Glossary
What Is Business Development?
Business development is the work of creating long-term value for a company through markets, customers and relationships. It overlaps with sales and marketing but is not the same thing: sales closes what already exists, marketing creates demand for it, business development decides which markets and partnerships are worth building in the first place.
What the work actually involves
Identifying markets worth entering, assessing what entry would cost and require, building partnerships and distribution channels, and negotiating the agreements that hold them together. In smaller companies it usually sits with the founder or a single commercial lead rather than with a department.
Where structure becomes part of the job
Business development turns into a structural question the moment it crosses a border. Serving customers in a new market often requires a local entity, a local bank account, or a visa for the person on the ground — and which of the three applies depends entirely on the country. Companies that treat this as an afterthought usually discover it at the point where a contract is ready to sign.
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Frequently Asked Questions
- Is business development the same as sales?
- No. Sales works on the opportunities that exist today. Business development decides which opportunities should exist at all — which markets, which partners, which channels.
- When does international expansion need a local company?
- It varies by country. Some markets allow cross-border invoicing indefinitely; others require a local entity as soon as there are local customers, staff or a physical presence.