Post-pandemic slows innovation/ KI: 1 in 5 companies pay no attention at all

2024-04-24 16:20:00, Aktualitet CNA

Out of 10 companies, only 4 of them pay significant attention to innovation.

The data of the Investment Council show that the focus in this direction of business in Albania has slowed down in relation to the period of the beginning of the post-pandemic.

"More than 4 out of 10 companies pay significant attention to innovation in their company; While 1 in 5 companies do not pay attention at all.

The data is deteriorating compared to 2021" says the latest KI survey on the challenges of the private sector, informality, productivity and innovation.

The findings confirm that in 2021 at least 78 percent of companies reported placing significant importance on innovation compared to 45 percent in 2024.

Post-pandemic slows innovation/ KI: 1 in 5 companies pay no attention at all

On average, attention is paid by 34 percent in 2024 compared to 24 percent. No attention is paid at all, 21 percent of businesses answered in 2024 compared to 4 percent in 2021.

In 2020 and 2021, due to the restrictions brought about by the pandemic, attention to innovation and technology experienced a significant increase, aiming to facilitate work processes under the conditions of restrictions.

Another point in the KI survey is that of Research and Development.

From the responses of the businesses, it was found that "In general, funds related to R&D are allocated according to the specific case and only 6% declare that they have a dedicated fund for R&D—a worsening indicator compared to 2021".

Post-pandemic slows innovation/ KI: 1 in 5 companies pay no attention at all

Regarding the training of employees, it is reported that the companies train them only on occasion and do not have dedicated funds for training.

For the year 2024, 60 percent of the businesses answered that they do not have a dedicated fund for this, but act according to the cases, while in 2021, only 7 percent of the businesses answered that way.

With the answer "yes" for dedicated funds, 16 percent of businesses answered in 2024, while in 2021 this answer was received by 38 percent of businesses./ Monitor.al