meaning of business cluster

business cluster meaning in Law Dictionary

geographical concentration of interconnected businesses, suppliers, and associated establishments in a particular industry. Clusters are thought to boost the productivity with which companies can contend, nationally and globally.

business cluster meaning in Business Dictionary

A network of connected businesses, companies, and colleagues in a certain field being all found in the exact same geographical location. Clusters are believed to give you increased performance and output so businesses may be competitive on a national and global scale.