Research and development (R&D) isn’t a sole pivilage of the big corporations …
Small companies like Pangaea can also leverage R&D to improve processes, create new and better products and services, and increase their profit and competitiveness.
- R&D can help to develop unique products and services. These don’t always have to be entirely new. R&D can drive product improvement or innovation within the existing business offering.
- Unique products and services resulting from successful R&D projects can bring financial benefits to the business.
- Doing R&D we have cost implications as a small businesses. However, R&D can also offer many opportunities for businesses to seek public-sector innovation, research and development grants or even global funding and support for innovation.
- We can claim R&D tax relief to reduce our company’s tax bill
- Through R&D, we can develop an advantage over your competitors and establish yourself as a leader in the market. The development of new products and services can also generate new intellectual property for your business which could further benefit us financially.
- Collaboration can be a key element of any R&D project and is often crucial to achieving success. Collaboration can take place between our business and another enterprise, university or college. It allows for the transfer of skills and knowledge, and access to facilities, expertise and potentially new ideas that would otherwise be out of reach of our business.
- Engaging in R&D can strengthen our brand and reputation by collaborating with trusted, reputable partners aand/or scientific institutions, the commercial success of resulting products and services can benefit from those colaborations.