January, 2010

Message from CEO

What a Year 2009 Was!

We all had our struggles in 2009 due to the rough economy, but by the end of the year things definitely started looking up – employment across Canada rose (both full-time and part-time) after steady decline (the unemployment rate in November alone fell by 0.1%), the average hourly wage rose 2.3% from where it was a year ago, and Canadians are optimistic that the economy will continue to improve over the coming year. This has definitely been a year of challenges and changes that our businesses have had to face head-on.

Of course, with these challenges comes the opportunity to improve or develop new innovative products and processes, and we’ve seen a lot of our clients taking full advantage of this exciting opportunity!

As for the SR&ED program, the CRA released a new T661 form. This new form brought about some changes in the way that companies filed for the SR&ED program. Northbridge embraced these changes and has been successfully assisting our clients with adjustments that have needed to be made with the claim process.

Northbridge Consultants has been quite busy this year: not only have we started holding regular seminars, we have also started hosting small monthly Lunch ‘n’ Learn events to get to know those in the communities we work in. As well, the Canadian Manufacturing Technology Show was held this fall, and we were thrilled to be participating in it. We always look forward to all of these events, as it brings us the opportunity to meet with new people and share how beneficial the SR&ED program can be for both Canadian companies and the Canadian economy.

Our Eastern office was opened in 2009, and we now have a great team of dedicated engineers in our new office to support our clients in Atlantic Canada.

This past year has also seen exposure for us in numerous magazines, including Exchange Magazine, Image Makers Magazine, Food Safety and Quality Magazine and Canadian Plastics.

With the exciting year that we have had for 2009, it’s hard to think how an upcoming year could top this, but we are confident that there are only good things to come in 2010.

The Northbridge team sincerely wishes you a very happy and successful New Year.

Best Regards,

Sol Algranti
President & CEO
Northbridge Consultants

Employee Spotlight: Ajay Sinha

PositionVP Operations

Educational BackgroundB.Sc. in Industrial Engineering from Univeristy of Toronto 1990, Executive MBA from Queen's University 2002

Professional Memberships and DesignationsMember of Professional Engineers Ontario since 1993.

Years in the Industry15 years working in SR&ED industry

Hobbies & InterestsAjay enjoys remote control airplanes/cars/etc, reading success stories of other entrepreneurs, spending time at the cottage, travelling, swimming, and running..

Biggest Non-work-related AccomplishmentHis son Riano, achieving black belt in Karate, meeting his wife who has just run with the Olympic torch for the second time in her life while being 8 months pregnant on Dec. 16, 2009.

Testimonial

"I was skeptical when I was first introduced to the SR&ED program. I went to an information session put on by Northbridge. There were no promises made but Northbridge was more than happy to schedule time for a site visit to see if they thought it would be worth my while to put together a claim. Before their arrival I compiled a list of potential projects that I thought would serve as good SR&ED material. Northbridge took my list and expanded it into process that I had not seen or considered.

The time that I spent on my SR&ED claim was insignificant compared to the reward for my efforts. My experience with the whole SR&ED process has been a positive one. I plan on increasing my time and efforts spent on new projects and improving processes so that I can continue to grow the company and get funding back through SR&ED annually."
- Simon Wilby – Plant Manager Colonial Manufacturing

Colonial Manufacturing Ltd. is a well-established moulding and millwork company located in Fredericton, New Brunswick. Established in 1981, the business has grown to a supplier of fine products throughout Atlantic Canada.
www.colonialmanufacturing.com

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Although we endeavor to ensure timely and accurate information throughout this newsletter, it is not intended to be a definitive analysis of legislation cited, or a substitute for professional advice. Readers are encouraged to seek professional advice when attempting to relate their specific situations to information disclosed within.