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BENEFITS OF INTRODUCED INNOVATION
Businesses with 20-199 persons employed were the most likely to have had increased revenue (48%) and improved customer service (50%) as a result of introduced innovation. Businesses with 200 or more persons employed were more than twice as likely as businesses with 0-4 persons employed to have had a reduction in cost as a benefit (39% and 15% respectively), while businesses in this smallest employment size range were more likely than any other businesses to have had no benefit from introduced innovation (13%).
Reduction in costs was most likely to be experienced by businesses in the Manufacturing and the Agriculture, forestry and fishing industries (both 28%), while businesses in the Information, media and telecommunications industry were most likely to have gained a competitive edge from introduced innovation (34%). Introducing innovation resulted in improved customer service for almost two thirds of innovating businesses in the Health care and social assistance industry (63%).
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