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Small firms still investing in innovation
Small and medium-sized businesses are continuing to invest in collaboration and innovation, despite the impact of the recession, according to the latest annual report from Knowledge Transfer Partnerships (KTP).
The report reveals that during 2008/09, a time in which the recession had firmly taken hold, 24% more new KTP projects were approved than during the previous year.
The findings also revealed that SMEs continue to make up the largest proportion of KTPs, accounting for around 300 projects. This shows that small businesses increasingly see the value of collaboration as a route through the recession by helping to boost innovation, improve staff training and increase profits.
"This year's KTP results reflect the increasing trend for businesses to collaborate with the UK's excellent university base. Innovation will be a key part of business' plans to grow again as we come out of the recession and KTPs offer an effective and well-tried route for this type of engagement," said Tim Bradshaw, Head of Enterprise and Innovation at the CBI.
Post Date: November 27th, 2009
The report reveals that during 2008/09, a time in which the recession had firmly taken hold, 24% more new KTP projects were approved than during the previous year.
The findings also revealed that SMEs continue to make up the largest proportion of KTPs, accounting for around 300 projects. This shows that small businesses increasingly see the value of collaboration as a route through the recession by helping to boost innovation, improve staff training and increase profits.
"This year's KTP results reflect the increasing trend for businesses to collaborate with the UK's excellent university base. Innovation will be a key part of business' plans to grow again as we come out of the recession and KTPs offer an effective and well-tried route for this type of engagement," said Tim Bradshaw, Head of Enterprise and Innovation at the CBI.
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Post Date: November 27th, 2009
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