Scotland’s major business enterprise agency today highlights the benefits that client-companies have enjoyed over the past financial year.
The quango said that companies will achieve an additional £658 million in revenue over the next three years, through its innovation support during 2014-15.
This has more than doubled compared to the figures from the previous year, demonstrating year on year progress in encouraging more companies to be innovative and embrace a culture of continual innovation for business growth.
One company which has ‘innovated’ with help from such help is Selkirk-based Spark Energy – a ‘challenger brand’ to Britain’s Big Six energy companies which specialises in contract selling electricity to rented property.
Spark Energy has entered the ‘Fastrack 100’ index of growing companies organised by a London-based newspaper and has an award-winning customer service centre. The company has a commitment to outperform the Big Six and is focused on investing in innovation and business improvement.
Last year, it received more than £150,000 from Scots taxpayers towards ‘continuous improvement of customer experience’. Over the last three years, the company has had annual sales growth of 97% and forecasts continued substantial growth in the next few years, with turnover in the coming year forecast at £130 million.
Deputy First Minister John Swinney commented: “Our vision is to make Scotland a world-leading entrepreneurial and innovative nation. That’s why we have put innovation at the heart of our government economic strategy – to drive long term competitiveness, boost productivity and increase sustainable economic growth.
“These results show that increasing numbers of companies are recognising the benefits of investing in innovation, reaping the rewards and contributing to the Scottish economy.”