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23 Mar 2006 18:14:42
Announcement coincides with showcase to encourage research and development
The University of Luton's Knowledge Hub has welcomed the budget announcement of higher tax relief for innovative businesses.
The Chancellor confirmed that companies with up to 500 employees will be allowed the same level of tax relief on research and development costs as small and medium sized firms.
The announcement coincides with an event which will examine the ways in which businesses can cover costs for developing new products and services - one of the main topics at the 'Innovation Showcase' on 4 April at the University's Putteridge Bury Conference Centre.
Speakers will include the new Director of Enterprise for the East of England, Mark Aspinall, and Inland Revenue Research & Development expert Ian Goreham. Regional financiers will advise on the best alternative sources of finance, including business angels and venture capital.
Eamonn Keenan, Associate Director for Business Development at the University, believes securing the finance and getting affordable access to expertise are the two most common challenges facing companies wishing to be more innovative.
He said: "Our showcase event is designed to spell out for businesses and entrepreneurs how they can carry out research and development themselves or get access to expert knowledge at their local universities."
As well as finance and research and development, the day-long event includes sessions on practical lessons for businesses looking to upgrade internal processes.
Experts from the University of Luton and Cranfield University will be reviewing business applications of the latest internet technologies and manufacturing techniques.
For more details about the Innovation Showcase, contact Sue Whittaker at the Knowledge Hub on 0800 328 5334 or visit www.luton.ac.uk/knowledgehub/m1ke.
Latest news» 2006» Mar» University welcomes Chancellor’s tax relief for business innovation
