Innovation boost for UK businesses
Sector News
Innovation boost for UK businesses
More UK businesses than ever before are coming up with new ideas and products , according to new research released by the Department for Business , Innovation & Skills
The statistics , based on a survey of almost 30,000 employers between 2012 to 2014 , show over half ( 53 per cent ) of UK businesses are actively engaging in developing and introducing new products and ways of making them , as well as new services and ways of doing business – up 8 per cent in 2 years alone .
Business Secretary Sajid Javid said : " From new disruptive business models to driverless cars , innovation can not only revolutionise the way we live our lives , it can bring real opportunities for businesses to tap into and grow . That is why we are determined to make the UK the best place in Europe to innovate and start a company .
" And these figures show that businesses throughout the UK are already leading the way , delivering exciting opportunities across the nation . The number of companies innovating and coming up with new , dynamic ideas is on the rise – up 8 percentage points between 2012 and 2014 , with over half of businesses now developing new products and services , some with the potential to
The government wants the UK to be the best place in Europe to innovate
revolutionise their industries .” Yorkshire and the Humber leads the UK for innovative businesses , with almost two-thirds of businesses engaged in innovation in the region . The East Midlands is also well above the UK average at 57 per cent , and the West Midlands has seen one of the largest increases in business led innovation , up
12 percentage points over 2 years . The figures also show how important innovation is to global business success – 28 per cent of innovative businesses were exporting abroad ; bringing new British products like advanced medical scanners chargers to an international market . That compares to only 10 per cent of noninnovating businesses .
Employment rules ‘ stifling ’ entrepreneurship
Employment rules which prevent employees from starting up their own business after leaving a job could be stifling British entrepreneurship , the government has suggested .
The government has launched a call for evidence asking for views on what are known as ‘ non-compete clauses ’ – which can be written into employment contracts and can prevent individuals from competing against their former employer or working for a competitor for a set period of time , sometimes up to nine months after leaving a firm .
The clauses are only enforceable in a court of law if it protects a legitimate interest and is reasonable . However , there have been suggestions that they can hinder start-ups from hiring
Employment contracts can prevent individuals from competing against their former employer
the best and brightest talent , so the government is asking for views from individuals and employers on whether this type of practice is acting as a barrier to innovation and employment .
UK businesses are being asked to give their ideas on how to make sure it works , with a survey asking for their views being launched online . The results of the survey will feed into the government ’ s Innovation Plan , which is due to be published later this year .
8 SUMMER 2016