One topic I’m considering at the moment is ‘Project Based Accounting Vs Statutory Accounting’.
When it comes to innovation. It’s all about the project.
You’ll find that your staff innovate for a portion of their time. With different staff innovating to a greater or lesser extent or your project depending on roles.
Neither support workers nor core innovation team members innovate continuously unless it is our core job. But very few firms employ dedicated innovation specialists.
Sub contracted workers are eligible for Innovation, sub contracted work whereby the task is externally managed is classed at up to 65%.
There are many rules and regulations surrounding this and to be safe, innovation consultants design your project so it fits the legislation and so you aren’t having to false fit your project into what is relatively strict legislation.
Through working back, and working forward it’s important to analyse the real innovations that have worked for you in the past and to determine what will work for you in the future.
It’s time to make a change in your business if innovation has just meant tax credits. You need solid plans for the future and you need a way to execute those plans correctly.