TRUDY MORRIS: Small steps as well as big ones can help businesses succeed
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Trudy Morris, chief executive of Caithness Chamber of Commerce, looks at navigating business challenges and seizing opportunities in 2023
As we embark on a new year, it’s natural to reflect on the past in order to reset and align our goals and ambitions for the future. In my experience, this is especially true of our local business owners, who are constantly seeking ways to improve, grow and sustain their enterprises, demonstrating extraordinary dedication, ingenuity, and resourcefulness throughout.
The last few years have seen unprecedented challenges and uncertainty for businesses across all sizes and sectors, and as we step resolutely into 2023 this shows little signs of easing.
Businesses faced with supply chain insecurity, inflation, rising costs and volatile market pricing of commodities will need to look at all options to maximise efficiencies and improve resilience.
It is encouraging to see that despite a decline in economic optimism and a turbulent outlook ahead, a significant proportion of businesses in the Highland region remain determined to achieve growth. In fact, 45 per cent of businesses are actively pursuing goals such as introducing new products or services and entering into new markets.
Agile, forward-thinking entrepreneurs who can identify and capitalise on new opportunities could find successes within the current economic environment.
The north Highlands is renowned for its innovation and flexibility in approach to business. This has been consistently exemplified through our strong track record in manufacturing, advanced engineering, new technologies, unique tourism portfolio and thriving food and drinks industry.
According to a new study from Virgin StartUp, a quarter of adults within Scotland are considering launching their own business within the next year. This trend suggests a significant level of entrepreneurial activity in the country and it’s no surprise to see this reflected in our own region.
Whilst running a business can be an inspiring and a rewarding experience, it is a significant undertaking that requires careful planning and consideration of the risks and rewards. Regardless of their size, sector or stage of establishment, it is inevitable that all businesses will face challenges.
In the current climate of rising costs businesses will need to look at innovative solutions to build resilience. It’s not always about large-scale solutions which can be overwhelming and cost prohibitive, for example changing a heating system to reduce energy bills. It is sometimes looking for the more affordable smaller interventions which can see a positive cumulative impact on reducing costs and improving efficiency.
Centred at the heart of the north Highland business community, Caithness Chamber of Commerce is here to support businesses at all stages of their development journey. As an active part of the global chamber network, we help businesses grow, connect and succeed.
Caithness Chamber of Commerce connects businesses locally, nationally and internationally with decision makers and opportunities, representing the north Highland business voice on a national level by lobbying governments on key issues, informing policy and helping to shape the decisions that affect our region.
The chamber offers a diverse range of support to business in the north Highlands, from access to funding through to our business support mentoring programme, we offer a unique opportunity to access expert knowledge, advice and networking opportunities and encourage businesses to reach out.
