Scots firms maintain R&D ahead of UK competitors

Scottish companies are investing more than their southern counterparts in the search for new ideas, services and products.

While 5 per cent of firms across the UK have recently increased R&D spend, three times as many firms north of the Border had upped their spending, the survey found.

The poll, by London-based IT consultancy Portal, also revealed that 14 per cent of companies across the UK have “cut their investment in R&D enormously” but in Scotland, that number is just under 6 per cent.

And just over 31 per cent of companies are spending absolutely nothing on R&D, while only 20 per cent of Scottish companies have cut their investment completely.

Tony Egerton, sales and marketing director at Portal said: “Cutting R&D is cutting your nose to spite your face and is only going to be bad news for companies that think it’s a rational business strategy.”