COVID-19 has driven a colossal demand for technology, connectivity and innovation amongst businesses and consumers. The crisis has highlighted the best of British innovation and business dynamism, but for the positive impacts to be sustainable and engrained there are challenges to address.
Businesses have told us they are struggling with lower cash reserves to invest in innovation, there is increasing pressure on digital connectivity networks to power new technologies, and there is a growing concern about the impact of future regulation on the UK’s digital dynamism. Against this backdrop, firms are also grappling with the UK’s changing place in the world, as government embarks on new trade deals and reshapes its regulatory environment.
As the UK builds back better from COVID-19, a dynamic innovation economy is essential – to foster prosperity, create high quality jobs and attract investment.
That’s why the CBI has set out a vision for a world-leading innovation economy (the ‘five signs of