Foundations of Research and Development for SMEs
Henry Kafeman emphasises that successful R&D in SMEs begins not with building technology, but with careful preparation. Before committing resources, businesses must validate market need, assess competitors, and ensure their idea is commercially viable in terms of pricing and cost. He highlights the importance of early consideration of intellectual property, regulatory requirements, and the skills and funding needed to progress. R&D should also be viewed within a wider business context, including marketing, operations, and sustainability. Ultimately, Kafeman argues that disciplined, ongoing planning across the full product lifecycle is essential to minimise risk and turn ideas into viable, market-ready solutions.