25/11/2005
NI small businesses increase R&D spending
Northern Ireland’s small businesses have significantly increased their expenditure on research and development (R&D) over the last year, according to the latest figures.
The annual Research and Development (R&D) Expenditure figures were published this morning, and reveal that total expenditure on (R&D) was some £273 million in 2004, representing a rise of £5.3 million, 2%, in real terms, since 2003.
Enterprise Minister Angela Smith said: “Knowledge, skills and innovation capability are key factors in creating economic success. I am delighted that small businesses are recognising this. Their expenditure on R&D has increased by one third, and now accounts for 28% of total business R&D expenditure.
“There has been a 19.8% increase in R&D expenditure in the services sector. This sector is increasingly important in Northern Ireland’s economy and I am delighted to see the recognition of the importance of investing in R&D and innovation within the sector.
“Today’s figures also show that Government is playing its part in making Northern Ireland more innovative, with Government funding of business R&D expenditure up over the year by 20% to £18.9million.”
The Minister also emphasised the importance played by the Higher Education sector: “£136 million (50%) of the total R&D expenditure is accounted for by the Higher Education sector. This commitment by HE and Government must be matched by a continued growth in investment in innovation and R&D by the business sector.”
Total business expenditure on R&D increased by 0.4% in real terms over the year. The 10 biggest spending companies accounted for 43% of the R&D in Northern Ireland in 2004, compared with 46% of expenditure in 2003 and 60% in 2002. Expenditure by small sized firms (less than 50 employees) accounted for both greater expenditure (+ £9m) and a greater proportion of total expenditure in 2004 than in 2003 (28% compared with 22%).
The Minister concluded: “Historically, Northern Ireland’s R&D spend is low relative to the UK, the Republic of Ireland and the European Union. However, these figures give me confidence that the importance of R&D, innovation and creativity is being recognised, and I look forward to working with businesses and academia to build on these figures and make Northern Ireland a truly innovative economy.”
(SP/MB)
The annual Research and Development (R&D) Expenditure figures were published this morning, and reveal that total expenditure on (R&D) was some £273 million in 2004, representing a rise of £5.3 million, 2%, in real terms, since 2003.
Enterprise Minister Angela Smith said: “Knowledge, skills and innovation capability are key factors in creating economic success. I am delighted that small businesses are recognising this. Their expenditure on R&D has increased by one third, and now accounts for 28% of total business R&D expenditure.
“There has been a 19.8% increase in R&D expenditure in the services sector. This sector is increasingly important in Northern Ireland’s economy and I am delighted to see the recognition of the importance of investing in R&D and innovation within the sector.
“Today’s figures also show that Government is playing its part in making Northern Ireland more innovative, with Government funding of business R&D expenditure up over the year by 20% to £18.9million.”
The Minister also emphasised the importance played by the Higher Education sector: “£136 million (50%) of the total R&D expenditure is accounted for by the Higher Education sector. This commitment by HE and Government must be matched by a continued growth in investment in innovation and R&D by the business sector.”
Total business expenditure on R&D increased by 0.4% in real terms over the year. The 10 biggest spending companies accounted for 43% of the R&D in Northern Ireland in 2004, compared with 46% of expenditure in 2003 and 60% in 2002. Expenditure by small sized firms (less than 50 employees) accounted for both greater expenditure (+ £9m) and a greater proportion of total expenditure in 2004 than in 2003 (28% compared with 22%).
The Minister concluded: “Historically, Northern Ireland’s R&D spend is low relative to the UK, the Republic of Ireland and the European Union. However, these figures give me confidence that the importance of R&D, innovation and creativity is being recognised, and I look forward to working with businesses and academia to build on these figures and make Northern Ireland a truly innovative economy.”
(SP/MB)
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Northern Ireland WeatherToday:Cloudy with outbreaks of rain spreading north in the morning, but becoming drier for a time in the afternoon with some bright spells possible. Further rain spreading north late in the afternoon heavy at times. Very warm and humid. Maximum temperature 23 °C.Tonight:It will be cloudy with outbreaks of rain spreading north, turning heavy at times and perhaps quite persistent in the southeast with some drier spells developing in the west overnight. Minimum temperature 15 °C.