Adaptable businesses best placed to beat recession
26 Feb 10
Almost half (49 per cent) of Scottish business leaders polled by BDO believe the UK Government should make concessions to the small, dynamic businesses best placed to adapt to the post-recessionary economic environment
The results were gathered at the launch of the firm’s Transitions report – compiled in conjunction with The Centre for Future Studies – which advises executives on the fundamental transformations businesses must undergo during the next five years if they are to survive and flourish.
And their thoughts were shared by speaker Professor Gordon Hewitt CBE, an authority on the dynamics of change in the business world.
Professor Hewitt said: “It’s essential that Scottish companies come to the realisation that you have to modify to win. It’s not necessarily the biggest or strongest businesses that emerge from periods of economic strife in a strong position, but rather those that are more adaptive.
“In saying that, Scotland has a reputation for spawning nimble, innovative newcomers. Harnessing those qualities and coupling them with confidence and self belief should see the country make the most of the opportunities presented by the recession.”
John Anderson, chief executive of the Entrepreneurial Exchange, added: “The Exchange is seeing many ambitious business builders poised to take advantage of the recovery. They are adaptable, not averse to taking risks and willing to make quick decisions, often in response to the changing needs of their customers.
“However, what they need is access to the funding required for growth and support from a business-friendly government.”
Neil Craig, managing partner of BDO in Scotland, said: “Our report suggests the business world is undergoing a transformation that will see the industrial structures, models and values of the past usurped by a digital, global, networked age.
“Scottish businesses have recognised there will be no return to the way things were and are focusing on developing new business models, propositions and management structures, providing encouragement for the future."