Resilience is a word that keeps popping up on business news websites this year.
And it’s no wonder – so many companies have had to demonstrate it in one way or another in a world rocked by seismic global events, from conflict to covid and climate.
I spotted the buzzword again recently in the findings from the Highland & Island Enterprise (HIE) Business Panel survey.
It says businesses across the north of Scotland and our Island communities have demonstrated a resilient response to the global challenges. They achieved this through investment, new technology and adopting alternative ways of working.
The research – part of a wider rural Scotland study completed in partnership with the Scottish Government – looked into business confidence, performance, operating status and general optimism across over 2,700 businesses, more than 1,000 of which were located in the Highlands and Islands.
Despite factors such as the rise in inflation and supply chain issues, feedback from the majority of Highlands & Islands businesses highlighted strong signs of recovery and resilience. Over 43 per cent were able to demonstrate growth which highlights a much stronger, more confident outlook in this region compared with the rest of Scotland.
Two thirds of the companies surveyed have maintained stable employment levels and businesses in the region also said they’re open to embracing new forms of technology to reap the benefits that come with this.
It’s no surprise to see the research shows there are still challenges be tackled though, particularly in food and drink industries, with rising costs and supply shortages.
Yet a sense of optimism definitely remains – perhaps bolstered, in part, by the fact businesses know they’re not going it alone. More initiatives are popping up to help support entrepreneurs in the region.
For example, even before the survey was released, HIE unveiled a set of business support services for food and drink firms scattered across some of the more remote areas.
It awarded a three-consultation contract, worth over £370k, to deliver the services which will focus on sustainable and innovative ways to support businesses in the development of new products and services. This will range from both in person and virtual sessions, with industry experts sharing their knowledge and helping business owners shape their approach.
This collaborative effort aims to provide the expertise and insights and encourage them to think outside of the box.
The support system is just one part of a much larger support strategy for the food and drink industry – it’s part of a £14.2 million initiative in conjunction with the Northern Innovation Hub (NIH).
However food and drink isn’t the only industry to get a bite of the action from HIE – tech is firmly on its radar too.
Last month it launched a pilot mentoring scheme in partnership with one of Scotland’s largest tech hubs, CodeBase. The Pathfinder Accelerator business growth programme is designed to help support technology and software design businesses across the region to understand how to collaborate effectively and make the most of a new, more digital-centric economy.
The programme comprises one-hour sessions which aim to get under the skin of businesses, explore their aspirations, set goals and provide support in achieving them.
I have no doubt that initiatives like this and playing a huge part in helping to inspire confidence despite the challenging business environment.
The value of getting external, impartial advice can’t be underestimated either. It can be so easy to become set in your ways of doing things and sometimes a word in your ear from an experienced but objective observer can give you the clarity you need.
Being a resilient company doesn’t have to be a solo affair. If you’re in business and there is support available, grab it with both hands if you want to give your company the best chance to thrive.
Wheels Not Wings: Travel Investments Boost Scottish Tourism
Many of us have been looking forward to jetting off abroad this year but staffing issues and cancelled flights have led to travel chaos for holidaymakers hoping for a week in the sun.
But you don’t necessarily need to take to the skies for a stunning holiday – if you opt for wheels rather than wings there are plenty of amazing adventures to be had.
It looks like private equity firm Piper shares this view because it has just invested £7m in Scotland-based coach tour operator Rabbie’s.
The investors say it will help the business remain a market leader in off-the-beaten-track tours that support local communities in the UK and Europe, while driving brand awareness among inbound tourists and domestic travellers.
With a fleet of 100 vehicles, Rabbie’s specialises in taking small groups on mini-coach tours across the UK and Europe.
Rabbie’s struggled during the height of the pandemic as travel restrictions began to bite, but it saw a quick rebound in sales following the lifting of Covid restrictions.
Its recent expansion into Europe means it now offers trips in Spain, Portugal, Italy and Switzerland.
Another wheely good story for Scottish tourism hit headlines this week too when the Crieff Hydro Family of Hotels announced its acquisition of Highland Safaris.
It offers a range of activities including spectacular Land Rover tours through Perthshires’s mountains and forests.
Husband and wife team Donald and Julie Riddell founded the business in 1992, and hope the acquisition by the hotel group will provide the growth opportunities needed to take the company to the next level.
It’s great to see investment being made into Scottish businesses operating in the tourism sector after what has been a challenging couple of years.
Hopefully this is a positive sign of things to come as our tourism industry steadies itself on the road to success.
It Made Me Laugh
Mythical monster or marketing master stroke?
The Loch Ness Monster and reports of sightings have captivated us for centuries as well as baffling scientists and piquing the imagination of monster hunters.
Over the decades many theories have arisen in a bid to offer an explanation.
They range from the mundane (wind on the surface water, reflections and plant debris) and the zoologically implausible (anacondas and killer whales) to the frankly bonkers (ghost dinosaurs anyone?).
I had to laugh at a recent theory that the loch-dwelling beast is actually just a huge frog.
The amphibious proposition has taken social media by storm.
Whatever your belief as to what lives at the bottom of Loch Ness, don’t frog-et it’s worth nearly £41 million a year to the Scottish economy – no laughing matter.
It Made Me Weep
Our chip shops are a national treasure but Scotland’s taste for fried fish in batter could be at risk.
Chippies are battling rising energy bills, along with increased costs for things like cooking oil, potatoes and fish due to Russia’s invasion of Ukraine.
Russia is a major producer of white fish but tariffs of around 35 per cent, in retaliation for tough economic sanctions, could force the price of fish upwards.
Scottish chip shop bosses have turned to Scandinavia for help to keep prices under control and avoid a scenario that could see up to a third of chip shops close.
The issue was on the agenda at the Frozen at Sea gathering in Aeslund, Norway.
Hopefully a solution can be found, and a chippie tea remains on the menu.
