Why not set yourself up for success, by instead putting all your energies into giving your business a health boost?
Finding the right funding solutions to accelerate and fund your innovation could be the much-needed tonic for your business...
Follow these tips to make your company (and yourself!) financially healthier:
1 - Detox your habits
Time to take a closer look at your day-to-day activities! Could you be carrying out R&D without realising it? Are you pushing the boundaries and thinking outside the box? Pouring money into trying new things to improve your products and services? Sometimes failing? If you can answer yes to any of these questions then you may be doing R&D. Which means that you could be eligible a range of innovation funding and tax incentives, giving your company a nice healthy financial boost.
2 - Embrace the art of decluttering
How? By keeping track of staff time... Knowing what your staff are spending their time on is, of course, just good business sense. However, when it comes to making the most of all the tax incentives available to your business, it’s more important than ever to keep track – the biggest cost in the majority of claims is staff – and having an accurate record of what every member of staff has worked on in a year will help make sure you maximise your claims. Setting up a tracking system could be the decluttering action that your business needs to succeed.
3 - Some is good, more is better
After your innovation funding claim has successfully gone in, resulting in a nice financial boost for your company, make sure you reinvest in more innovation! Now is the time to flush out those stagnant old methods and look at reinvesting in more R&D and innovation, thus creating a never- ending loop of financial rewards for your business.
4 - Keep going
Don’t make claiming R&D tax incentives just another failed resolution. Turn it into a habit that you keep up with year-on-year, continually claiming and reinvesting.
5 - Don't go it alone
It’s always easier to keep to stick to good habits with support, so let ABGI- UK be your detox support group!
ABGI is one of the world’s leading tax incentive and innovation management advisers. With a 30+ year heritage and 200 experts & advisers we manage +£1 billion of global tax incentives annually for a broad range of clients including some of the world’s best-known brands.
Our aim is to help clients accelerate and fund their innovations. We operate on the entire value chain of innovation through our multidisciplinary international teams.
We specialise in helping companies who are looking to optimise their claim, experience a better service or pay a more competitive price – this leads to maximised, robust and defendable claims, reducing risks, time and effort for you.
WHATEVER INNOVATION FUNDING CHALLENGES YOU FACE, IN THE UK OR INTERNATIONALLY, WE CAN HELP.
FOR A FREE R&D TAX CREDIT CONSULTATION AND ANALYSIS OF THE POTENTIAL RETURN YOU MIGHT EXPECT FROM YOUR PROJECTS, CONTACT THE ABGI-UK TEAM