In recent days, I’ve spent time at Liverpool Science Park, Manchester Science Park and Daresbury Science & Innovation Campus and I’ve been thinking about how important R&D is to the future prosperity of the UK.
I work a lot with Professor Colin Whitehouse who heads up both the Daresbury and Harwell Science and Innovation Campus. We’re both passionate about what we do, he about science and I about international trade. I was, therefore, delighted to read a report this morning that highlighted how much more R&D is undertaken by exporting firms. Many reports have suggested that exporting firms are likely to be up to 75% more innovative than firms that don’t export, but a study by Aston University of a sample of 400 firms reveals that exporters invest, on average, an additional £65000 on R&D.
The report goes on to say that there is a particular correlation with those firms that are being assisted by UKTI on programmes such as Passport to Export and an increase in R&D activity. Innovate or die is a quote often attributed to Tom Peters or Bill Gates, but whoever it was who said it, UK firms cannot compete on price alone and it would be foolish even to try. We all need to invest in new products and processes and ultimately in our knowledge and intellectual property in order to differentiate us from those that do compete purely on price and it’s great to see that UKTI is playing its part.
Exporting and productivity gains go hand in hand and it’s terrific to see that the North West has exported £17.6bn of goods for the first three quarters of 2009. We recently overtook London as the UK’s second biggest exporting region and we have maintained that position. This can only be good news for the region as we all aim for a more productive and prosperous regional economy.