Start-up companies are a popular topic of conversation these days, especially in Southwestern Ontario. There are many resources for these new companies including government funding and tax credit programs. It is critical that these companies are made aware of programs and services that can help them reach their business objectives.
The Scientific Research & Experimental Development program becomes available to start-up companies once they hire new employees and develop a payroll system. It is critical that new companies develop tracking systems for their R&D work in order to develop a strong SR&ED claim. First-time applicants are more likely to be audited by the Canada Revenue Agency so it is very important that supporting documentation is ready and organized.
Government funding programs become available to companies that can demonstrate revenue, reach 10-15 employees, and develop at least a two year track record of success. It is critical that companies understand the programs that may be applicable to their projects or initiatives on an on-going basis.
Our NorthBridge team of business analysts can help identify eligible projects for both SR&ED and grant funding programs. We also assist with the completion of application information, preparation of financial information, creation of business plans, and required reporting after application submission.
