Business Innovation - Missed Opportunities for Accountants
The Government’s UK Innovation Survey 2021 makes interesting and potentially profitable reading.
In summary, it says:
- In 2018-2020, 45% of UK businesses were innovation active compared to 38% in 2016-2018. 
- In 2018-2020, 58% of large businesses were innovation active, compared to 44% of SMEs. 
- The percentage of innovation active businesses was highest in England (46%) in 2018-2020. 
- In Wales 44% of businesses in 2018-2020 were innovation active 
- 39% in Scotland 
- 38% in Northern Ireland. 
- The East of England and the West Midlands were the English regions with the highest percentages of innovation active businesses with 51% and 49% respectively. 
Now for the gobsmacker…
ONLY 4% RECEIVED INDIRECT FINANCIAL SUPPORT SUCH AS R&D TAX CREDITS!!
Whilst Runagood® is not a player in the tax credit industry our Business Dashboard® assessment tool will flag up R&D issues in any business.
 
          