The hidden value in innovation

Harnessing research and development tax credits and investing in innovation could unlock significant opportunities for manufacturers, as specialists at ABGI UK point out.

The increasing focus over the past few years on “innovation as a means to increased competitiveness” should be a strong force encouraging companies across the UK economy to invest their own resource, time and cash in innovation projects.
However, Sheffield City Region’s Quarterly Economic Review recently cited that, of the companies it surveyed within its area, 30% did not intend to invest in innovation projects at all over the next year.

So, with wide recognition that innovation, in most cases, is translated into increased revenue from sales of new or improved products reduced operating costs through improved productivity better operating profits and more flexible and resilient businesses, why is it that companies are still hesitant to commit even more time and money into innovation projects?

Article originally published on BQLive

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