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Incremental innovation spurs on success

The Times publishes the eleventh in a series of supplements in partnership with Santander, exploring issues affecting small and medium-sized enterprises. Today's instalment draws attention to the Intellectual Property Office's annual report on innovation and growth, which confirms that those companies that innovate see twice the growth in employment and sales of non-innovators. Interviewee Richard Sellwood, managing director of Anglepoise, explains: 'If you can't compete on innovation you end up competing on price, and that is not a winning strategy, particularly for an SME.' Writing in the supplement, Marcelino Castrillo, managing director of SME Banking at Santander UK, explains how growing start-ups can maintain their innovative edge. As the bank launches its new marketing campaign, he says Santander 'is making clear its intent to offer something new to businesses in the UK, to support them in achieving their next breakthrough and ultimately their ambitions and goals'.

 

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