K&H: companies spend significantly less on innovation

By: Trademagazin Date: 2022. 08. 23. 17:55

The majority of Hungarian companies, 62 percent, see themselves as innovative, and those active in trade evaluated their operations most positively from this point of view. However, a significantly smaller amount was spent on improvements: on average, not even a tenth of the sales revenue was spent on innovation in the period before this half year – it was revealed from the K&H innovation index.

55 percent of the companies expect the same amount of innovation in the next two years as in the previous two, and the developments are mainly initiated in order to adapt to the needs of customers, improve the quality of products or services, and to be able to operate more efficiently.

Although it is not primarily the lack of resources that stands in the way of innovations, domestic companies’ innovation expenses in proportion to sales have decreased significantly, according to the K&H innovation index, which closed at 30 points in the first half of this year. And the innovation rankings are still led by companies operating in industry and the service sector.