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SR&ED and the Winds of Change

December 20, 2018 Ross CooperSR&ED 47 Views

WOW!!, 2018 has again been a year of rapid and significant change; “The Winds of Change” seem to have increased to an all out Gale Force. Political swings, Regulator changes, Global Disruptions, Tariffs, Sanctions, Huge Technology shifts (AI, 3D printing/additive manufacturing, IoT, Autonomous Vehicle, etc.). As always though Canadian Manufacturers are driving head on into the wind. Conversation after conversation have highlighted just how much growth and innovation is being accomplished by Manufacturers. Product and Market Diversification is driving the absolute need for New Products, New Equipment and Processes, improvements resulting from Continuous Improvement activities, Cost Reductions, Quality Improvements, Yield Improvements, etc., etc. and the list goes on. In addition, the focus on Health and Safety, Environmental Impacts, Employee Engagement, Risk Assessment and Contingency Planning, Energy Reduction, Employee Development and Training, all facets of a manufacturing business that are continuing to receive heightened attention and with huge success. How exciting it is to walk the plant floors and see the results of all these activities.

And anyone who doesn’t believe that Canadian Manufacturers are not meeting the challenge and making great advances just needs to take the time and opportunity of visiting other EMC Members- attend an EMC SIG!!

The great news is that the SR&ED program along with Government Grants continue to pump significant $$’s back into Canadian manufacturing, supporting innovation; Innovation of new products, product enhancements, improvements supporting the constant drive for improved quality, lower cost and increased customer value. SR&ED Tax Credits/Refunds and Government Grants are helping companies remain competitive and viable in this ever-changing environment.

As always, if we can assist in any way with understanding these programs or help with ensuring that you are getting the best possible benefit ($$), be sure to let us know. So like some 200+ of your peers that have taken advantage of this EMC Value Added Program, if you haven’t already, all you have to do is ask.

I would like to take this opportunity to thank all those that I had the chance to speak with during the year and in many cases to also tour your plants and especially for the sharing of all the good things you have going on. In return, hopefully the information and suggestions we have been able to share have been worthwhile and in the case of our Value Added Programs have netted some significant $$$ for your business.

As you all spend time with Family and Friends over the holiday, hopefully you are able to find the time to just sit back, relax and enjoy.

All the best over the Holidays and looking forward to seeing many of you again in the New Year!!