For many businesses, the key to success is keeping a competitive edge. In a time where technology is constantly evolving, keeping that edge has never been more important. But that doesn’t make it any easier to hold on to.
Whether it’s maximising the efficiency of your company’s workflow, optimising output, creating new products or upgrading current ones, research and development comes at a cost. It takes time, manpower and above all, money.
Could the businesses that aren’t focused on an R&D strategy be at greater risk than they realise?
“Most manufacturing companies are always, in some regard, at threat from disruptors”
Luke Sampson, Invo Capital
“There’s always a risk that another company will develop new machinery or adopt some novel technology, such as artificial intelligence, which makes their processes more efficient.”
“When this happens, their costs become lower and other companies can’t compete.”
Fortunately, with the government’s ambitions to make the UK the most innovative country in the world, there’s plenty of financial support for those willing to dedicate resources to researching and developing new technologies.
“By working with businesses to reduce the cost of research and development, we help companies stay competitive and maximise profits.”
“What’s more, is that companies can claim R&D tax relief on any innovative project that’s been completed in the last two accounting periods, which could be equal to 3 years prior,” concludes Luke.
Invo Capital operates on a ‘success-only’ fee basis, and offer free consultations.
Discover how Invo Capital can help you to take advantage of R&D grants, tax credits and Patent Box tax relief by: