Reinvention and Resilience Top 50
Welcome to the Forbes Solicitors inaugural Reinvention and Resilience Top 50 - an insightful report featuring North West businesses that have innovated and diversified during the Coronavirus pandemic.
Over the last couple of months, we've been busy compiling research - including exciting nominations from small-to-medium-sized companies across all sectors - that showcases how businesses are generating revenue and protecting jobs in the wake of COVID-19, and we're delighted to unveil the final Top 50.
Businesses featured in the report include manufacturers who have halted traditional production lines to respond to the public health challenge; retail and hospitality companies that have innovated in order to survive the pandemic; and business services companies that have adapted operations and service offerings to grow during lockdown.
Our report identifies key trends that have seen companies 'pivot' to improve resilience by re-inventing their business, service, product or sector.
Themes evidenced by North West businesses in the report include:
- Reutilisation; companies finding new ways to use existing equipment or materials to create new products
- Rising risk tolerance; businesses dialling down their aversion to risk, whether it's through M&As or opening new sites
- From linear to flat management structures; companies embracing more democratic work cultures to accommodate resource shortages, investing in their team and digital ways of working
- Always open; companies investing in digital transformation and mobile, and new shift patterns to keep themselves always open for business
- Innovation; businesses using COVID-19 as a reason to diversify and expand their product and service offering
- Demand; responding quickly and efficiently to a surge in demand and capitalising on an overnight opportunity
- Community / CSR; highlighting the charitable and public sector efforts.
To download the Reinvention and Resilience Top 50 report, click here.
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