Bringing an innovative idea to life can be a costly business which can deter inventors or businesses alike from committing to the manufacturing process or indeed the initial design and research stages.
These days most are aware of crowd funding opportunities but this is often perceived as a complicated process. The reality is it is not as difficult as some imagine. The government and other bodies are very keen to promote innovation and design, there are plenty of other funding opportunities to consider as well as tax relief for start-ups.
Although we do not fund projects here at Hillside Product Design, we have a comprehensive directory of business angels and companies who regularly invest in new businesses who wish to develop their products.
The details and links below give an overview of the requirements to successfully obtain funding for your project, with more to follow next week.
Research & Development (R&D) Relief is a Corporation Tax relief that may reduce your company or organisation’s tax bill. R&D tax credits are the biggest single funding mechanism provided by Government for investment in business R&D.
The credit is made available in one of two ways: either as a tax deduction based on R&D spending or it may be possible for certain loss making small or medium sized companies (SMEs) to surrender their losses in return for a cash payment from HMRC.
Your company or organisation can only claim R&D Relief if it is liable for Corporation Tax.
Think of Get Set for Growth as adding world-class resources to your company. Their finance and marketing experts offer successful applicants invaluable commercial insights and direction, drawn from first-hand experience, to save you money and time. Whether your business is micro or multimillion, they can help you create or strengthen your marketing strategies in order to generate more money from more customers and work with you to secure finance to support your goals.
They are as ambitious as you are and with a range of funding partners, can make a big impact – for you, your business and the wider community.
The British Design Fund is an investment fund that specifically invests in, and provides support for early stage UK product design and manufacturing companies.
Hillside Product Design has further financial advice partners to get you set-up from the outset and help you fund getting your product to market. Just contact us for the most up to date information.
If you’ve got an idea you want to take to market, we will assist you through your journey. We work closely with all our clients to ensure they have all the support they need throughout the product development process.