Innovation

What is it? Innovation is something every business can be part of. In its simplest form, it’s about improvement. It could be as unassuming as a change to internal systems, or as grand as the large-scale development of a new product or business direction.

Why should businesses innovate?

Research tells us that innovative companies grow faster and more profitably than others. When you innovate, you are adapting your business to the changing needs of markets and consumers. This keeps you one step ahead of the competition and makes the business more likely to succeed. 

Businesses that foster a culture of openness and innovation inspire employees to contribute towards business improvement and idea generation. This helps employees feel more engaged and happier at work, making them more productive as a result. Increased productivity leads to increased profits and at a faster rate.

The Highlands and Islands region is full of small to medium-sized businesses. At HIE we know that supporting SMEs to bring innovation into their business practice will benefit the whole economy in the long-term, so we’re here to help.

However you implement it, innovation makes your business stronger, more profitable and better equipped for whatever challenges it faces - so you can work on growing your with confidence.

Have a look at our support programmes for help with innovation within your business.