Date posted: 1/06/2018 2 min read

A new practical guide to help your business become more innovative

Chartered Accountants ANZ launches a new business briefing about innovation for small and medium businesses

In brief

  • CA ANZ have launched Business Briefing – Innovation, a practical guide for SMEs in Australia and New Zealand
  • The paper is a collaboration with the Australian Government Department of Industry, Innovation and Science and Callaghan Innovation (NZ)
  • Innovation and Science Australia recently launched their plan for Australia’s innovation agenda

In January 2018, Innovation and Science Australia (ISA)’s “Australia 2030; Prosperity through Innovation” (the 2030 Plan), was launched by ISA Chair, Bill Ferris AC. Innovation and Science Australia (ISA) was established by the Australian Government as an independent statutory board with responsibility for providing strategic whole-of-government advice on all science, research and innovation matters. As part of its mandate, ISA was tasked with delivering a strategic plan for Australian innovation out to 2030 to the Australian Government. The 2030 Plan will be a roadmap for strengthening Australia’s role as a leading innovation nation. It makes 30 recommendations to the Australian Government under 5 strategic policy imperatives – education, industry, government, research & development and culture & ambition. In May, the Government issued their response to plan, strongly endorsing its recommendations and implementing some of them in the 2018/19 budget.

Chartered Accountants Australia and New Zealand have relaunched their Business Briefing – Innovation paper, a collaboration with the Australian Government’s Department of Industry, Innovation and Science and Callaghan Innovation, New Zealand’s Innovation agency. In her foreword, Senator the Hon Michaelia Cash, Minister for Jobs and Innovation notes that ‘Global markets are increasingly competitive and disruptive, which can pose challenges for business.’ As Callaghan Innovation’s CEO Vic Crone notes ‘the businesses that will succeed are the ones that are prepared to disrupt themselves’.

This Business Briefing provides practical information on innovation for small to medium businesses in Australia and New Zealand. The paper includes an overview of business innovation, including the different types which exist, information on how to a business culture which supports innovation, tips on working collaboratively, enablers of innovation and how to understand the value proposition of an innovation. It also list relevant government services and provides a checklist to help businesses identify areas for focus. The paper also has a number of Australian and New Zealand case studies showing how successful businesses in the region have embraced innovation and overcome any challenges.

Explore how the finance function is transforming to meet the future needs of business, shifting its focus from tasks to strategy and building teams who can support innovation in business at the World Congress of Accountants in November in Sydney.

Business Briefing Innovation

A practical guide for SMEs in Australia and New Zealand

Read the paper