In a time of austerity, it may seem tempting to sit tight and wait for things to improve. In fact, this is the ideal time to go for growth.Those who explore new opportunities are less vulnerable to losing market share to rivals – including international imports into Scotland.

Often firms are nudged into action by events: perhaps an unsolicited order from abroad, or the appearance of a new rival. But the most successful Scottish companies are those which have taken a strategic decision to evolve.

Time to think globally

Successful export demands commitment. But those who have taken the first step often find the obstacles are over-estimated, and the benefits immense.

There’s a direct link between international trade and financial success. According to government research, companies that trade overseas are more likely to have capital to invest in innovation and product development, and to maintain or create jobs.

Millions of people in Asia, the Middle East and South America are joining the new middle class – creating an explosion of demand for products and services.

And the present currency situation presents a real window of opportunity. Current exchange rates mean our goods are now up to 11 per cent cheaper in the Eurozone and 20 per cent lower in the US than a couple of years ago. UK businesses must exploit this while it lasts.

Time to think differently

Innovation makes businesses more efficient and profitable. That’s why it’s so critical for businesses looking to survive and thrive in today’s economy.

Scotland is renowned for coming up with technology-based innovations. But firms in all sectors find new customers by modifying their existing goods to meet a market need, or adding value through a fresh mode of delivery.

Call Scottish Enterprise today on 0845 607 8787 to find out how we can support your business.