Why R&D is a Business Booster

1. Why R&D is a Business Booster Research and development or R&D (as is its abbreviation), is the knowledge, development and enhancement that threads through a company and its team. Investing in research and development includes creating new products, updating old ones, enhancing services or elevating technologies. Immersing a company in R&D incorporates many segments of the business, including marketing, cost effectiveness and business strategy. But why should a company invest in research and development? How can it boost a business? -Productivity- R&D can catapult companies beyond their competitors because the productivity it can lead to is not easily matched. Often, research and development can improve the product or process that the business relies on, by making it more affordable or more fruitful. This makes the business more likely to prosper and overtake any competition. -Marketing and advertising- In certain businesses, R&D can be the best marketing tool because customers are always on the lookout for that shiny, new product or service. Honing in on research and development, in whatever scientific or technological bracket best suits your company, can be the best advert for your business - emphasising your brand new process, or a technology that’s never been seen before. In fact, putting together an artistic and creative marketing

2. campaign regarding the delivery of a new product (or an updated product) can boost interest and, therefore, sales by an incredible amount. -Tax relief and credit- Engaging your business in research and development opportunities can entitle you to R&D tax claims or R&D credit, of which Areande can help you with. If you’re pouring business money and time into improving and developing products or processes, Areande can help you make a claim to receive a cash payment or a reduction in your tax bill. So, your business will be booming without the extra costs. Let us help you, help the economy! -Morale and mood- The mood and team spirit within a company is vital for its growth. A company cannot flourish if its employees are not happy. And with a focus on research and development, it would be almost impossible for your team to lose morale. If company employees know that their employer is always doing what’s best for them and the business, providing them with the resources and programmes to learn more and hone their skills and keeping their interests peaked then the spirits within the business will be high. As R&D is also likely to boost business sales then employees are increasingly likely to receive a bonus too - which is always a lovely incentive! Many of the different angles of why a business should immerse themselves in research and development are clear. And R&D isn’t just about creating new and updated products. It can be research towards a new product or a scientific and/or technological means. Overall, R&D can enhance your company’s advertisements and marketing, bring costs down, boost productivity and keep your employees happy. So, why wouldn’t you? Contact Areande today to be rewarded for your company’s innovation!