Many companies who perform work that is eligible for the Scientific Research and Experimental Development (SR&ED) program choose not to participate due to time constraints. It is one of the ironies of the SR&ED program that the very companies that are pushing the technological envelope are often so busy innovating that they don’t have time to apply for the funding they are entitled to! The engineers and technical writing staff at NorthBridge can take much of the weight off of your shoulders by identifying eligible projects, providing templates for project tracking, and building technical narratives using the details your staff provides. However, it is also important for your business to have a strong internal “SR&ED Champion” to coordinate your SR&ED efforts.
At its most basic, the role of the SR&ED Champion is to keep SR&ED on your business’s “mind” at all times. He or she works to spread awareness of the SR&ED program throughout the company and ensure all technical staff have at least a basic understanding of what the program entails. It is up to him or her to provide the right staff with the instruction and the templates necessary to ensure all eligible projects, activities, and expenses are identified and tracked. In the event of a financial or technical audit, the SR&ED Champion must take centre stage to defend the claim; thus, it is vital that he or she has an intuitive understanding of key concepts such as “technological uncertainties” and “technological advancements” as they are understood by the CRA.
The SR&ED champion is often the business owner or president, but could also be (for example) the R&D manager, engineering manager, or financial controller. Whoever your SR&ED Champion is, it is essential that he or she is fully committed to the program and has the time and energy to act as the point person for your claim. For more information on choosing or becoming a SR&ED Champion at your business, contact us today.