The Vancouver Sun recently wrote an article highlighting the large amount of innovation small business owners are investing in innovation and research and development.
An impressive 13% of the 500 business owners surveyed said they will spend more than 10% of revenues on innovation or research and development this year; 10% expect to spend between 6% and 10%; and 28% plant to invest 1% to 5%.
Many of those surveyed also stated that they were forced to innovate due to the recession. Reasons included attracting a better staff and keeping a competitive edge.
Read more about what Canadian entrepreneurs are doing to keep their edge here.