Innovation is key

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According to a survey by Knowledge Transfer Partnerships, UK manufacturers believe that innovation is even more significant during an economic downturn than in positive trading conditions.

According to a survey by

(KTP),

manufacturers believe that innovation is even more significant during an economic downturn than in positive trading conditions.

The reputation of UK companies in the international market has become an increasingly key issue for the UK government, which outlined its new strategy for manufacturing earlier this year. The KTP survey highlighted innovation as one of the ways through which this could addressed.

Out of 200 UK manufacturers surveyed, 47 per cent said that their focus on innovation had increased due to the growth in global markets. Over two thirds are prioritising investment in staff training and around a third said that they were exploring innovation by implementing graduate and post-graduate work placements.

Dr Debbie Buckley-Golder, director for KTP said: ‘We were reassured to see that survey respondents recognise the value of knowledge sharing and innovation in helping to future-proof their business – as well as an investment in the developing the skills of their workforce.’

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