Growth Funding & R&D Tax Credits
Raising Business Finance
Raising Business Finance for growing companies can be daunting and time consuming, Sincero are here to guide you through the growth funding application process.
Business Loans there is a vast array of funding providers and business loans available on the market, we will find you the one that best fits your needs.
Invoice Finance is a flexible form of funding, which releases cash tied up in outstanding customer invoices, the client receives up to 90% cash advance of invoice value with the remainder paid when customer pays. There are 5 different types of invoice finance available.
Factoring enables you to access cash tied up in invoices and includes credit control, chasing and collecting outstanding invoice payments.
Invoice Discounting similar to factoring but the client retains control of their credit control activity.
Spot or Single Invoice Finance is a recent development in the invoice finance industry allowing customers to select only the invoice they want to finance.
R&D Tax Credits
The Research and Development (R&D) Tax Relief Scheme is a Government initiative, created to reward and encourage UK companies to invest in innovation. In reward for the risk-taking companies can claim a Corporation Tax reduction or refund.
According to recent statistics published by HMRC, 2017-18 shows SME’s in the North East are missing out on R&D Claims more than other UK regions.
Who Qualifys?
A qualifying project could create or significantly improve a process, material, device or product which increases knowledge or capability in a field of science or technology. There is a common misconception that qualifying activities are limited to pure research by technicians in laboratories; this is not the case.
Any kind of innovation may constitute qualifying activities. If the answer to any of the following questions is yes, then a claim may be possible:
- Have you automated previously manual processes?
- Have you modified manufacturing processes, maybe for specific customer requirements?
- Have you developed new products or upgraded/refined existing products?
- Have you devised bespoke software for a particular purpose?
- Do any of your technical staff undertake research/problem solving?
- Are you market leaders in your field?
- Have you created patents over any of your products?
The average claim is £28,500 but we have many customers receiving over £100,000 per year.
The Research and Development claims are made on a ‘No Win, No Fee’ basis
To find out eligibility and qualifying projects, visit our partner website Access2Funding
Funding solutions to grow your business
Ready to find out how we can help your business develop and grow?
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