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GovGrant responds to the government launch of the R&D Roadmap

Posted on Wednesday 1 July 2020 by Luke Hamm | Chief Executive Officer

On 1 July 2020 the government released an R&D Roadmap to set out vision to attract global talent, cut unnecessary bureaucracy and cement the UK as a world-leading science superpower.
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When HMRC investigates – what does it tell us about our industry

Posted on Friday 22 May 2020 by Luke Hamm | Chief Executive Officer

HMRC recently reported on the outcome of a first tier tax tribunal case investigation into an R&D tax claim.

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Speed of deployment – the measure of success for government support during Covid-19

Posted on Friday 15 May 2020 by Luke Hamm | Chief Executive Officer

In his first ever budget the Chancellor was bold and ambitious with his plans but since the 11 March the world and economy have changed beyond compare and the subsequent financial response from the Chancellor means the budget has paled into insignificance. Here Luke Hamm, CEO at GovGrant, considers how innovation is being promoted by the government and how speed is critical to any success.

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GovGrant – an active member of the CBI R&D working group

Posted on Wednesday 22 April 2020 by Luke Hamm | Chief Executive Officer

GovGrant – a seat at the table when policy is discussed

Over the years our business has grown as a direct response to government initiatives to encourage innovation in the business community. Using our experience and expertise, we now have a seat at the table when government and businesses discuss the best way to reward innovation in the UK. We aim to influence policy by representing our clients.
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Accelerate cashflow thanks to your R&D

Posted on Tuesday 7 April 2020 by Luke Hamm | Chief Executive Officer

R&D tax credits provide a real financial benefit to UK companies. As part of the UK governments commitment to R&D and innovation, it is one of the most successful mechanisms to support innovation in business. And now is the time to make sure that you are receiving the maximum amount of value possible.
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Leisure in Lockdown – at least your mind is free to wander

Posted on Wednesday 25 March 2020 by Luke Hamm | Chief Executive Officer

“What is this life if, full of care, we have no time to stand and stare.” The words of welsh poet W H Davies were ringing my ears for all the right reasons today.”
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Spring Budget supports R&D tax relief

Posted on Wednesday 11 March 2020 by Luke Hamm | Chief Executive Officer

The chancellor stands firm on the government’s commitment to R&D tax relief. The government have announced sweeping measures to turbocharge the UK economy and commitment to R&D was underlined with a massive £22bn investment.

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What does this election mean for innovation in the UK

Posted on Tuesday 26 November 2019 by Luke Hamm | Chief Executive Officer

The golden rule in an office, never talk politics – well sorry, I feel that I need to break that rule! The election manifestos have been unsurprising from the main two parties – sort Brexit on one side or change everything the other side is the summary. But of selfish importance to me and my clients is the parties view on how government should invest in R&D to make sure the UK leads the world in innovation.

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R&D Tax Credits: doing nothing is not an option

Posted on Tuesday 15 October 2019 by Luke Hamm | Chief Executive Officer

In their latest podcast, Accountancy Age spoke to GovGrant’s CEO, Luke Hamm, about the need for the R&D tax credit programme to be kickstarted in the UK in order to drive much-needed innovation. In this entertaining podcast, we cover why the government must do more, how businesses of all sizes are missing out, the regional problem and why the big four need to take some of the blame for the issue.

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Government must do more to support innovation or risk losing our best businesses to competitors

Posted on Thursday 10 October 2019 by Luke Hamm | Chief Executive Officer

Innovation tax specialist GovGrant comments on the annual HMRC tax credits statistics and says Government needs to demonstrate that it really is pro-business. Commenting before the publication today (10 October) of the latest HMRC statistics measuring the amount of tax credits claimed by the UK’s most innovative businesses during the previous 12 months, Luke Hamm, CEO of GovGrant, said:

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Good news in HMRC R&D tax credits report, but new policies needed to boost growth

Posted on Thursday 10 October 2019 by Luke Hamm | Chief Executive Officer

Commenting on HMRC’s analysis of UK R&D tax credits in its report, published today Luke Hamm, CEO of innovation tax specialist GovGrant, which has helped businesses claim back over £200m for their R&D, said: “The good news is that the number of claims by UK SME businesses accessing the tax credits system has increased by 22% between 2015-16 and the end of 2017. 77% of all claims are from SMEs, and there’s been a welcome 15% increase in the number of first time SME applications.”

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Unleashing Opportunities – GovGrant leads the way at SME event

Posted on Thursday 27 June 2019 by Luke Hamm | Chief Executive Officer

GovGrant collaborated with four other firms aiming to help SMEs maximise their innovation opportunities at a June event in partnership with Business Funding Show. It was the first in a programme of GovGrant sponsored events. We invited the other organisations to share the platform in order to give innovative companies a fully-rounded insight into available funding sources (debt, equity, grant and, of course, the R&D tax credits and Patent Box schemes) to support a continuous cycle of innovation within their organisations, and all the business benefits that ensue.

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GovGrant CEO Luke Hamm asks whether the government should be upping the pace on its artificial intelligence strategy

Posted on Tuesday 11 June 2019 by Luke Hamm | Chief Executive Officer

The government’s latest Industrial Strategy report on artificial intelligence (AI) delivers some welcome headlines, but I have a nagging feeling that progress in creating a world-class AI sector in the UK is stately, rather than speedy. The government is, after all, marking its own homework, so it’s no surprise that it accentuates the positive.

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GovGrant urges action on innovation tax credit fraud but to keep the claim process simple

Posted on Friday 7 June 2019 by Luke Hamm | Chief Executive Officer

GovGrant CEO Luke Hamm has welcomed HMRC’s (HM Revenue & Customs) decision to crack down on abuse of the R&D tax relief system. GovGrant, which is a member of the HMRC Research and Development Consultative Committee, helps businesses claim millions each year for their innovation, including patents and inventions. Luke said he hoped ministers would move quickly to protect the reputation of the tax system and force out unscrupulous agents in time for new rules on tax credit coming in April next year.

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GovGrant CEO Luke Hamm explores what lessons China’s industrial strategy can offer the UK

Posted on Friday 31 May 2019 by Luke Hamm | Chief Executive Officer

Luke Hamm is CEO of GovGrant, a specialist adviser helping companies take advantage of generous government tax incentives for innovation. You can’t keep China out of the news. Not only is it poised to overtake the USA as the world’s biggest economy (and this may be a political factor behind the current trade war with the US), but in the UK, the government is weighing up whether to allow Huawei, the Chinese telecoms giant, to build parts of the UK’s 5G network.

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Medtech and biopharma can drive the UK growth agenda and more support should be given

Posted on Friday 3 May 2019 by Luke Hamm | Chief Executive Officer

The UK’s biopharma and medtech sector is a world class sector with potential for stellar growth, according to Luke Hamm, CEO of GovGrant, which helps companies in the sector obtain commercialise their innovations, including R&D tax credits. Commenting after the publication of the government’s Office For Life Science’s (OLS) statistical survey of biotech and medtech in the UK, Luke said: “The report underlines the vital importance of this sector to the UK economy, with a quarter of a million employees, turnover of nearly £75bn and over 6,000 businesses across the four key areas.” [biopharma, biopharma service and supply, med tech core and med tech supplier businesses.]

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Honda closure must bring about government re-think for innovation, says GovGrant CEO

Posted on Tuesday 5 March 2019 by Luke Hamm | Chief Executive Officer

Honda’s decision to close its Swindon car plant by 2022 has been hijacked by the politics of Brexit. No surprise there, but the closure also blows a big hole in the government’s industrial strategy, which placed some big bets on the development and production of electric vehicles in the UK.

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GovGrant urges Chancellor not to go ‘down under’ for innovation and R&D tax policy ideas

Posted on Monday 18 February 2019 by Luke Hamm | Chief Executive Officer

Australian government proposals to restrict tax incentives for R&D and innovation have been delayed following an outcry from business and research groups. The proposals, intended to save £1.2bn capped cash refunds for research activities at $4m, introduced a new ‘intensity test’ for larger companies to favour higher, more intensive R&D investment, and significantly increased compliance and enforcement measures, according to a report in the Guardian newspaper.

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The real Sir James Dyson question: What has Singapore got that the UK hasn’t?

Posted on Wednesday 30 January 2019 by Luke Hamm | Chief Executive Officer

Sir James Dyson’s decision to move his corporate HQ from the UK to Singapore has unleashed a storm of Brexit-related comment. Sir James, one of the UK’s most successful inventors, is a prominent Brexit supporter, and he has been widely criticised as hypocritical on social media and in the MSM.

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GovGrant CEO says urgent reform of UK Patent Policy needed

Posted on Thursday 24 January 2019 by Luke Hamm | Chief Executive Officer

  • Hacker Young study identifies obtaining more AI patents as key to UK’s future growth
  • System for obtaining patents stacked against SMEs

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GovGrant calls for more R&D investment after latest EU stats rank UK at 11, well behind EU competitors

Posted on Friday 11 January 2019 by Luke Hamm | Chief Executive Officer

Commenting on the latest R&D figures from Eurostat [Estimates of Research & Development expenditure – 10 January], where the UK ranked 11th among EU member states for R&D expenditure in 2017, Luke Hamm, chief executive of innovation tax credits specialist GovGrant, said:

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Accountants urged to champion innovation tax credits

Posted on Tuesday 8 January 2019 by Luke Hamm | Chief Executive Officer

Preliminary GovGrant research finds a potential 50% service gap in for UK businesses. Over a third, (38%) of UK accountancy practices may not provide their clients with tax credit services for innovation and R&D, and a further 13% say there is no client demand for this service. The preliminary findings come from a survey of accounting firms by innovation tax specialist GovGrant, which helps the UK’s most innovative businesses claim tax benefits for their R&D and intellectual property. 

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GovGrant welcomes new government initiative to help small businesses

Posted on Monday 10 December 2018 by Luke Hamm | Chief Executive Officer

Luke Hamm, chief executive of innovation tax specialist GovGrant, has welcomed the government’s announcement that it is to introduce new laws to protect small businesses against unfair contracts that stop them raising money from unpaid invoices.

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GovGrant hands top business award to Ultima

Posted on Friday 30 November 2018 by Luke Hamm | Chief Executive Officer

Luke Hamm, CEO of GovGrant was on hand to give the 2018 Thames Valley Business Magazine award for best use of technology and innovation to Reading-based Ultima Business Solutions Ltd.

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GovGrant: Agri-Business a Key Sector for Investment and Active Policymaking

Posted on Wednesday 24 October 2018 by Luke Hamm | Chief Executive Officer

GovGrant, the innovation and R&D tax credits specialist, has welcomed the government’s commitment to the agri-tech sector following the outcome of a government-sponsored roundtable earlier this month, where ministers announced a further £30m investment (on top of £90m already committed via the Industrial Strategy) to enable farmers to buy into technology.

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GovGrant urges boost for productivity and innovation in the October Budget

Posted on Tuesday 23 October 2018 by Luke Hamm | Chief Executive Officer

GovGrant, the innovation and R&D tax specialist, has urged the Chancellor to use the tax system to boost the UK’s army of inventors and innovators in the Budget on 29 October.

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Latest Govt stats highlight how SMEs are critical to the health of the nation.

Posted on Monday 15 October 2018 by Luke Hamm | Chief Executive Officer

Business powers our economy, even if Boris Johnson colourfully disagrees, and the Chancellor has a chance to underscore the government’s support for business – especially small business – in his Budget at the end of October.

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Innovation statistics: the government could do better says GovGrant

Posted on Monday 1 October 2018 by Luke Hamm | Chief Executive Officer

The Chancellor has announced that Budget day 2018, one of the busiest news days in the financial calendar, will be earlier than expected, on 29 October.

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GovGrant welcomes new government initiative to help small businesses

Posted on Monday 10 September 2018 by Luke Hamm | Chief Executive Officer

Luke Hamm, chief executive of innovation tax specialist GovGrant, has welcomed the government’s announcement that it is to introduce new laws to protect small businesses against unfair contracts that stop them raising money from unpaid invoices.

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GovGrant featured in The Business Magazine

Posted on Wednesday 5 September 2018 by Luke Hamm | Chief Executive Officer

Entrepreneurial businesses can capitalise on their innovations by taking advantage of government incentives. R&D tax relief adviser GovGrant’s chief executive officer Luke Hamm tells Tim Wickham why more UK companies should consider claiming the relief and protecting their intellectual property.

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Interview with Luke Hamm, CEO GovGrant

Posted on Tuesday 4 September 2018 by Luke Hamm | Chief Executive Officer

Tell me about your background and how/why you became CEO at GovGrant?

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Not enough insurtechs in FCA Sandbox – Insurance Times feature

Posted on Friday 24 August 2018 by Luke Hamm | Chief Executive Officer

This year saw only three insurtechs in the FCA Sandbox out of 29 firms in total.

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Innovation the key for better business

Posted on Wednesday 22 August 2018 by Luke Hamm | Chief Executive Officer

One of the more heartening aspects of this year’s Federation of Small Business (FSB) innovation survey is that SMEs know they need to innovate, particularly in the face of competition.

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CEO featured in Insurance Times

Posted on Wednesday 22 August 2018 by Luke Hamm | Chief Executive Officer

The insurance industry is missing out on claiming back research and development (R&D) tax.

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Why SMEs are not accessing R&D tax credits

Posted on Tuesday 14 August 2018 by Luke Hamm | Chief Executive Officer

The Federation of Small Business (FSB) innovation survey stands out like a sore thumb. There are a huge number of SMEs not accessing or not even being aware of government support for their research and development (R&D).

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GovGrant calls for UK’s innovative businesses to take up Government R&D support

Posted on Thursday 9 August 2018 by Luke Hamm | Chief Executive Officer

GovGrant, the leading innovation tax relief specialist, has welcomed what the government has described as the ‘biggest increase in public R&D (research and development) funding for over 40 years.’

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Most small businesses are innovating

Posted on Wednesday 8 August 2018 by Luke Hamm | Chief Executive Officer

Results from this year’s Federation of Small Business (FSB) innovation survey make for interesting reading.

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How AI is changing all our lives – even for accountants

Posted on Tuesday 31 July 2018 by Luke Hamm | Chief Executive Officer

The march of artificial intelligence is seemingly unstoppable. An AI-world is viewed with alarm or excitement depending, I suspect on whether the Terminator movies increase your pulse rate or send you to sleep.

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Who ya gonna call?

Posted on Tuesday 3 July 2018 by Luke Hamm | Chief Executive Officer

We are working more closely than ever with accountants to help businesses secure the grants which are so vital to encourage continued innovation which not only helps them to an edge over competitors but also keeps the wheels of industry turning.

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Whose idea was it anyway?

Posted on Tuesday 26 June 2018 by Luke Hamm | Chief Executive Officer

Anyone old enough to remember the BBC comedy series Harry Enfield and Chums may recall the wonderful public information film pastiche sketches which always ended with the phrase ‘Women, know your limits’.

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Shine a light on hidden innovation

Posted on Wednesday 20 June 2018 by Luke Hamm | Chief Executive Officer

Hidden innovation needs to be brought out from the shadows and into the spotlight.

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Industry 4.0 A flashy catchphrase or the next industrial revolution?

Posted on Wednesday 16 May 2018 by Luke Hamm | Chief Executive Officer

The term “Industry 4.0” originates from a project in the high-tech strategy of the German government promoting the computerisation of manufacturing and adopted globally as a name for the current trend of automation and data exchange in manufacturing technologies. It includes cyber-physical systems, the Internet of Things, cloud computing and cognitive computing. Industry 4.0 introduces what has been called the “smart factory,” in which cyber-physical systems monitor the physical processes of the factory and make decentralised decisions.

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Can the government help fund your manufacturing business?

Posted on Tuesday 15 May 2018 by Luke Hamm | Chief Executive Officer

It is certainly in the best interest of the UK to bolster the manufacturing capabilities of UK companies, especially during turbulent times when international trading relationships are in a state of flux. Some people might be surprised to learn that the government is doing something to address the situation.

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Lessons to be learned from TSB meltdown

Posted on Tuesday 1 May 2018 by Luke Hamm | Chief Executive Officer

“We apologise for any inconvenience you might be experiencing. If you wish to make a complaint, please contact us. We’ll do our best to put things right.”

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Building a Green Room

Posted on Thursday 26 April 2018 by Luke Hamm | Chief Executive Officer

Due to the contribution it makes to carbon emissions the real estate sector is in the forefront of the shift to building “green” buildings. This has been driven by a mix of public sentiment and awareness, legislative pressure and technological advances.

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There’s a revolution going on way out west

Posted on Tuesday 24 April 2018 by Luke Hamm | Chief Executive Officer

It may be best known for cider and clotted cream, but there is a revolution going on in the South West of the UK with hi-tech companies springing up at a rate of knots.

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GovGrant in Europe’s top 100

Posted on Tuesday 17 April 2018 by Luke Hamm | Chief Executive Officer

Business innovation funding and tax relief specialist GovGrant has been shortlisted for a prestigious global award.

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R&D tax relief: what, when and how

Posted on Tuesday 3 April 2018 by Luke Hamm | Chief Executive Officer

If you have a company that does a lot of research and development, you will want to look into the R&D tax claims you can make. In some cases, you can get reimbursement for up to 33% of your development costs.

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R&D tax relief: is it worth the effort?

Posted on Tuesday 27 March 2018 by Luke Hamm | Chief Executive Officer

Getting a tax credit for making your business better and more efficient, or for bringing a new product to light, is a great thing. It can help you recoup costs that you had for the research and development projects you undertook.

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R&D spending, European trailblazers and Brexit implications

Posted on Thursday 22 March 2018 by Luke Hamm | Chief Executive Officer

The new official bulletin on R&D spending statistics makes for fascinating reading from a business point of view. Produced annually by the Office for National Statistics (ONS), figures in the Gross domestic expenditure on Research and Development, UK: 2016 are the latest available.

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Green Energy – every business can do it.

Posted on Tuesday 20 March 2018 by Luke Hamm | Chief Executive Officer

It is an essential element of the UK Industrial Strategy to encourage businesses to invest in green energy to ensure, we continue to reduce our carbon footprint. Environmental taxes have been making the headlines in recent months. The public is more aware of caring for the environment than ever before, with charges for carrier bags and coffee cups and the rise in popularity of electric cars and green energy suppliers to the home.

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What can make claiming a R&D tax credit complicated?

Posted on Tuesday 13 March 2018 by Luke Hamm | Chief Executive Officer

When assessing research and development projects, knowing which ones qualify for R&D tax credits can help you plan your strategy and budget. When spending money on these types of projects, it is important to understand how these credits are calculated, and what it could potentially mean for your business. Companies can currently claim up to 33% of their expenditures through R&D tax claims.

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We have a seat at the table

Posted on Thursday 8 March 2018 by Luke Hamm | Chief Executive Officer

Last night, GovGrant hosted a dinner at the House of Commons with a number of MPs, industry experts and our clients to discuss how government should support the SME community. The focus was on the question, ‘If the R&D tax credit system is driving innovation and productivity, why is uptake still low and what should be done to give SMEs better IP protection and understanding?’

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Helping businesses access grant funding is a piece of cake for Richard

Posted on Tuesday 6 March 2018 by Luke Hamm | Chief Executive Officer

Richard Thompson has spent the largest part of his professional life offering help, support, and advice to small businesses.

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What to expect from GovGrant

Posted on Tuesday 27 February 2018 by Luke Hamm | Chief Executive Officer

Are you the owner of a small or medium-sized enterprise (SME) in the UK and think that you could be entitled to research and development tax credits? By working with GovGrant you can eliminate the costly guesswork involved in making R&D tax claims by yourself.

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Industrial Internet of Things: Now is the time to be bold

Posted on Tuesday 20 February 2018 by Luke Hamm | Chief Executive Officer

The statistics are truly mind-blowing and should act as a wake-up call to small and medium-sized enterprises (SMEs) across the UK. According to figures from The Centre for Economics and Business Research, the Industrial Internet of Things (IIoT) is likely to add an incredible £322 billion to the country’s economy over the next two years and create thousands of jobs in the process.

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Here’s hoping that Georgie will shine the spotlight on R&D

Posted on Friday 16 February 2018 by Luke Hamm | Chief Executive Officer

If I was being completely honest I am really not sure how I would react if a member of my team told me they were going to take a few weeks off from work so they could appear on a reality TV show. My immediate concern would be about how the actions of the person involved might affect the reputation of our business.

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Technology has triggered an earthquake in the financial services world

Posted on Tuesday 30 January 2018 by Luke Hamm | Chief Executive Officer

Advances in technology and the ever evolving digital landscape have triggered what can only be described as a revolution in the normally conservative world of the financial services sector.

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Getting rid of scheme would be patently wrong

Posted on Tuesday 23 January 2018 by Luke Hamm | Chief Executive Officer

A long awaited report into tax credit relief was pretty much guaranteed to make waves because of its forthright views. The Institute for Public Policy Research did not hold back when it released its findings into the extra revenue that firms can access for carrying out research and development.

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Government needs to make sure that the support goes where it is needed the most

Posted on Tuesday 16 January 2018 by Luke Hamm | Chief Executive Officer

Everyone knows that running your own business is one of the toughest challenges out there in the professional world. It takes a mixture of guts, determination and self-belief to make a success of a small enterprise and the UK’s army of entrepreneurs need all the help and support they can get.

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Government gets it right on Innovation

Posted on Friday 24 November 2017 by Luke Hamm | Chief Executive Officer

Philip Hammond made it abundantly clear in his Budget that innovation and creativity are the driving forces behind the UK’s economy.

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What’s in a name?

Posted on Friday 20 October 2017 by Luke Hamm | Chief Executive Officer

On 2 October 2017, GGTC, Capital Allowance Specialists and Patent Box Consultations starting trading as GovGrant – why?

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