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.
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.