Why You Should Invest In Research And Development?

Company and some big businesses are investing in Research and Development activities because their only aim is to make their business bigger and to introduce new products Also for growing a new target audience. Do you know that US companies are all set to spend 465 billion US dollars on Research and development? It makes 2.7 percent of US GDP. it is very important for any company to stay ahead of the technology curve. In this ara, where there is any new innovation every morning, it is quite important to stay alert.

We all know the intensity of competition between all companies. You just blink, and your competitor has something new, even bigger that can keep his business better than your firm.

So here, I am going to shed light briefly on Why you should invest on Research and Development? And importance of Research and development in the coming years.

How Research and Development lead towards innovation?

The definition of Research and development according to the 6th edition of Frascati Manual (2006) OECD is “ any activity undertaken for the purpose of discovering or developing new products” it also means to improve the quality of existing products or to bring a little innovation in the old products to make them more attractive and up to date. Also, Research and development also focus on discovering or developing new or even more efficient processes of production”. So precisely we can say that “research and development leads towards some creative and systematic activities that further results in new knowledge of creating better products.

In the UK there are tons of companies that are serving the purpose of Research and Development. Among them, the most prominent name is “ areande.com” the very innovative and dynamic company that is using the technology curve to simplify innovation tax relief means either your innovation is rewarded with Tax relief or cash payment.

Now let's talk about the Advantages of Research And Development.

Advantages of Research And Development:

Implement Research and develop creative activities on your business/company results in some amazing Advantages. I am sure about one thing, you are not going to regret once you have applied the “research and development process” to your business. Below are some of the very prominent advantages of Research and Development.

The R&D Tax Credit: back in the year 1981, the IRS started offering Research and Development Tax credit for the companies who are hiring new employees for research and development services. Small ventures and startups with qualified research expenses, can avail the benefit of Tax Liabilities.

less Costly: research and development activities are very cost-effective and they can give any company few long-term benefits. Suppose if you are using your research and development activities and producing some new ideas of “manufacturing the same products within less cost”. It is going to give a strong financial breakthrough for your company. And you can millions of rupees by reducing the manufacturing cost of existing products.

Recruitment: Research and development activities are very helpful when it comes to “hiring some top talents”. Youngsters with good creative abilities got attracted to the company that has an innovative approach. Companies carrying out some interesting research and development activities can get the benefit of extracting some genius minds that can make your business a huge success with their ideas. As we have already herald “An idea can change a world”

Advertising and Marketing: Advertising and marketing are all about “introducing some new techniques and ideas” and to re-create/generate some exciting products that can steal the show at once. Do you know that consumers sometimes demand new products only because they are craving for change? Anything new and different.

Research and development activities can lead towards some great marketing and advertising ideas. It can help in creating some efficient advertising strategies with new products to gain consumer attention.

Bottom Line:

Companies are investing in research and development activities because it has some long term cost-effective benefits. Research and development is the future of this world. It helps companies to stay ahead of everyone else in the market.

Are you already implement research and development activities in your company? If now then what are you waiting for