Business mentoring is a scheme that different businesses sign up to, in order to share their knowledge and skills. It might be something that is arranged as part of a local business group, such as a chamber of commerce, or a networking organisation that has lots of different business types within it.
When you sign up to a mentoring scheme, you get to benefit from someone else’s experience and knowledge. You can ask for a mentor in an area where you struggle, perhaps finance or business negotiation. You will pay that business, or you can enter into a mutually beneficial agreement – different arrangements work for different people depending on the skills required.
If you are going to have a business mentor, make sure it is in an area that will benefit you. Think carefully about where your business requires improvement and the skills you would need to run it even better.