How to access grants and funding for small business in the South West and UK.
The typical businesses we work with at Concentric Dots are dynamic startups, or “step-up” businesses that have been going a few years and want to step up their growth now.
They know their market, have innovative and proven products or services, have some cash in the bank and want to systemise their business operations, and bring in people and partners to undertake tasks previously done by the founding team.
To help them scale we work closely with influential independent business leadership organisations like Business West, to help support and grow your business in the UK and overseas, with the help of grants and funding.
Our mission is to help our clients access grants and funding to provide a financial boost to their innovation, by helping secure funding, whenever possible, without diluting equity.
We deal primarily with UK and EU innovation grant funding and R&D Tax Credits.
We often find our clients need help to protect and exploit their intellectual property (IP) so we specialise in helping them get IP Audits.
It’s not unusual for our clients to overlook the allowable expense, and a tax benefit of training and coaching.
Training can be provided to an employee or director of a limited company and will be an allowable expense for corporation tax purposes, with no benefit-in-kind impact on the employee provided that the training concerned is a course or other activity designed to impart, instil, improve or reinforce any knowledge, skills or personal qualities which:
- Are useful to the employee when performing the duties of the employment; or
- Will better qualify the employee to perform those duties.
As long as our training programmes help achieve the above two benefits, they are allowable tax free business expenses.
If the training costs are quite large then you may be asked to justify to HMRC that your business will be benefitting from you or an employee undertaking the training.
We can help you document the business case outlining these benefits, so you have it on file should HMRC query the cost.
Talk to us about how we might work with you to secure funding.