Posts Tagged ‘Manufacturing’

Workshop- Grow Your Business with Government Funding

Are you a manufacturing, technology, or food processing company with operations in Canada?

Sourcing funding from SR&ED tax credits, government loans, and direct government incentive programs can help accelerate your company’s expansion.

Attend this workshop to learn from government funding experts about your eligibility for various funding programs and to learn how to secure funding from these opportunities.

Ideal for owners and executives who want to learn about:

  • Types of government funding opportunities;
  • Eligibility for financing, funding, and tax credits
  • How to apply for government funding
  • Optimizing your returns from multiple government funding programs

Event Details:

Speaker:
Gerry Fung, CPA CMA, P.Eng.
VP of Business Services at NorthBridge Consultants

Date & Time:
Thursday, September 21, 2017
2.00pm – 5.00pm

Location (pending venue confirmation):
Sheridan College – Hazel McCallion Campus.
4180 Duke of York Blvd, Mississauga, ON, L5B 0G5 (MAP LINK)

Tickets:
$99 (non refundable)

To register, please visit www.grantx.ca or call 416-524-7743/416-827-5189
Email info@grantx.ca or outreachforcecanada@gmail.com

 

Presented by Grantx Inc., NorthBridge Consultants, and Outreach for Canada.

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Upcoming FABTECH 2015 Event in Chicago

With only a few days left before FABTECH 2015 opens its doors, don’t miss an opportunity to participate in North America’s largest metal forming, fabricating, welding, and finishing event.  Since the show first launched in 1981 with 161 exhibitors, FABTECH has continued to grow as a world class platform for the exhibition of the latest manufacturing technologies and innovations; according to show co-manager, John Catalano, it is where “some of the best minds in manufacturing come to share their perspectives.”

This year, the four day FABTECH expo will be hosted from November 9-12, at McCormick Place in Chicago, IL and will feature an extensive lineup of distinguished keynote presentations, featured expert panel sessions, seminars, conferences, and educational sessions on cutting, finishing, forming & fabrication, management, job shop solutions, automation & robotics, stamping, and tube & pipe.  FABTECH will also feature several special programs including a Robotic Arc Welding competition, an AWS Professional Welders competition, and a Welding Wars competition.

FABTECH will also be hosting another conference, FABTECH Canada 2016, a premier event that brings Canadian buyers and sellers together to share knowledge and build relationships with key decision makers.  Since their expansion into Canada in 2012, FABTECH has been instrumental in supporting Canadian fabricating, metal forming, welding, finishing and associated industries. We will be posting further details about this event in 2016.

The FABTECH 2015 advance registration deadline for free admission is Friday, November 6.

Application Intake Soon Closing for Growing Forward 2

The second intake of Ontario Growing Forward 2 (GF2) applications for 2015 will be closing on August 27th, thus marking the sixth intake round of applications since the start of the program.

Canadian agri-processors and producers will have another chance to apply for the GF2 program in the third and final 2015 intake, which will be open from November 16 to December 3, 2015.

Growing Forward 2 is a national-provincial initiative providing cost-share funding assistance of up to $350,000 to businesses who are actively processing, modifying, or transforming agricultural commodities, food, beverages, or agricultural-based bio-products in Ontario.

Since the program opened in 2013, 237 projects have been approved for a combined total of $22.62 million.

In April 2015, a few revisions were made to the program which is now merit based. These updates include:

  • Funding opportunities are now combined under a single program.
  • Cost-share project limitations have been introduced for each Project Category.
  • Funding is now only applicable to invoices dated after an approval letter for funding has been issued by OSCIA.

Stay tuned for any news or updates to the GF2 program as well as other funding opportunities to help you stay ahead of the curve.

Our business analysts and technical writers here at NorthBridge look forward to working with you and your company to determine the full extent of project eligibility. NorthBridge can offload the work from you, allowing you to focus on business operations.

Linking Government Grants to SR&ED: Business Expansion

In order to sustain a thriving economy, the government of Canada continually invests in business growth and expansion through various direct and indirect sources of funding. Over the past five years approximately 35% of Canadian gross domestic expenditure on R&D was financed by both direct and indirect government funding initiatives. Although the majority of financing is in the form of indirect funding, such as the SR&ED tax credit program, the Canadian government has recently increased emphasis on direct government funding sources such as repayable and non-repayable grants. Direct and indirect funding sources can work together to provide solutions for business growth at various stages of advancement from product development to global market expansion, thereby, enabling businesses to continually improve and grow.

Large-scale business expansion projects may be eligible for direct funding in the form of a repayable, interest-free loan through the Investing in Business Growth and Prosperity (IBGP) program. The IBGP program helps established business with global market share potential and innovative prospects to increase competitiveness and growth as well as create jobs by supporting the implementation of new technologies/ processes in addition to expansion of existing markets and facilities.

After the expansion project is complete, eligible SR&ED expenditures related to experimental development can generate indirect funding via Investment Tax Credits (up to 35% of eligible expenditures for CCPC’s and 15% for foreign owned/ public corporations) for costs already incurred. This provides a source of annual funding or tax savings that can be re-invested into innovation and growth.

Various funding opportunities may be leveraged in conjunction to suit the specific objectives and needs of your company. Our NorthBridge team of business analysts can help identify eligible projects for both SR&ED and grant funding programs. We also assist with the completion of application information, the preparation of financial information, the creation of business plans, and the required reporting after application submission.

NorthBridge Success Story: Ontario Manufacturer Leverages SR&ED Program to Compete in Automotive Industry

The automotive industry is constantly changing and seeking new innovations in product development in order to satisfy the ever-growing demands of consumers. One of our manufacturing clients in Ontario continuously develops highly innovative products to remain competitive in this industry; NorthBridge engaged with them to help optimize their refundable tax credits from the Scientific Research & Experimental Development (SR&ED)  program. NorthBridge helped train the employees to become compliant with SR&ED best practices, to generate contemporaneous documentation,  and to track eligible costs, which included materials consumed, direct labour, and subcontractor expenditures.

With the help of NorthBridge’s team of engineers and technical writers, the client was able to submit a detailed claim that was accepted as filed within a short duration of time following submission. This funding will allow the company to continue to invest in innovative automotive products and to remain competitive in the industry. Because of NorthBridge’s assistance and ongoing training, this manufacturer was able to increase their SR&ED claim expenditures for the current fiscal year.

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