COVID-19 impacts on South African business R&D and Innovation. Fact sheet 25

Abstract

R&D spend is one indicator of the health and resilience of a business. Despite the unprecedented challenge posed by COVID-19, some businesses in South Africa continued to invest in research and development while making tough choices. Equally, businesses with innovation activity-including R&D but also other types of activity-quickly adapted to the challenging context of the global coronavirus pandemic with new coping and survival strategies. A Statistics South Africa business impact survey in 2020 highlighted key trends which remain significant as the country confronts the challenges of COVID-19's second wave. For government policy makers, business leaders, and business support groups concerned to promote R&D and innovation, this fact sheet points to the necessity of national and sector support mechanisms for R&D-performing and innovation-active businesses whose turnover, and very survival, under stringent lockdown conditions are threatened.