For companies working out of serviced offices in Northampton innovation is key to success in these difficult economic times, but innovation is not just about new products and services, it also covers entire business models.
Noel Quinn, head of commercial banking for HSBC, said that it is vital for firms to evolve their business processes and strategies by exploring new markets and looking for ways to succeed.
He highlighted the example of an engineering company he recently visited which has at any one time between 200-250 graduate engineers based around the globe, allowing them to bring new products to market and offer excellent service.
"I think innovation is about changing your business model; opening up new channels, opening up new markets. It's about technology and product as well," Mr Quinn added.
Entrepreneurial businesses operating from serviced offices in Northampton could see revenues grow over the next 12 months.
According to the 2010 Deloitte Entrepreneurship Survey, 90 per cent of such firms expect 2011 to increase revenue.



