Innovation Nation – The UK SME Innovation Survey
Supporting innovative SMEs in the UK
Here at GovGrant we engage with businesses to find the best ways to reward innovation in the UK. We aim to influence policy by representing the innovative businesses we work with. As part of this ongoing dialogue, and at this critical time for SME businesses in the UK, we carried our Innovation Nation survey 2020.
GovGrant are experts in all things R&D Tax Credits, Intellectual Property and innovation.
Our survey collected the views of over 500 SME decision-makers across seven different industry sectors. Our research confirmed:
Despite the government’s R&D Roadmap outlining its commitment to R&D and innovation, our research shows the need for further support when it comes to recognising innovative activity.
SMEs urgently need clarity and a common definition of innovation that transcends sectors, geography and generations if we’re going to plug the gap between the support that’s available and how SMEs make use of it. This is particularly true when it comes to IP.
Innovation has never been more important for creating a resilient and productive economy post Covid-19, especially with Brexit and the end of the transition period also fast approaching. We need to be taking intellectual property much more seriously.
The government must do more to improve awareness and accessibility of its support schemes, including the Patent Box, if SMEs are going to invest in their R&D and thrive. We urgently need to review the patent process and make it attractive on the global stage.