Innovation

Creativity is a continuous activity for every small business and must be combined with the ability to innovate, to take the idea and make it work in practice.

Doing things differently, better, quicker and more cost efficiently are what innovation is about in small businesses.

As competition for customers and resources become more and more intense the ability of a company to
innovate is often more important than any other factor in its sustainability.

As a small business owner you should apply innovative ideas to all areas of your business; production, finance, planning, human resource management and marketing.

The advantages of small businesses in relation to innovation relate specifically to size; dynamism, internal flexibility, short lead times and responsiveness to change. Meanwhile, the barriers to innovation have been identified in general as: -

• A general lack of suitably qualified technical specialists within small firms;
• Lack of time and resources to identify and use external sources of information, technical and scientific
  expertise.

Pathways to Innovation Advice

There are many pathways to advice and information on aspects of innovation for your new business. Many of these will be very particular to the sector that your business will be operating in, whilst
others will be more general.

Networking can provide a good platform to enable you to learn – and is also the most cost effective. Many of the agencies listed in this Guide are in a position to help you further in developing new ideas, products or services.

If you are looking to research a new product or service, then the academic institutions may be able to provide assistance. Additionally, other organisations including Enterprise Ireland (http://www.enterprise-ireland.com/) and the International Research and Development Group (http://www.irdg.ie/) will
offer assistance.