"Made in Germany" stands for quality worldwide. But according to a study, the German economy now has to do something to keep it that way. Otherwise, the seal could return to its original meaning - end of the 19th century consumers were warned in England with these words from inferior products.
There is certainly enough to worry about. Because the competitiveness of many small and medium-sized enterprises is threatened according to a study: They would have to invest more in innovation - otherwise "Hundreds of companies and thousands of workers could be sidelined," it says in a representative investigation on behalf of the Bertelsmann Foundation, "if to change the competitive environment through progressive digitization and new competitors ".
Small and medium-sized enterprises are particularly important for the German economy. They employed almost 58 percent of all employees subject to social insurance nationwide. However, only a few companies in Germany currently have the necessary innovative strength to ensure their long-term competitive position, according to the "Innovation Atlas".
Karliczek wants to help companies
According to the study, at least around a quarter of German companies are characterized by their innovative spirit and technology leadership. But 46 percent of businesses are classified as rather innovation-remote. IW Consult interviewed more than 1,000 companies from industry and industry-related services.
Digitalization and Artificial Intelligence offer companies opportunities, as Research Minister Anja Karliczek told Handelsblatt. "We have to help small and medium-sized enterprises to take advantage of them," the newspaper quotes the CDU politician.
However, the differences between industries are large according to the study. According to the authors, the leading industries in terms of innovation culture are the pharmaceutical and chemical industries as well as the metal and electrical industries. The lowest is considered the topic in logistics and wholesale.
Read here: The last great innovation from Germany? The car
"Made in Germany" could turn into a shop keeper, warned the economic expert of the Foundation, Armando Garcia Schmidt. And: "The more innovative a company, the greater the economic success and the more dynamic the number of employees grows." Schmidt called for an active economic policy, including investments in the classic and digital infrastructure