INDEPENDENT NEWS

Cost And Lack Of Management Resources Top Barriers To Innovation

Published: Thu 26 Mar 2020 10:48 AM
New Zealand businesses reported that cost and lack of management resources remain the top barriers to innovation, Stats NZ said today. These results come from the business operations survey, which reports on businesses with six or more employees.
Forty-two percent of businesses reported cost to develop or introduce innovation as a medium- or high-barrier to innovation, up from 40 percent in 2017.
“Innovation is part and parcel of business operations to create better goods and services. It is a key driver of productivity growth,” business performance manager Geraldine Duoba said.
About half of businesses carried out innovation activities in 2019, a similar proportion to that in each year measured since 2007. However, size is important, with innovation more prevalent among larger-sized businesses.
Innovation encompasses activities such as research and development (R), product design, and marketing, as well as other related activities such as prototyping or commercialisation of the developed product. Around two-thirds of innovation expenditure goes to R 68 percent in 2019, up from 64 percent in 2017. Expenditure on marketing decreased from 15 percent of all innovation expenditure in 2017 to 10 percent in 2019.
The business operations survey for 2019 included questions on business operations, innovation, and international engagement. Businesses are surveyed on innovation every two years.

Next in Business, Science, and Tech

Funding For R&D; In New Zealand – Expert Reaction
By: Science Media Centre
COVID-19: NZ Joins Global Initiative Keeping Ports Open And Freight Moving
By: Maritime New Zealand
National Backs Businesses With $10k JobStart
By: New Zealand National Party
Government Exempts Some Home Improvements From Costly Consents
By: New Zealand Government
The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards
By: New Zealand Media and Entertainment
ASB Takes The Lead Again With New Low Home Loan Interest Rate
By: ASB Bank
The Problems With Testing And Case Statistics For Covid-19
By: Nathan Hoturoa Gray
Fletcher Building to lay off 1000 staff in New Zealand
By: RNZ
Driving prompt payments to small businesses
By: New Zealand Government
On Why We Should Legally Protect The Right To Work From Home
By: Gordon Campbell
Supporting Kiwi businesses to resolve rent disputes
By: New Zealand Government
Understanding 5G Concerns – Expert Q&A;
By: Science Media Centre
Record Monthly Surplus As Imports Dive
By: Statistics New Zealand
Bar reopening night 'much, much quieter'
By: RNZ
New Zealand’s population passes 5 million
By: Statistics New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media