Investing in research and development helps businesses reach potential

Alliance Party Employment & Learning Spokesperson Chris Lyttle MLA has encouraged businesses to consider the benefits of investment in research and development in order to maximise their economic potential. His comments come following the publication of the Innovation Benchmarking Survey Report which examined 600 businesses in Northern Ireland, the West of Scotland and the border region of Ireland and showed that up to a third of companies could improve their opportunities for success by investing more in research and development.

Chris Lyttle MLA said: “Research and development is vital for companies to reach their potential. The Northern Ireland Assembly and Executive must do more to raise awareness of funding opportunities available to our local SMEs, in particular, through the European Union Framework Programme and I would strongly encourage local businesses to identify opportunities for innovation assistance.

“The findings of this report are extremely relevant and it points to increased investment in innovation as the way forward for economic growth in Northern Ireland.” ENDS

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