Australian businesses more innovative

Nearly half of all Australian businesses (45%) undertook some form of innovative activity last financial year, the Australian Bureau of Statistics (ABS) reported this week.

Innovative activity which increased by 22% over the previous year undertaken by Australian businesses included the development or introduction of new or significantly improved goods, services, processes or methods.

The wholesale trade industry, according to the ABS survey, reported the highest innovative activity. Approximately six businesses in ten (59%) reported being innovative-active.

The survey also found that large businesses were almost twice as likely to be innovative than small businesses (71% compared to 37%).

The ABS also reported that over one-third (36%) of businesses have a web presence. Large businesses (96%) were more than three times as likely to have a web presence than small businesses (27%).

Broadband continued to dominate internet access connection with 94% of businesses with internet access reporting to have a broadband connection.

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