In 2020, firms expected their innovation expenditures to decrease by about 2% in 2020 compared to 2019. This decline is … much smaller than that in 2009 following the financial crisis, when innovation expenditures fell by 11%. However, smaller … firms with 5 to 99 employees planned to cut their innovation expenditures by 7% to 17 % in 2020. For 2021, firms planned a …