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That is one of the key findings of the latest innovation survey carried out by the CBI in partnership with 3M and the Design Council.
The survey of over 400 companies also highlights potential weaknesses in the abilities of UK companies to innovate.
John Mitchell, managing director of Allvoice, a developer and reseller of voice recognition software applications, was not surprised by the survey results.
He claimed many UK firms, including IT resellers, were "limited in where they have opportunities to innovate because of the monopolies in place by certain large vendors".
Allvoice has been involved in a long-running dispute with IBM over software features it provided for one of the vendor's products and never received recognition for.
"The problem is that smaller companies are frightened to innovate in certain sectors because of the larger companies treading on or taking over their ideas," said Mitchell.