8158.0 - Innovation in Australian Business, 2003 (Reissue)  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 16/03/2005  Reissue
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MEDIA RELEASE

March 16, 2005
Embargoed 11:30am (AEST)
28/2005

Innovative ACT businesses lead use of consultants

The ACT had the highest proportion of innovative businesses who sourced ideas or information from consultants (49%) of all states and territories in the three years to 2003, according to data released today by the Australian Bureau of Statistics (ABS).

Nationally, 32% of innovative businesses sourced ideas or information from consultants.

However, ideas from within individual businesses was the highest reported source of ideas or information in the ACT (80%).

Clients or customers were the second highest source of ideas or information (66%).

More than one in five (29%) businesses in the ACT were recorded as innovative in the three years to 2003 (i.e. introduced a new or significantly improved good or service and/or process).

Innovation in goods and services was introduced mainly to increase revenue, with 71% of innovative ACT businesses citing this as a reason. Nationally, this figure was 61%.

Innovation in new processes was introduced mainly to improve productivity, with almost three-quarters (73%) of innovative businesses in the ACT recorded this as a reason. Nationally, the proportion was 62%.

Further information is available in Innovation in Australian Business (cat. no. 8158.0)

Media note: Innovation is defined as the process of introducing new or significantly improved goods or services and/or processes.