Research and development 

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The consumer's appetite for new and improved offerings is constant. Innovating can help you meet those needs and gain an edge over your competitor's products or services. By investing in research and development, your business could achieve greater profits down the road.

R&D involves finding out what the market wants, then designing, prototyping, testing, and producing the final product or service.

Whether you are on your own or have a dedicated R&D team, there are a number of activities you may need to do if you undertake this kind of project. You may need to:

  • Do your own research or get outside assistance
  • Meet performance or safety standards and regulations for controlled or restricted products
  • Implement new technologies to produce your products or deliver services
  • Protect your ideas

Take advantage of resources that may help you.

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