In 2016, the federal and provincial governments of Canada paid out more than $4 billion to over 18,000 companies across Canada through the Scientific Research & Experimental Development (SR&ED) program. Designed as an incentive for companies to invest in innovation and technological advancement, the program can be a major competitive advantage for companies that file claims and receive cash refunds.
As part of our 1st Year Anniversary, to reflect on our accomplishments, we invited our clients to tell us about the service received since the relaunch of SBLR.
Companies that stay in business tend to do so because they are able to solve a need or fulfill a desire of their clients and customers. And businesses that have thrived over the long-term, tend to do so because they have constantly found ways to outshine the competition by designing a better mousetrap or creating more efficient process. But the curious thing is that very few of these creative entrepreneurs are capitalizing on their advancement or improvements.
One year ago, we re-established SBLR to better serve our entrepreneurial client base. Now, thanks to our great clients, we are happy to celebrate the completion of our first year. We have built many great relationships, and we look forward to strengthening them even further.
The proposed tax changes announced by the Liberal government on July 18th, 2017 have gone beyond tax fairness to actually proposing a tax environment that targets small business owners who are significant contributors to Canada's economic and job growth and success.