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Australian business innovation slows

Innovation into processes has fallen sharply, while innovation into products and services has remained largely unchanged.

For those who were innovating, 55% reported spending less than $50,000 and 30% spent nothing.

Dan Purves Thu, 20 Jun 2024

The number of Australian businesses innovating has fallen to 46% due a lack of access to funding and skilled workers, according to data released today by the Australian Bureau of Statistics (ABS).

The data has a significant lag on it, as it covers the two years up to June 30, 2023, but provides

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Dan Purves Thu, 20 Jun 2024
Contact the Writer: dpurves@nbr.co.nz
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Australian business innovation slows
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104591
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