Member Article

News that London had won the race to host the Olympic and Paralympic Games in 2012 was greeted with delight not only in sporting circles, but also in many commercial ones. Businesses up and down the country rubbed their hands with glee at the thought of a raft of new and exciting commercial opportunities. Importantly, these opportunities are not just the preserve of businesses south of the border, but are also available to Scottish businesses. This article looks at how Scottish companies can ensure they get a piece of the Olympic gold. Being quick off the starting blocks is the key to Olympic success both on and off field. A business that is swift to identify and respond appropriately to business opportunities as and when they arise stands a greater chance of taking home a prize. Two Scottish businesses that have already won gold include Edinburgh-based Navyblue Design Group, which won the tender to design London 2012's bid document, and Kirriemuir-based Hi-Fli Banners and Flags, which played a significant part in the manufacturing of London 2012's promotional and branding material. It is hoped that other Scottish firms can follow suit. The imperative for Scottish businesses to seize Olympic opportunities gathered pace with the publication of the government's London Olympics Bill, which was introduced to the House of Commons on 14 July 2005. This Bill establishes an Olympic Delivery Authority whose function is to deliver public sector obligations for the games, principally the necessary venues and infrastructure. Amongst other things, the Bill also deals with transport and advertising issues. The commercial wheels of the Olympic Games are firmly in motion, and new business opportunities are emerging on a daily basis. Linked to this, Scottish businesses should also be prepared to commence bidding for a plethora of construction and other contracts related to the development of various Olympic venues. In playing a part in the development of the Games, Scottish businesses will be able to showcase their talent on a worldwide stage. This global exposure will put Britain on the map and businesses in Scotland must ensure they are part of this. Athlete training camps also offer opportunities for Scottish businesses. In an effort to secure every possible competitive advantage, athletes often train in host counties in the years and months leading up to an Olympic Games. Scotland already has a number of world-class sporting venues that could be used as training camps. It is now up to the Scottish Executive to decide whether it wants to add to these venues. Such development would undoubtedly spell further opportunities for Scotland's businesses. A boom in Scottish tourism may also be a by-product of the London Olympics. Whilst Hampden Park, the National Football Stadium in Glasgow, is currently the only Scottish venue earmarked for the Games, there remains the possibility that more Scottish venues may be chosen, and that more spectators may flock to Scotland. Equally, many spectators may simply choose to spend some time north of the border as part of a longer vacation. It is vital that the tourism industry ensures that it advertises Scotland in the best possible manner and that it does not miss this golden opportunity for business. A London Olympics in 2012 looks promising for Scottish businesses. But Scotland cannot afford to sit back and expect the money to flow in - it has to be willing to reach out and grab it. The prize is there for the taking.

 

Footnotes: Catherine Tracey is a solicitor specialising in public law with commercial law firm Shepherd+ Wedderburn +44 (0)131 473 5474 Diary Bullet Points 1 September 2005: The Age-Related Payments Regulations 2005 come into force 4 September 2005: Scottish Parliament summer recess ends 16 September 2005: Holyrood conference on Green Jobs 19-22 September 2005: Liberal Democrat party conference, Blackpool 20 September 2005: Holyrood conference on Smoking in Public Places 26 September 2005: Holyrood conference on the Scottish Parliament Explained 26-29 September 2005: Labour party conference, Brighton 30 September 2005: Holyrood conference on Leadership