Black Country firms would benefit from embracing innovation and innovative thinking, according to a recent business meeting held at the University of Wolverhampton Science Park.

Gareth Jones, managing director of Walsall-based In-Comm Training, said: “In terms of maintaining growth, the first thing we have to do is commit to consistently innovating. Technology moves so quickly; it does disrupt, but it can add to processes and provide a clean product. Innovation is the key.”

Ian Oakes, deputy vice-chancellor at the University of Wolverhampton, said: “The biggest thing that will impact on whether we can take advantage of opportunities is the role of the small firms.

“We have some world-class companies in our region — the likes of Jaguar Land Rover, plus the aerospace companies — and they are fantastic assets.

“However, the vast majority of our companies are small firms, and unless we get them into the supply chains of the few larger companies, they will just end up with the low-cost manufacturing jobs, as opposed to the higher-added-value jobs that we need.”