Friday, November 18, 2011

News: Rotherham companies learn more about support for R&D activity


Local companies got the opportunity to find out more about the financial support available for businesses undertaking research and development activity at a recent event.

The seminar organised by Rotherham Investment & Development Office (RiDO), the regeneration arm of Rotherham Metropolitan Borough Council, featured experts from Funding & Financials and Libcus Limited, and took place at RiDO's Fusion @ Magna business centre.

The event covered R&D Tax Credits that offer relief in the form of tax credits for companies involved in research and development, and R&D Grants give SMEs access to direct grant funding for projects from early stage feasibility studies to full development of pre production prototypes or production processes.

Joanne Flanagan, a partner in Funding and Financials, said: "Research and Development is vital to the recovery of the UK economy and this is being supported by UK Government initiatives in the form of grants and tax credits.

"It was great to hear of the exciting activity which is being undertaken in our region by local companies undertaking real R&D. I would encourage other companies to investigate the potential support from these schemes as they cover a breadth of projects from initial market research to full prototyping."

Andrew Nettleton, of RiDO's business development team, added: "We have a number of small businesses in the Rotherham area developing innovative products and processes in the advanced manufacturing, electronics and other hi-tech industry areas.

"It's important that we support them in the current challenging economic conditions, and events like this are designed to provide information and assistance and enable them to research and develop their products and processes as quickly and cost-efficiently as possible."

RiDO provides a professional and completely free service to both existing Rotherham based companies and new investors into the Borough. Its services include; property sites & premises searches; recruitment & training advice; helping establish supply chain linkages; and, ongoing business support & guidance.

RiDO is a partner in the South Yorkshire Sector Growth Enhancement Programme that is part-financed by The European Regional Development Fund (2007-13) in Yorkshire & The Humber. The programme aims to help accelerate private sector expansion and assist local businesses in achieving growth.

Rotherham Investment and Development Office


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