ALTERNATIVE BANKING SOLUTIONS
Your company could very well qualify for SR&ED funding - the Canadian cannabis industry presents a fertile ground to take advantage of the $4 Billion SR&ED Budget because it is a young industry and there are many still unknowns in growing, plant genetics, processing, manufacturing and also associated technologies and equipment.
Do you know that Canada has the most generous Research and Development funding in the world?
Canada’s annual SR&ED Budget of $4 Billion is allocated to 20,000 companies, that is $200,000 each comprising up to 69% salary payback.
Are you aware that the SR&ED program will pay for up to 69%, of your salaries and large % of other expenses?
Depending on the province, the payout for R&D comprises the Federal and Provincial government of up to 69% of Salaries, 34% of subcontracts, and 42% of materials costs (which include cannabinoids). Your company does not require a Cannabis R&D license as the Cannabis Regulations provide for internal R&D.
Have you obtained an expert opinion to determine what qualifies for SR&ED funding for your business?
The three main criteria to meet are essentially;
- Technological uncertainty, that it is difficult reach certainty or predict certainty of outcomes without R&D.
- Systematic investigation and/or research, that is where the work claimed goes beyond the state of the art of existing knowledge base in the public domain.
- Technological Progress, where as a result of the SR&ED project there is evidence of achieving technological advancement, although if the technological objectives are not reached the SR&ED claim will be successful.
Find out if you qualify for SR&ED funding now—free consultation available 👇
Nigel Boast (BSc LLB MBA) is the principal of Growth West Finance Ltd., a firm that has serviced the Canadian Cannabis industry since inception, is an acknowledged expert on both Cannabis and SR&ED claims.