At a time when businesses face rapid change and disruption, nurturing innovation has never been more important.
Ireland’s open economy is highly exposed to the impact of geopolitical developments.This, combined with changes to customer behaviour, technologies, regulation, and demographics, has made innovation a strategic imperative for Irish businesses.
Research conducted by RedC Research on behalf of KPMG shows that innovation levels continue to increase. 88 percent of companies currently innovate in Ireland and/or abroad, up eight percentage points on 2016. Yet despite their innovative work, most have never claimed an R&D tax credit and many could potentially lose out on financial benefits through lack of awareness of the knowledge development box (“KDB”).
We hope that you will find this snapshot of current innovation matters in Ireland useful and thought provoking. If you would like further information or to discuss how to build more innovation into your business, please do get in touch - our contact details are included at the back of this report.