We are already well into 2011 and looking at a challenging year.

The increase in VAT, cutbacks in government spending and an upward trend in inflation is concerning. Interest rates seem certain to rise.

Much news comment is focused on negatives with a fair degree of ‘doom and gloom’. However I think there are marvellous opportunities for good businesses to prosper.

Only this week ASOS the online fashion company reported an increase in sales and Apple Inc has made record profits of $6bn.

So what’s their secret? Simply put, they produce something people want to buy at a price they can afford and deliver it to them in the way they want.

The exciting challenge for 2011 is to make it a year of change not retrenchment.

For example, I live in a town where there are traditional high street shops. A major food retailer is to open to the horror of many of these locals. They don’t see it as an opportunity but a threat and there is a real reluctance to change. Many are going to continue with their existing hours, including half day on Wednesday!

Tough times also present opportunities – it forces us to look at our approach, our structure and our offering and those companies that evolve will come out stronger. Those who refuse to adapt will stagnate and possibly not survive.

What changes do you need to make?