The R & D: Key for Spanish companies
57% of Spanish companies consider R & D as a key strategy to grow and remain competitive in the market, according to the Barometer of Financing Innovation conducted annually Alma Consulting Group, Europe's leading consultancy in taxation and finance Innovation.
Spanish companies put the tax deduction for R & D at the head of incentive instruments in Europe, with a utilization of 53%, according to the study. In 2011, external financing of innovation projects in European companies are supported by 66% in public funding and 34% in private funding.
73% of Spanish companies expressed great optimism in the future as far as innovation is concerned, and 53% reinvests a significant portion of its profits in R & D. The tax deduction for R & D allowed 34% of businesses to increase staff dedicated to R & D and 40% increase the number of business innovations.
Also at European level
Identify the most appropriate instruments to finance R & D has been the main priority in 2011 for 45% of innovative companies in Europe, far ahead of the innovation itself, according to the study.
Tax deductions for R & D remain the financing option mostly used in Europe: achieving a higher value than the Grants and Loans in the UK, France, Portugal, Czech Republic and Belgium (over 65% of respondents claim to use them ) and are less used in the countries of Central Europe (less than 37%), where financial instruments are more recent (renewed in 2004 in Hungary, and introduced in 2005 in the Czech Republic).
In terms of satisfaction with the various resource options, bank loans for R & D ranks first, with a satisfaction rate of 66%. In France, Portugal and the UK, the satisfaction rate is at its highest, with 84%.
With respect to the average amount of tax deductions for R & D allocated in 2010, 88% of tax deductions for R & D distribution is less than € 500,000. 62% of European companies seeking a tax deduction for R & D have increased their innovations launched to the market, and 49% of its workforce dedicated to R & D.