Featured Articles

LG G Watch R ships in two weeks

LG G Watch R ships in two weeks

The LG G Watch R, the first Android Wear watch with a truly round face, is coming soon and judging by…

More...
LG unveils NUCLUN big.LITTLE SoC

LG unveils NUCLUN big.LITTLE SoC

LG has officially announced its first smartphone SoC, the NUCLUN, formerly known as the Odin.

More...
Microsoft moves 2.4 million Xbox Ones

Microsoft moves 2.4 million Xbox Ones

Microsoft has announced that it move 2.4 million consoles in fiscal year 2015 Q1. The announcement came with the latest financial…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 13 September 2011 10:42

British can't come up with new ideas

Written by Nick Farell
y_exclamation

Cutting back too much on research
If you wonder why there has been a lack of brilliant ideas coming out of Britain lately it might be because the nation's businesses are cutting back on research.

A third of British companies spend nothing on searching for new ideas, services and products according to a new survey conducted by IT consultancy Portal. The survey of 500 companies up and down the country found that only a fifth of companies spend more than five per cent of their revenues on research and development (R&D), despite the fact that nearly 52 percent recognise that innovation is critical.

In a whitepaper entitled “Innovation: the first casualty of a downturn”, the companies said that the economic downturn is the main reason for failing to invest in R&D. Less than seven per cent of respondents have increased their investment since the start of the recession in 2008 while nearly 14 per cent have “cut their investment in R&D enormously.” More than 48 per cent said they would invest more if the government was able to offer tax breaks on R&D expenditure.

Lack of available funds is not the only reason for companies failing to invest sufficiently. Perceived difficulty of the process is deterring some from applying sufficient resource too.



Nick Farell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments