Why Your Business Needs to Innovate to Hit Top Gear!
31 July 2018
1,000 mph: that’s the target for the Bloodhound Super Sonic Car, which is making its world land speed record attempt next year. For an idea of just how fast this is, imagine covering the length of four-and-a-half football pitches in one second.
What an amazing feat of engineering, innovation and human courage it would be to reach that mind-blowing goal. Such triumphs require not just commitment and funding, but access to a wealth of specialist knowledge and expertise from a whole range of organisations, sponsors and suppliers, all of whom contribute towards addressing the challenge.
Innovation is a critical component of business growth. Innovative SMEs not only have stronger turnover performances compared to non-innovative firms, they are also more committed to the development of their workforces and are more likely to export than non-innovative firms.
It’s important to underline here that innovation is not just about incredible challenges like Bloodhound and doesn’t even have to be about creating something entirely new. Innovation also means re-inventing a product or service for a new market or changing the way to run a business by creating or adapting different processes and systems.
Fortunately, in Greater Manchester and across the Northern Powerhouse there’s a wealth of expertise within our entrepreneurial businesses, universities and many specialist organisations that can support innovation.
And many of these will be coming together under one roof at Venturefest North West – the region’s biggest annual innovation event, with 1,000 attendees expected. So if right now it feels like you’re trying to drive your business forward with the handbrake on, what better time to find the spark you need.