Businesses lifted R&D spending 34% between 2016 and 2018

Wed, 27 Feb 2019

By Jenny Ruth Feb. 28 (BusinessDesk) - Businesses increased their spending on research and development by $548 million in the last two years to $2.15 billion in calendar 2018, Stats NZ says. Business spending on R&D accounted for 55 percent of the total $3.9 billion spent last year and Stats NZ says it was driven by services industries where spending has tripled to $1.4 billion since 2008. “R&D is about innovation and improving products or services. Its aim is to make businesses more profitable, efficient or reach new markets,” says bu...

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