Businesses are planning to spend more, not less, on research and development (R&D) in 2011, despite concerns about the perceived negative impact of government spending cuts, finds research.
Businesses are planning to spend more, not less, on research and development (R&D) in 2011, despite concerns about the perceived negative impact of government spending cuts, finds research.
More than three quarters (77 per cent) of businesses report their R&D spend has increased or remains the same despite the uncertain economic conditions, a survey of 61 executives responsible for intellectual property (IP) management in UK businesses reveals.
The majority (53 per cent) of respondents expect to spend more on R&D this year, while one third (34 per cent) aim to increase the volume of IP activity in the same period. Only 13 per cent say they will cut R&D spending in 2011.
Karl Barnfather, partner at law firm Withers & Rogers, which commissioned the survey, comments: ‘Our poll suggests businesses are feeling quietly confident about the year ahead, despite concerns about the impact of public sector spending cuts and continuing global economic uncertainty. This is evident in their intention to increase spend on R&D in 2011 and to extend their IP protection.’
