What Is Innovation?
In a phrase, innovation means “new or better ways of doing valued things” (CCA 2009, p.21). Some innovations - like the automobile, the Internet or penicillin - are game changers. But the vast majority of innovation is incremental, the continuous improvement of products and processes. Innovations must of course start somewhere, but unless and until an innovation spreads widely it is of relatively little economic or social significance. In the context of productivity growth, the process of innovation diffusion and adaptation is most important, since most innovation that occurs in any given area or jurisdiction is through adaptation of significant innovations originating elsewhere (CCA 2009, p. 27).
Why is there a need for innovation?
Innovation drives our ability to create more economic value from an hour of work. The resulting productivity growth increases economic output per worker, creating the potential for rising wages and incomes, and thus for a higher standard of living. It is for this reason that business innovation delivers great benefit, not only for the individual firm, but also for society as a whole.
The government encourages companies to foster innovation for the better of the whole society. And the encouragement comes in the form of governmental incentives and funding. Businesses that innovate have many governmental rewards at their disposal. The only question remains is not how to apply for these incentives and funds but how to receive the maximum amount you are entitled to.
At Maxim Strategy we will assist your company to receive the maximum amount you are entitled to. With our proprietary methodologies, we will ensure that not only you receive your incentives and funding but also to position your company to benefit at the maximum year after year. Maxim Strategy Consultants can help you find innovation oriented management solutions. And through our specialized consulting, you can take advantage of these following incentive programs:
Our management team comes with over 20 years of experience in SR&ED tax credits and other innovation grants. Maxim Strategy Consultant’s diverse team of engineers and CPA's ensure that all claims are of the highest quality. This is evidenced through our greater than 90% track record of claims being assessed as filed, without Canada Revenue Agency reviews.
Maxim’s strategic approach focuses on identifying the most lucrative and beneficial mix of grant and tax incentives. This strategic approach enables Maxim to limit the time involved by your organization in developing a plan to identify and process applications and claims, while maximizing the return to your business.
With Maxim’s proven processes, we maximize your tax credits through personalized, hands-on consulting, while at the same time, focusing on minimizing the time to establish your claim. We work on a contingency fee structure, meaning we share the risk until the tax credits are received.
A dedicated team of professionals, made up of both engineers and accountants, will be assigned to the claim process for your business. Maxim’s SR&ED technical and financial experts will lead the process of the claim, from project identification to the filing of the tax returns. What separates us from others is that we are proactively involved in your business R&D processes. We work with you throughout the year, not just when it’s time to file your tax return.