Fresh year, fresh decade, fresh start.
The last three years of political and economic uncertainty with ever changing rules and constantly moving goalposts has not been conducive to heavy investment and clear growth plans. Yet Scotland has continued to show a resilience in the face of adversity and leads the way in fin-tech, food and drink, and finance, as well as experiencing a resurgence in the oil and gas industry.
Key acquisitions include Loch Lomond Group, Alexander Dennis Ltd, Scottish Salmon Company alongside the assets of ConocoPhilips and Chevron in the North Sea. Strong private equity investment continued into expanding med-tech and fin-tech businesses and the property market held up remarkably well in the house building sector. There was also notable success in transport, renewables, utilities, and finance. Retail was the real sufferer.
Politics aside we have some clarity around the future. We are leaving Europe. Now we have to start planning properly about what that might mean to our own businesses, markets, employees and future. The strategy discussion becomes very real.
Whilst your own company may not be directly involved, Scotland will be on the world stage this year with COP26. All eyes on Glasgow. Previous hosts include Paris, Munich, Buenos Aires, Montreal, Geneva, Kyoto and Madrid so we are playing in the Premier League. If possible, use this to your advantage and feed off the energy (excuse the pun) it will create.
England and Europe remain our biggest trading partners by some distance so ensuring the supply chain is free flowing is imperative but also understanding how best to use your human capital is equally important. How do you retain foreign talent and possibly more importantly, how do you attract it? Have you planned for the reality of a dearth of good management skills from a generation that couldn’t start their careers due to a lengthy economic downturn 10 years ago? Where is the next generation of investment going to come from and how do we stand out on a busy, competitive global stage?
This is the chance to revitalise business, rethink strategy and re-energise your workforce.
We are highly experienced at advising business on their structure, strengths, shortcomings and solutions, often in a purely advisory manner and then, when required, as a partner for building real impact teams. If you think you could benefit from further discussion with very experienced business consultants then please get in touch at [email protected].
- Make it memorable.