Why Business Partnerships Matter More Than Ever
Recent studies show that during economic crises, companies that rely on strong relationships with both internal and external partners are far more likely to survive—and even grow. A 2023 PwC report revealed that 67% of companies with strategic partnerships maintained or increased revenue during recessions, compared to only 41% of companies that operated independently.
How much do you rely on your partnerships?
Successful Business Partnerships
The business world offers many examples of companies that leveraged strategic collaborations to overcome crises:
Starbucks and PepsiCo
In the 1990s, Starbucks wanted to enter the packaged beverage market without assuming all the logistical and financial risks of distribution. Partnering with PepsiCo allowed Starbucks to use Pepsi’s global distribution network to sell ready-to-drink coffee in supermarkets and vending machines. The benefits were multiple:
- Rapid expansion without massive investment – Starbucks accessed new markets without building its own infrastructure.
- Reduced financial risk – production and distribution costs were shared.
- Brand growth – consumers began recognizing Starbucks outside of coffee shops.
This partnership proves that a strategic ally can turn an opportunity into global success, even in challenging economic times.
Airbnb and American Express
In 2016, Airbnb and American Express created an innovative partnership where AmEx cardholders received bonuses and benefits for bookings on Airbnb. The impact was significant:
- Expanded customer base – Airbnb accessed a loyal AmEx user community.
- Brand strengthening – association with a trusted, established brand increased consumer confidence iin Airbnb.
- Diversified promotion channels – Airbnb could communicate directly with a premium customer segment.
Coca-Cola and McDonald’s
Collaboration between two of the world’s biggest brands is a classic example of strategic partnerships. During crises, the companies coordinated campaigns and product launches, gaining mutual advantages:
- Sales stability – consumers continued to be attracted by integrated products such as combos and promotional offers.
- Increased loyalty – consumers experienced a unified, high-quality experience.
- Marketing synergy – joint campaigns reduced costs and maximized impact.
Spotify and Uber
Spotify and Uber partnered innovatively: Uber passengers could listen to their favorite music during rides. Benefits included:
- Enhanced customer experience – services became more attractive and personalized.
- Competitive advantage – both brands gained visibility and recognition.
- Innovation and differentiation – combining ride-sharing and music streaming offered something unique to consumers.
How to Identify the Right Partners
Finding the right partners isn’t about randomly contacting companies or signing the first available contract. It’s a strategic process that can mean the difference between success and failure, especially in difficult economic times.
Shared Values and Goals
A partnership won’t work if your goals diverge. If your vision is to offer premium services while your partner is only after high volumes at low costs, tensions will inevitably arise.
Steps to take:
- Analyze the potential partner’s mission and values.
- Discuss expectations and short- and long-term objectives openly.
- Ask yourself: “Could this partner align with my company’s values and culture even in challenging times?”
Complementarity
Ideal business partners don’t just do similar work—they fill gaps in your business. For instance, if you specialize in production, a partner strong in distribution or marketing can make the difference between stagnation and growth.
Steps to take:
- Identify areas where you need support: resources, know-how, technology, market access.
- Search partners who bring precisely those skills, creating a win-win collaboration.
Stability and Reliability
During tough times, partners who fail to meet commitments can cause major issues. Financial stability and reputation are crucial.
Steps to take:
- Review the company’s and leaders’ track record.
- Search for recommendations and case studies on how they handle crises.
- Ask questions: “How did you respond in previous crises? What lessons were learned?”
Flexibility and Openness
Crises demand adaptability. Partners insisting on rigid rules can become obstacles, while flexible partners become real allies.
Steps to take:
- Discuss hypothetical crisis scenarios and see how the partner responds.
- Observe their openness to adjusting terms or processes.
- Ask yourself: “Can I work with this partner even if unexpected market changes occur?”
How to Build a Partnership with Another Company
Once you’ve identified the right partners, collaboration must be managed strategically to maximize results and prevent problems:
Consistent and Transparent Communication
Partnerships fail if problems or expectations aren’t discussed openly. Regular communication builds trust and clarity.
- Schedule periodic updates and feedback meetings.
- Be honest about challenges and encourage your partner to do the same.
Clear and Measurable Objectives
Each party must understand what success looks like and how it will be measured to avoid frustration or misunderstandings.
- Establish clear performance indicators (KPIs) for each company
- Analyze results and review objectives regularly.
Flexibility in Negotiations
Economic crises require compromises and rapid adjustments. Strong partnerships allow both parties to renegotiate terms without major tension.
- Include flexible clauses in contracts to allow reasonable adjustments.
- Stay open to creative solutions and alternatives.
Ongoing Monitoring and Feedback
Collaboration without close monitoring can quickly deteriorate. Continuous feedback prevents minor issues from becoming critical.
- Implement reporting and evaluation mechanisms.
- Encourage partners to offer improvement suggestions.
Mutual Trust and Respect
Contracts and documents are important, but the foundation of any successful partnership is human connection. Trust and respect make the long-term difference.
- Honor commitments and deadlines.
- Show appreciation for your partner’s efforts and results.
- Foster a collaborative environment where both parties feel they benefit.
Partnership with Employees
Employees are essential partners in business success. Involve them actively in decisions and projects, listen to their ideas, and provide constant feedback to create an environment where they feel valued and motivated. Recognizing efforts, offering development opportunities, and providing flexibility transforms them into true allies. Engaged and respected employees support the business, solve challenges, and find solutions even during tough economic times.
Partnership with Clients
Clients aren’t just consumers—they are long-term partners. Listen to their needs and adapt your products or services to provide real value. Communicate openly, meet deadlines, and offer personalized solutions. Solid, ongoing relationships help maintain sales and turn economic challenges into opportunities to strengthen your brand and reputation.
Partnering with Smartemp Helps You Grow Your Business Even in a Crisis
In an uncertain economic environment, where pressure on costs, personnel, and processes is increasing, the right business partner can make the difference between stagnation and progress.
Smartemp, with 13 years of experience and 10 years working with multinationals, is a business partner that offers not only recruitment and HR services but also strategic support and solutions tailored to your business reality. It’s a relationship based on trust, transparency, and efficiency. In an economic context where every decision matters, Smartemp becomes an extension of your team, balancing flexibility with control.
Advantages of partnering with Smartemp:
- Flexibility in hiring – hire temporary or permanent staff based on your business needs and seasonality.
- Complete support in recruitment and administration – Smartemp handles recruitment, contracts, payroll, and all administrative tasks so you can focus on strategy, not bureaucracy.
- HR consulting and expertise – receive legal advice, recommendations, and solutions tailored to your company’s specifics, regardless of industry.
- Transparency and control – access reports and analytics for efficient staff management and informed decision-making.
Why choose Smartemp FlexWork?
To optimize recruitment and HR costs, Smartemp launched Smartemp FlexWork—a comprehensive package covering all stages of temporary hiring.
Publish and promote job ads, screen CVs, conduct interviews, and present the best candidates.
Manage all administrative tasks, including contracts, legal advice, and assistance with extensions or direct hires.
Once candidates are selected, we handle all administrative aspects: drafting and managing employment contracts, providing legal advice, assisting with contract extensions or permanent employment transitions. We also support onboarding, ensuring new employees integrate smoothly. Each person receives information about company policies and procedures, access to a dedicated HR line, and continuous monitoring from our Smartemp team throughout the collaboration.
Pe langa aceste servicii incluse, FlexWork aduce angajatorilor si beneficii suplimentare: In addition to these included services, FlexWork offers extra benefits to employers: a free digital guide on managing temporary employment legally, a 10% discount on administrative costs for long-term contracts (minimum 10 employees), and a “Try & Hire” option that allows a temporary collaboration to become a permanent one. Upon request, we can also provide feedback reports or operational training for temporary staff.
In economically difficult times, your business cannot face challenges alone. Collaborating with other companies provides access to resources and new ideas, involving employees as trusted partners makes work easier and more efficient, and strong client relationships maintain trust and loyalty. With these solid connections, economic challenges become manageable, and your business can keep moving forward without losing momentum.
Sources:
- PwC – “Strategic Partnerships in Times of Economic Uncertainty,” 2023
- Harvard Business Review – “The Power of Partnerships in Business Growth,” 2022
- Forbes – “How Strategic Alliances Help Companies Survive Economic Downturns,” 2021
- Business Insider – “Airbnb CEO Brian Chesky on the Advantages of Partnerships During Uncertain Times,” 2025
- The Guardian – “How Academics Are Helping Firms Innovate and Grow Through Collaboration,” 2025
- Time – “Working Together Keeps Saving the World: Partnerships in Business and Crisis,” 2023
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