Take a walk around any city, town or village in Scotland and it won’t be long before you see a business that has been forced to diversify. From restaurants that now deliver through online ordering to tradesmen in their fifties and sixties who have had to go it alone, the economic landscape is changing fast.
And while no one needs to be reminded how grim the past 12 months have been for almost every sector, there are opportunities that could trigger a revolution.
Scotland is full of accidental entrepreneurs: people and companies forced into massive change through necessity rather than choice. They may not fit the traditional stereotype of a successful business owner, but they hold the key to growth and job creation, so local authorities and ministers need to step in now to ensure they reach their potential.
Because although these people are experts in their trade, and many of them ingenious for the way they have adapted their businesses almost overnight, they may hit a wall when it comes to the next steps.
Given the pandemic’s lack of notice, many of these skilled individuals won’t have prepared for a life in business. They won’t know how to pitch to investors, they won’t have had time to train in presentations and business development, and they might not know where to start when it comes to more than simply surviving beyond the end of the day.
Advertisement
Councils especially can capitalise on this and make sure these people are harnessed for the sake of economic growth. We’ve learnt that, when it comes to economic interventions that are badly needed, money is no object. Cash should be set aside to incentivise these brilliant people to become even better. It would appeal to wealthy investors, too, many of whom are looking for positive ways to use their money, and often want to do so close to home.
Some of these born-again businessmen and women, who may not even regard themselves as such, won’t even recognise the potential in front of them, so busy are they with everyday life in a strange new world.
The economic climate has forced thousands to do something new. But that climate can produce the very best businesses: the type that rises to prominence through the most turbulent of periods.
Councils and governments have the resources and contacts to make all the difference. If done correctly, the dividends in tax receipts and economic activity could be significant for the whole country.
The pandemic hasn’t presented many win-win opportunities, so when one arrives, we need to take it.
Advertisement
Finlay Kerr is a management consultant
