Innovation investment rises in light of Brexit
In a recent survey carried out by CBI of over 800 businesses, results showed that more than 70% of respondents are planning to increase or maintain their innovation spending in the coming months and years, despite the UK’s Brexit vote.
Last year, businesses invested almost £21bn on innovation. This has allowed Britain to attract global investment and expand. It therefore comes as no surprise to see that the top priorities for a number of firms include access to skills (66%), tariff-free access to goods (41%), and keeping common regulatory standards (38%). Many businesses will be looking to the Autumn Statement to cement these opportunities.
For more findings from the survey, head here.. http://ow.ly/TTys306rO8t
Elon Musk considers a Tesla engineering base in the UK
The CEO and founder has recently shared his thoughts on establishing a base in the UK, believing that he “did not see” Brexit having a “significant impact” on the opportunity of bringing desirable electric motoring to people at prices they can afford.
Speaking recently with the Telegraph, Musk said: “We have a lot of respect for the British automotive engineering talent. Just look at Formula One – it amazes me how much British talent there is in that.”
To find out more on Tesla’s plans, head here.. http://ow.ly/WoS9306rO9Y
Manufacturing: how much of it depends on the single market?
At a time where manufacturers continue to adapt to the uncertainty ahead, it’s now more important than ever to weigh up the benefits of the single market. In a new article from Prospect Magazine, they do just that.
For the majority of companies, it has been business as usual. This may be due to the fact that only 6% of UK SMEs currently export to the single market, and are therefore not experiencing the doubts that others are. But does this mean that the UK can survive as a world leader outside of the partnership? Despite many suggestions otherwise, the European Commission itself has said “over the next ten to 15 years, 90% of world demand will be generated outside Europe.”
You can read the full article by heading here.. http://ow.ly/vGPx306rOd2