What is the Key to Cutting Your Innovation Costs?

What is the Key to Cutting Your Innovation Costs?

Continuing to invest in your business is key to enduring hard times and staying ahead of the competition. But funding such ventures can be tricky.

Research and development (R&D) can be expensive and isn’t guaranteed to pay off, especially not in the short term.

In the wake of the economy’s recent downturn and continued financial turbulence, how can businesses afford to stay ahead of the curve and prepare for their new reality?

Manufacturing Matters speaks with Luke Sampson, Managing Director of Invo Capital.

Making the Right Decisions

Luke and his team work closely with their clients to ensure that they are making the right choices to increase their chances of achieving government cash incentives.

“We take a proactive approach by working with clients throughout their decision-making process.”

“Because we make decisions in real-time, with our clients, there’s more that we’re able to do, rather than seeing them 12 months down the line and acting retrospectively”

Luke Sampson, Invo Capital

“This level of close-consultation can make a big difference when it comes to making the most of your R&D funding.”

“For a start, it opens up opportunities to apply for innovation grants, which can be even more lucrative than the standard 25%-33% return from R&D tax credits.”

Keeping Close Contact

“We recently worked with a client that had a budget of £100k, but their software project didn’t meet the criteria to achieve an R&D tax credit claim,” describes Luke.

“We assisted them in modifying their project slightly.”

“Although the development cost an additional £5000, it enabled them to get 33% of the total spend back,” concludes Luke. “It was a no-brainer!”

Whilst it’s good to work proactively, it’s worth knowing that businesses can claim R&D tax on any innovative project that’s been completed in the last two accounting periods, which could be equal to 3 years.

Invo Capital offer free one-hour consultations and work on a no-win-no-fee policy. Contact them to discuss how you can invest in your business, for less by:

For an accompanying read, please visit Invo Capital Builds Your Competitive Edge in the Age of Innovation.

Having trained as a journalist with the UK's national news agency, the Press Association (now known as PA Media), Thomas is an accomplished writer with his work published in several business, entertainment and special interest magazines.