Nicole Ballantyne and Kevin Bailey, both experts Jumpstart, a R&D tax relief specialist consultancy firm, explain how companies can navigate the complexities of available benefits.
R&D is at the heart of every successful business, but perhaps especially those operating in the fine and speciality chemicals industries where you’re pushing technological boundaries on a daily basis.
Whether you’re involved in reformulation for regulatory reasons or to enhance product functionality or stability, developing new products using novel active ingredients, or developing new or improved industrial synthetic routes to manufacture products, R&D is a platform that can catapult companies onto the path to success.
R&D drives business growth and can give companies a leading edge in today’s ever more competitive global market, but these benefits don’t come cheap. Yes, R&D can be a costly exercise. Fortunately, help is at hand. And plenty of it, if you just know where to look.
Government support, be it in the form of tax incentives – like R&D tax credits – or funding through Local Enterprise Partnerships (LEPs), can help lighten the load. So it’s surprising that more speciality chemical businesses don’t make the most of the considerable help available.
Artcile originally published on Specialty Chemicals Magazine
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