This strategy shows how Innovate UK is helping businesses use design to help them innovate better, grow faster and be more successful.
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The UK is a centre for design excellence. The design-intensive industries contribute 7.2% of the UK’s total Gross Value Added (GVA). Around 580,000 people work in more than 72,000 design industry businesses. More than 1 million people work in design roles across other sectors.
The value of design for businesses
This strategy shows the value that design can bring to businesses. For every £1 invested in design, a business might achieve as much as £20 in increased revenues. They can also achieve up to £4 increase in net operating profit and a return of £5 in increased exports. Despite this, 68% of UK businesses never, or rarely, use design, or use it only as a ’last finish’.
Support for UK businesses
Since 2007, Innovate UK has invested over £1.5 billion of public money in innovation. It has helped over 5,000 businesses and added an estimated £7.5 billion to the UK economy.
This strategy shows how Innovate UK will encourage businesses to use design. This will help businesses to innovate better, grow faster and achieve greater commercial success. Stronger business performance will benefit the UK economy as a whole.
Published: 10 November 2015
From: Innovate UK