Surviving During the Economic Slowdowns



Posted: Thursday, October 30, 2008

by
Science Experts Consulting

If your business depends on investments, you probably noticed that those are tougher to get than before. Also, you probably feel that your clients are tightening their belts and minimizing their current budgets.

Developing a strong company foundation requires a unique ability to survive during economic slowdowns and a lot of energy to prevail at its peaks. And surviving could mean many things such as keeping your work force, which you selected and trained so hard for those past years, maintaining a strong visibility by retaining your marketing complains, or simply paying your bills. In one way or another, you may start thinking just outside the box', looking for alternative sources to maintain your cash flow intact.

As in almost every situation, information is the key to success. One of the sources for government funding is a Federal SR & ED tax credit program which is the largest source of a government support for companies that develop a new or improved products or processes.

Canadian tax credit system is not limited to any particular industry sector and can be effectively exercised by software and hardware vendors as well as corporations involved with manufacturing and production.

So how can companies benefit from filing for SR & ED tax credits?

Generally, Canadian Controlled Private Corporations get a government cheque, which may significantly exceed the initial expectation of their business owners. The amounts depend on the nature and types of expenditures that directly relate to your R & D activities.

Such expenditures may include salaries of your technical staff, subcontracting costs, costs of materials and equipment, and even the salaries of your first level management.

For more information on SR & ED benefits, please contact Dmitry Shparber, 416 548

7899x307 or visit http://science-experts.ca
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Top-level comments on this article: (1 total)
» left by Sandra E. Graham
 3 years 75 days ago.
248 fans.
Interesting well-written article. We are all here concerned about surviving an economic slow-down (or much worse). Thanks for sharing Dmitry and welcome to searchwarp.
 
Sandra
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