Creating a defendable position
It’s a very competitive world out there. Small and medium businesses in Australia need to carve out a defendable position in the market to survive and prosper.
One way they can do that is to develop something that is unique to them. And that necessitates research and development (“R&D”).
Now, that’s not necessarily an easy decision to take. Keep in mind that it requires a person having relatively modest means to commit to spending an amount of money now and throughout the project, with the hope that it will generate a sufficient return and create a defendable position in the future. The amount and timing of cash flows becomes super important.
Yet, by its very nature, R&D involves the creation of something new; something that hasn’t been done before. So so there is no guarantee that you will succeed, nor that the budget you originally set will prove to be enough.
It’s a big risk to take (but then again, so is standing still as the world changes around you).
So, I’ve got good news for those brave souls who are having a crack at R&D.
Thanks to the Government’s R&D tax incentives (you can read more about those here), part of that risk can be defrayed.
I am really pleased then, that with the addition of Alan Baghdasarayan to our team we can now assist clients to identify which of their activities might qualify as R&D and if they do qualify, to get their share of the incentives on offer.
With so much focus on innovation and Industry 4.0 there has never been a better time to invest in your own R&D.
Call us on 1300 656 141 or send a message to firstname.lastname@example.org to start a conversation about R&D tax incentives.