Tech breakthroughs drive business success - but how are you funding your tech investment?

05 September 2016

Technology is transforming the worlds of work and leisure – and even transforming itself - and PwC recently released a Tech breakthrough report revealing the top eight essential emerging technologies.

While these key emerging technologies, such as Blockchain, artificial intelligence and 3D printing, may not be a surprise to many in the know what may be a shock is how these technologies are influencing industries and sectors, from healthcare and financial services to industrial manufacturing and agri-food.

And it’s clear from the results of PwC’s latest survey that every business that wants to succeed, needs a technology strategy– over 75% of the business leaders surveyed are certain that technological advances will have the greatest impact on their business over the next five years.

So we know emerging technologies and tech advances are important - but how do businesses fund their investment in emerging technology? Particularly start-ups or SME who often struggle to obtain funding quickly?

Everyone knows there are a multitude of funding options available, each with varying degrees of complexity and success. However, not everyone will know that one of the simplest ways to receive R&D funding quickly is to make sure you are making an R&D credit claim – and if you’re an SME you could claim up to 33% cashback from HMRC. And, if you are advancing technology (or science) and facing technical challenges in doing so, you may well be eligible to make an R&D claim.

With PwC’s recently launched online Nifty R&D tool, checking your eligibility and making an R&D claim has never been easier – you can go online, check your eligibility using our online checker and then submit your claim to our R&D specialists for review. Nifty R&D is the quickest way to make an R&D claim with experts on hand throughout the process.

It’s clear that investment in emerging technology is going to be key to a successful business so its important businesses not only ensure they have a technology strategy but they are clear on all the options available to fund this investment.

If you would like more information on the Tech Breakthroughs report or Nifty R&D, please contact Rachel Moore on 01223 552276.

Rachel Moore

rachel.moore@uk.pwc.com / +44(0)1223 552276

 

 

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