Spirit Of The Age - Business

It is an exciting time to be an entrepreneur in Scotland. The business landscape has changed remarkably over the last ten years and entrepreneurs are viewed as a positive influence on the community as well as the economy.

Many support organisations have been created to maximise the potential of new businesses. At the forefront is the Entrepreneurial Exchange, Scotland's leading organisation for ambitious growth-oriented entrepreneurs. Notable others include the Hillington Innovation Centre, Scottish Enterprise's Business Gateway, Business Forum and Bacon, Eggs & Entrepreneurs. Their aim is to be of help in every stage of the business process, from planning to networking. Many offer conferences and seminars with a specific focus on relevant business issues.

In the drive for success there are inevitably challenges. In Scotland there is still a lack of confidence, with the result that business start-up rates are lower than in England. Ambition is also an issue, as many Scottish companies perceive their marketplace to be confined to our borders.

But as with any challenge, opportunity is close by. Here are a few key points to help new businesses:

• Choose your market wisely - favour growth markets.
• Know your products and your competitors.
• Surround yourself with the right people - choose talent, and motivate, inspire and drive your team.
• Create a difference - construct compelling reasons for customers to buy from you; differentiate yourself.
• Work hard - there is no shortcut; the difference between ordinary and extraordinary is extra effort.

Scotland has a long history of innovation and success - long may it continue.

Chris Gorman - 4 November 2007