Do summer activities in your business create opportunities for SR&ED money or Government grant funding?
If your immediate answer is “YES”, you may skip this section.
If your immediate answer is “NO”, you may want to re-think based on the following couple of examples.
- Do you plan to have a Summer Plant Shutdown during which you will do Predictive/Preventative Maintenance activities, make equipment upgrades, launch new products/processes, install new equipment, implement CI ideas, etc.?
- Does the summer heat and humidity have a negative or varying effect on your manufacturing materials or equipment performance and you have projects to address this?
- Are you working on Diversifying your Product Line and or expanding your Market reach?
- Are you recruiting new employees or Developing/Advancing current employees?
In any of these cases, if you are required to do developmental work to address these issues or opportunities, you very likely have projects and associated expenses that will qualify under the criteria for the SR&ED Program - a Tax Credit/Refund to help offset your labour, overhead, material and sub-contractor costs.
Be sure to take advantage of the SR&ED Program, as many Manufacturers do, to make sure you receive your share.
If you are recruiting, developing employees, growing your market there may be grants available to you to support your initiatives. Don’t miss out!
I am sure there are some good stories out there as to how heat and humidity effect your plant performance. My favourite story goes back to my GE Lamp days when light bulbs would rain down on the floor because the drum feeders would get sticky and the bulbs would jam up. Or, on the packing lines the cardboard packing sleeves would stop opening properly and out would come the brooms to clean up the broken glass strewn across the floor.
Please feel free to share any stories you may have, and better yet, how you were able to submit a SR&ED claim or grant submission to help with the expenses of identifying, developing and implementing a solution.
If you have any questions, please feel free to reach out to me anytime.
EMC Field Service Advisor