Annual Industry Position Survey
AusBiotech builds and fosters member engagement, providing value and positioning informed by their views and experiences. We work to increasing opportunities for members to offer their views and to ensure industry’s rightful place as a key and growing economic and social driver.
The annual AusBiotech Industry Position Survey gathers insights, perspectives and statistics from biotech industry leaders. By building metrics on the industry’s significance, AusBiotech can craft strong statements around current issues and trends and guide its advocacy efforts in the year ahead.
AusBiotech released the latest Industry Position Survey in May 2019. The survey was distributed to biotech industry leaders in January. Invitation-only roundtables were conducted around Australia to discuss Federal Government policy and AusBiotech’s advocacy in detail.
2019 Survey reveals apprehension on R&D Tax Incentive decision
AusBiotech’s annual survey of biotechnology industry CEOs shows that while Australia’s strength in life sciences remains in a growth trajectory, there is a worrying fall in business sentiment across the sector with uncertainty over the fate of the R&D Tax Incentive (RDTI).
The key findings of the ninth annual Survey revealed business sentiment measures show a cooling of industry confidence in the face of an uncertain political environment and an ongoing quest of the Government to limit the RDTI. The industry’s frustration on the continued threat to the RDTI was ‘loud and clear’. Both the lack of vision for industry growth levers, and plans to cut support to the sector, has shown a disillusionment across the industry; the likes of which we have never seen before.
Only 14 per cent described the Australian operating environment as ‘conducive to growing a biotech business’ - down from 37 per cent the year before. This is the worst result this decade and points to a challenging period ahead. Twenty-six per cent said the environment ‘works against growing a biotech business’, up from 16 per cent in 2018.
While industry metrics are still sound and growth expected, the survey revealed a ‘wait and see’ approach from companies in regard to employment – with a sharp increase in the plan to hold staff levels steady (24% to 47%) and a decrease in the intention to hire (73% to 51%). The characterisation of the past year saw a significant drop in those that experienced an excellent year (from 29% to 19%).
The 2019 Survey was conducted by AusBiotech with support from Grant Thornton. It revealed key themes including economic value; business sentiment; finance, investment, listing and costs; and government policy.
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- View previous surveys