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Home > QFINANCE Dictionary > Definition of business cluster

Definition of

business cluster

Business

cooperative of small related firms a group of small firms from similar industries that team up and act as one body. Creating a business cluster enables firms to enjoy economies of scale usually only available to bigger competitors. Marketing costs can be shared and goods can be bought more cheaply. There are also networking advantages, allowing small firms to share experiences and discuss business strategies.

Definitions of ’business cluster’ and meaning of ’business cluster’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’business cluster’ and other financial terms with our online QFINANCE Financial Dictionary.

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