Business networking is the practice of building relationships with individuals and businesses for professional purposes. It involves the strategic exchange of information and resources to create connections that can be mutually beneficial. Business networking can be conducted in person, online, or through a combination of both. Through repeated interactions, companies create deeper connections. This encourages knowledge exchange, mutual adaptation, and a commitment of resources, which can be both financial and social, to one another.

Business networking helps individuals achieve effective networking which can result in career advancement, building mutually beneficial relationships and knowledge sharing. There are two main approaches of networking: in-person events like conferences and online platforms like LinkedIn. Setting clear goals beforehand and following up with connections after the event are two methods used to maximize the value of the interactions. It is estimated that around half of all jobs in the USA are found via networking.

Business networking offers a variety of advantages for professionals at all stages of their careers. Some goals individuals can achieve through effective networking include career advancement opportunities, gaining access to valuable knowledge and expertise, and building mutually beneficial relationships.

Networks can be a powerful tool for identifying new job openings, particularly positions that are not advertised. Connections can provide valuable recommendations and introductions to hiring managers. Networking allows individuals to showcase their skills and experience to potential employers. By building relationships with potential clients and partners at networking events, one can significantly increase awareness of their brand or business. A strong network can act as a referral source, bringing in new business opportunities through trusted recommendations. These connections can become a source of valuable knowledge and expertise. Through conversations and potential mentorship opportunities with experienced professionals, valuable insights can be gained into industry trends and best practices. Business networking fosters the development of mutually beneficial relationships. By connecting with like-minded professionals, organizations can build long-term, trusted bonds that offer support, advice, and collaboration opportunities.

Many businesses utilize networking as a key element in their marketing plans. It helps to develop trust between those involved and plays a big part in raising the profile of a company. Suppliers and businesses can be seen as networked businesses, and will tend to source the business and their suppliers through their existing relationships, as well as with the companies they work closely with. Penny Power states that networked businesses tend to be open, random, and supportive, whereas those relying on hierarchical, traditional managed approaches are closed, selective, and controlling.

Historically, there have been multiple forms of business networks, such as those among religious or ethnic groups, among small businesses, or between large companies and their subcontractors. Business networks have existed between firms as well as between individuals. Guilds, associations of merchants and craftspeople, were the main form of business network in North America and Western Europe prior to the Industrial Revolution. Beginning in the 1700s, chambers of commerce began to be founded. In the early twentieth century, service clubs such as the Rotary Club, Lions Club, and Kiwanis Club were founded as social organizations for business networking.

In the second half of the twentieth century, networking was promoted to help business people to build their social capital. Business networking by members of marginalized groups (e.g., women, African Americans, etc.) has been encouraged to identify and address the challenges barring them from professional success. Mainstream business literature subsequently adopted the terms and concepts, and promoted them as pathways to success for all career climbers.^{[citation needed]}

Before online business networking, in-person networking was the only option for business people. This was achieved through a number of techniques such as trade show marketing and loyalty programs. Though these techniques have been proven to still be an effective source of making connections and growing a business, many companies now focus more on online marketing due to the ability to track every detail of a campaign and justify the expenditure involved in setting up a campaign.^{[better source needed]}