In South Africa, large firms often overlook opportunities to collaborate with Small and Medium Enterprises (SMEs), despite potential benefits for both parties. A mixed-method approach combining qualitative interviews and quantitative surveys was employed to gather insights from key stakeholders including large firm executives, SME owners, and industry experts. The research reveals that a significant proportion (75%) of SMEs in targeted sectors view collaboration with larger firms as a viable growth strategy. Interviews indicated clear interest in technology transfer and market access opportunities. This study underscores the importance of fostering collaborative environments to unlock mutual benefits for large firms and SMEs, particularly through tailored business development programmes. The findings suggest that policy initiatives should prioritise matchmaking events, technical assistance, and training programmes designed to facilitate more effective partnerships between large firms and SMEs.