The business environment in Guinea has been characterised by significant volatility and structural constraints, impeding sustainable investment in research and development (R&D). Despite its substantial mineral wealth, the nation has struggled to translate resource endowments into diversified, knowledge-based economic growth, with policy frameworks often lacking coherence and long-term strategic focus. This analysis aims to critically evaluate the evolution of R&D policy within the broader business environment, identifying key institutional and regulatory barriers. It seeks to propose a novel, integrated policy framework designed to stimulate private-sector-led R&D investment and enhance national innovative capacity. The policy analysis employs a mixed-methods approach, synthesising longitudinal data on business climate indicators, a systematic review of extant policy documents, and insights from structured interviews with key institutional stakeholders and firm representatives. A predominant theme identified is the critical misalignment between fiscal incentives for extractive industries and support mechanisms for R&D in non-extractive sectors. Specifically, the analysis reveals that less than 15% of national innovation funding is allocated to programmes fostering university-industry collaboration, severely limiting knowledge spillovers. The prevailing policy landscape has inadequately addressed the systemic failures constraining R&D, resulting in a continued over-reliance on primary commodity exports. A fundamental strategic reorientation is required to embed innovation as a core driver of business competitiveness. Policymakers should establish a dedicated public-private R&D fund with matched financing, reform intellectual property legislation to protect commercialisation, and introduce tax credits explicitly for incremental R&D expenditure within small and medium-sized enterprises. Research and Development, Business Environment, Policy Framework, Innovation Systems, Institutional Analysis, Guinea This article provides the first comprehensive policy analysis to integrate a behavioural finance perspective on risk perception, explaining how policy uncertainty disproportionately deters long-term R&D commitments by firms in Guinea.