Australian businesses increase investment in R&D 14 October 2010 Australian businesses have increased their investment in research and development. Figures recently released by the Australian Bureau of Statistics (ABS) show that business expenditure in Australia on research and development (BERD) increased 13 per cent during 2008-09 to $16.9 billion. Australia’s Minister for Innovation, Senator Kim Carr, said that this increase shows that “businesses understand that innovation and R&D are critical to their long term planning and prosperity.” Other data from the ABS figures on R&D expenditure showed that: - Pharmaceutical business expenditure on R&D grew 12 per cent over the previous year in 2008-09, reaching $1.024 billion.
- Manufacturing, expenditure in BERD topped 25 per cent, more than any other sector.
- Small and medium-sized enterprises (SMEs) invested over 8 per cent in R&D, while large business’ expenditure made-up 71 per cent of the total, at $12 billion.
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