Small Businesses Lack the Proper SR&ED Disciplines

It is a volatile world for businesses of all sizes these days. Small businesses seem to struggle the most to keep up. More often than not, in order to keep up with the dog eat dog world, small businesses are left cutting corners and missing out on great opportunities such as SR&ED claims.

Simply put, a smaller business equals a smaller staff and they don’t always have the time to create proper disciplines in regards to SR&ED tracking. Often these businesses find themselves too intimidated to hire a consultant that can take care of this problem for them, not realizing that a consulting firm isn’t selective in the least regarding claim sizes. Instead, these businesses are left trying to file their own difficult T661 form. Time is money and many small businesses find they don’t have the time necessary to track their internal research and development projects. The consultant needs information such as hours, wages, overhead, expenses etc. These businesses find they are stretched too thin to track all the necessary data. By using an SR&ED software designed specifically for all these issues, the business can save time and money and hand a thorough and easily readable report to their consultant. Clearly, investment tax credits are pertinent to small businesses. With the help of SR&ED software, and possibly a consultant, a business can maximize their profitability.

Posted: October 05th 2011 - Bookmark the Permalink