‘You must have a strategy to innovate and experiment that comes from the top down,’ says Chris Jones, head of business projects for Napp Pharmaceutical.

‘You have to be willing to take a risk. The regulatory side of the pharmaceutical industry can turn you into a conservative-steady-eddy business that follows the big boys, but at the end of the day innovation and the willingness to stick your neck out stops you from staying still.

‘You have to let people fail and accept that failure is part of the process, and you need the right people who are prepared to take up that challenge,’ he says.

‘People who say: “We’ve done it this way for 20 years and that’s the way it should stay” cannot help the business improve and grow.’

Jones says it is up to managers to invest in new talent and people who think outside the box. ‘You must create a culture that allows innovation to happen, whether that is through allocating time or money,’ he says.

Jones believes a company intranet or the use of chat forums can be a good starting place, and that SMEs should avoid thinking that they do not have the time for innovation.

‘Many SMEs think they are mean and lean and do not have the fat in the organisation to work on innovation, but to promote future success, you have to champion creative flair and let those people know they are being listened to,’ says Jones.