R&D spend to rise

News

A survey by intellectual property firm Withers & Rogers suggests that a third of UK businesses are preparing to increase spend on research and development in the year ahead.

One in three UK businesses are preparing to increase spend on research and development in the year ahead - a sign that business confidence is returning, according to a new survey by intellectual property firm, Withers & Rogers.

The survey reveals that 31 per cent of businesses are planning to spend more on R&D in the coming year and 84 per cent are expecting to spend the same or more.

Similarly, 35 per cent of businesses say that they are planning to do more to protect their intellectual property in the next 12 months.

Withers & Rogers’ Karl Barnfather said: ‘The fact that businesses are prepared to spend the same or more on R&D in the current climate is positive, indicating an underlying confidence about their trading position.

‘However, the survey also reveals that some businesses are failing to optimise the commercial value of their knowledge, by cutting corners and potentially missing out on opportunities.’

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