Paul Whiteway, an Associate Consultant of GDP Global, specialises in inward investment promotion. From 2003 to 2008, he worked at the centre of the UK’s inward investment network as...The harsher economic climate brings obvious challenges for Investment Promotion Agencies (IPAs). But this is not the time to back away from 
promotion: it is the moment to look afresh at your strategy. Agencies focused on facilitation should also look at active promotion.
All IPAs should review their target markets and concentrate where growth remains strong.
- Now is the time to define your offer more clearly compared with those of your competitors. This is what is going to give you an edge. But this work will be wasted if your staff lack the skills to market the offer effectively. Analyse their skills, consider what training they require and if you can recruit new staff to fill any gaps.
- Pay attention to existing investors, and help remove from their path obstacles to further expansion. Tell your Government clearly if it is adopting policies that will deter investment.
- Be ruthless about cutting out waste.
- Look critically at your organisation. Is it structured according to business need?
- Nurture relationships with regional stakeholders.
- Consider focussing more effort on high value investors.
- Call in expert help. GDP Global would be delighted to assist.
Extended blog click here.
