Product and innovation
Why do we find that our industry, which is so dependent on new product and innovation seems to suffer such a lack of real funding for the life blood of our business?
This instantly means the gap between what we want to do and what we can afford to do ever increases. Unless something starts to change very soon will innovation become ever more of a rarity in the UK leisure marine industry, leaving product development to others abroad?
It has always seemed to me that the lack of fast funding leads to longer innovation periods and even the abandonment of projects. Not to mention the cash flow problems felt all the way down the supply line.
We seem to lag very far behind other sectors, in plugging into the funding support networks which are available. Is that because we are just too small to attract interest or just don’t understand the process?
Possibly our companies are just so busy doing what they do, that time to engage is at the end of a very long to do list…
So maybe we should study how others succeed and learn from the well-worn template used, lets properly engage to make our leisure marine sector a positive innovator where the costs of innovation don’t have to be fully carried by the industry at large.
Let’s as in industry look to educate from every level and create the innovation noise to be heard as other sectors still do. This is only what is deserved and entitled
It still surprises me how few marine based businesses don’t take advantage of the most obvious schemes like the R&D tax credits (you can claim back three years’ worth of R&D spend), it can only surely be lack of awareness, which has to be changed for everyone’s good!
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