Congratulations to all those shortlisted in the British Small Business Awards, Innovation of the Year category.
This category aims to reward the most ground-breaking technology, product or service that has been responsible for strong revenue growth in a small company (1-50 employees) over the past year, as deemed by the judging panel.
The Innovation of the Year finalists are revealed as:
Hotun, RA Tech Ltd
Ace Innovation Ltd
Synergy Grill, Active Food Systems
BlueCube: Barnbrook Systems
According to a report earlier this year from the government’s Department for Business, Innovation and Skills, levels of innovation among UK SMEs have increased significantly in recent years.
R&D Tax Credits for Innovation
UK Chancellor Philip Hammond commented recently that Britain is a world-leader in innovative industries adding that the UK is “in prime position to lead the way … thanks to our tech-friendly environment, highly-skilled workforce, top-ranked academic institutions, and our superb research and development (R&D) sector – which already contributes more than £30 billion to the UK economy."
Statistics from HMRC show that the £21.8 billion of research spending in the UK last year was helped by £2.45 billon of government tax credits designed to boost ambitious smaller companies. This clearly indicates that R&D tax credits are encouraging businesses to innovate and progress. What is clear, however, is that a lack of awareness and understanding could be preventing SMEs from claiming.
Whilst the rules can be complex, our Beavis Morgan team of R&D experts can maximise the value of any potential claim. Speak to us today to set the benefits in motion. Our proven methodology offers a painless approach towards obtaining R&D tax credits.
Contact Steve Govey or your usual Beavis Morgan Partner.
About the British Small Business Awards
The British Small Business Awards, taking place on October 20th at the Grand Connaught Rooms, London, is a leading celebration of the UK’s small business sector, recognising the nation’s best sole traders, micro businesses and small companies – as well as the services providers and advisers that support them. For more information, please visit the British Small Business Awards website here.