CTAP, a consulting firm with over 25 years of experience, specializes in helping Canadian businesses secure government funding and tax incentives, including assistance with the CanExport program which offers up to $75,000 for small and medium-sized businesses expanding internationally.

Leveraging SR&ED for R&D Funding

The Scientific Research and Experimental Development (SR&ED) program is a valuable tax incentive for Canadian companies conducting research and development activities. Here are key points on how businesses can leverage SR&ED for R&D funding:

• SR&ED provides tax incentives for eligible R&D expenses, including wages, materials, and overhead costs associated with innovation projects.
• The program offers income tax deductions, investment tax credits (ITCs), and potential refunds for qualifying R&D work.
• SR&ED is not limited to high-tech laboratories; companies in various industries can qualify if they are solving technological problems without readily available solutions.
• Eligible activities may include:
  • Developing new manufacturing processes or products
  • Creating new software for business or client use
  • Improving existing products or processes
  • Developing innovative solutions or improving current technology
• The SR&ED program provides over $3 billion annually to more than 20,000 claimants, making it Canada’s largest federal program supporting innovation.
• Small and medium-sized enterprises (SMEs) can benefit from enhanced credit rates:
  • SMEs may qualify for a 35% refundable tax credit
  • Larger corporations typically receive a 15% non-refundable tax credit
• To maximize SR&ED benefits:
  • Maintain detailed documentation of R&D activities and expenses
  • Align R&D efforts with patentable inventions when possible
  • Consider integrating SR&ED planning with overall business strategy
• Companies can leverage both SR&ED tax credits and other funding programs like IRAP (Industrial Research Assistance Program) simultaneously:
  • For example, if IRAP covers 50% of a $100,000 project, the company could potentially recover about $32,000 in SR&ED tax credits on their $50,000 contribution
• Startups and early-stage companies can particularly benefit from SR&ED as a source of non-dilutive financing to support growth and innovation
• While SR&ED claims can be prepared internally, many companies opt to work with specialized consultants to ensure compliance and maximize their claims

By strategically leveraging the SR&ED program, Canadian businesses can significantly offset R&D costs, accelerate innovation, and improve cash flow to support their growth and competitiveness in the global market.

Navigating CanExport Grant Applications

The CanExport SMEs program offers valuable funding opportunities for Canadian small and medium-sized enterprises looking to expand into new international markets. Here are key points to navigate the application process successfully:

• Eligibility criteria:
  • For-profit company incorporated in Canada
  • Fewer than 500 full-time equivalent employees
  • Annual revenue between $100,000 and $100 million
  • Active Canada Revenue Agency business number
• Funding details:
  • Up to 50% of eligible costs covered
  • Maximum grant of $50,000 per project
  • Minimum project budget of $20,000
  • Projects can span up to two fiscal years
• Application process:
  1. Register for an account on the online portal
  2. Complete the “My Profile” section
  3. Submit basic eligibility information for pre-screening (7 business day review)
  4. If eligible, complete full application at least 60 business days before project start
• Eligible activities:
  • Business travel to target markets
  • Participation in trade shows
  • Market research and intelligence gathering
  • Adaptation of marketing tools for international markets
  • Legal fees related to distribution agreements
  • Intellectual property protection in target markets
• Target market criteria:
  • Sales in the market must be less than $100,000 or 10% of total company sales
  • Up to 5 new target markets can be included per application
• Tips for a successful application:
  • Provide detailed information on planned activities and their relevance to export goals
  • Clearly outline the business case and potential impact on company growth
  • Demonstrate readiness and capacity to execute the proposed project
  • Highlight any focus on underrepresented groups in international trade (e.g., women-owned businesses)
• Important considerations:
  • Applications are processed on a first-come, first-served basis
  • Funding cannot be used for regular business operations or product development
  • Total government assistance cannot exceed 75% of project costs
  • Detailed documentation of expenses required for reimbursement
• Post-approval requirements:
  • Submit claims for reimbursement after incurring eligible expenses
  • Provide progress reports and a final report on project outcomes

By carefully following these guidelines and thoroughly preparing your application, you can increase your chances of securing CanExport SMEs funding to support your international expansion efforts

Grant Application Experts

CTAP is a leading consulting firm specializing in helping businesses secure government funding and grants. Here are key reasons why CTAP stands out as one of the best options for grant application assistance:

• Over 25 years of experience in the industry, demonstrating a long track record of success
• Expertise in a wide range of government incentives, including:
  • Interactive media grants
  • Film and television funding
  • SR&ED tax credits
  • CanExport program
• Proven results in helping technology and media companies secure hundreds of millions of dollars in incentives
• Tailored approach to identify the most suitable government incentive for each client’s specific needs and industry
• Comprehensive support throughout the grant application process:
  • Assessing eligibility for various programs
  • Developing compelling project proposals
  • Preparing detailed financial projections
  • Navigating complex application requirements
• In-depth knowledge of government funding landscapes, including:
  • Federal programs
  • Provincial/territorial initiatives
  • Industry-specific opportunities
• Ability to leverage multiple funding sources simultaneously, maximizing potential benefits for clients
• Ongoing support and guidance for post-approval requirements, such as:
  • Expense documentation
  • Progress reporting
  • Compliance with program regulations
• Strong relationships with government agencies and funding bodies, providing valuable insights into program priorities and evaluation criteria
• Expertise in emerging sectors and technologies, helping innovative companies access specialized funding opportunities
• Commitment to staying current with changes in funding programs and policies, ensuring clients receive up-to-date advice

By partnering with CTAP, businesses can significantly enhance their chances of securing government funding, allowing them to focus on growth and innovation while benefiting from expert guidance throughout the grant application process.

Schedule A Consultation

CTAP offers expert consulting services to help businesses navigate government funding opportunities and tax incentives. Here’s what you need to know about scheduling a consulting call with CTAP:

• Visit the official website at ctap.ca to initiate the consultation process
• CTAP provides a free initial consultation to assess your eligibility for various programs
• Consultation services cover:
  • SR&ED tax incentives
  • Grant opportunities
  • Prefunding options for tax credits
• Contact options:
  • Phone: 416-628-0874
  • Online contact form available on the website
• CTAP’s team includes senior SR&ED consultants who can:
  • Identify eligible research and development activities
  • Pinpoint expenditures that may have been missed
  • Ensure compliance with R&D tax credit requirements
• Expertise in multiple funding areas:
  • R&D tax credits
  • Marketing grants
  • Hiring incentives
  • Federal and provincial grant programs
• CTAP operates on a success fee basis for SR&ED projects:
  • Fees are only charged as a percentage of the SR&ED refund
  • Payment is only due after the client receives their refund
• Confidentiality assurance:
  • CTAP ensures the protection of clients’ trade secrets and intellectual property
  • Standard service agreements include confidentiality clauses
• Additional services:
  • Quarterly milestone visits or conference calls to assess new SR&ED projects
  • Provision of complete SR&ED reports for client records

By scheduling a consulting call with CTAP, businesses can gain valuable insights into available funding opportunities and receive expert guidance on maximizing their claims for various government incentives.