There are many government grants and other sources of funding and financial support for small businesses. It may be a simplistic view, but I like to think of all of these as free money for businesses. This article will describe a few of our favourite free money options.
The Scientific Research and Experimental Development program, SRED for short, is a tax incentive program designed to encourage Canadian businesses of all sizes and in all sectors to conduct research and development in Canada.
This article will help you to understand:
If your business is eligible to claim SRED tax credits
What types of expenditures qualify for the program
How to claim SRED credits
How much you can expect to receive from the SRED program,
Costs of claiming SRED credits and other factors to consider.