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R&D Credits - what you need to know to avail of the relief

 

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What is the R&D credit?

This is an additional tax relief available to companies that are carrying out qualifying R&D in Ireland and elsewhere.


Can you avail of the relief?

Most companies that are involved in manufacturing carry on some element of R&D every year. Just because you refer to the expenditure as R&D does not mean that relief is due – strict conditions apply to the nature of the expenditure that will benefit from the relief. But, if your company is involved in R&D activities, some additional tax relief may be due.


Join us...

PwC in association with Waterford Chamber will be hosting an information evening to explain the requirements for obtaining the R&D credit, how it works and what type of R&D activities qualify. PwC will also provide an update on current Revenue practice in this area.  Meet your peers, join the discussion and share your views/concerns on Wednesday, 7th May at the Viking Hotel Waterford, Cork Road, Waterford.


Tea/Coffee and Registration is from 5.30pm and presentations will commence at 6.00pm. This will be followed by a Question and Answer session, which will conclude at around 7.00pm.

 

BOOKINGS: There is no charge for this event. Reserve your place by contacting Serena Gleria at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or at 051 872639.

 
Business After Hours at NAS Training Centre

 

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Our next Business After Hours will take place at NAS Training Centre, Cleaboy Business Park, Old Kilmeaden Road, Waterford. Come along and view the meeting & training facilities that are available to hire. NAS will also be showcasing the training courses available there including a short CPR workshop.


Meet with the NAS Training Centre strategic partners who are bringing new training opportunities to Waterford and the South East. Some of these training partners include: The Irish Times Training , University College Cork (UCC), Irish Institute of Training and Development (IITD), Mary Daly & Associates (Food Hygiene), Darlington Consulting (Health and Safety), and Michael Connolly NLP Training. All of these training partners will be available with information about the courses they provide on the evening.


Our Business After Hours events are your best opportunity to meet new business contacts, promote your business and learn information. Members are encouraged to bring along another business colleague or staff member.


Business cards will be entered into a draw for a 1-day Introduction to NLP course. This practical and comprehensive introduction course provides participants with the basic yet powerful foundations and tools of NLP designed to help them in understanding what NLP is and how it can be applied in personal and business life.


BOOKINGS: This is a FREE event. Call Sheila at 051 872639 or email  This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

nas-training-centreAbout NAS Training Centre
The NAS Training Centre is a state of the art training and meeting facility located at the Cleaboy Business Park, Waterford. Opened in 2006, the NAS Training Centre has gained a reputation as one of the region's leading meeting and training venues. It is comfortable, bright and spacious. The NAS team is on hand to take the stress and worry out of organising your meeting or training course. The NAS Centre also provides a wide range of training courses and programmes, facilitated by highly trained instructors. www.nas.ie

 
Potential for Creation of 100,000 Jobs

Chambers-Ireland-Local-Elections-ManifestoChambers Ireland Launches Local Election Manifesto

Chambers Ireland has today (17/04/14) called on local elections candidates to support the business community by making five key commitments, which will reduce the cost of doing business and increase competitiveness. If these commitments are adhered to, there is the potential to create 100,000 jobs in the construction, retail and tourism sectors.

 

These commitments are:

 

  1. Support local economies through business engagement on Local Enterprise Offices and Local Community Development Committees; working with Chambers to support local tourism and supporting town centres through fair car parking rates;
  2. Support procurement policies that support local businesses by encouraging local authorities to focus on job creation and the economy rather than lowest price when awarding contracts;
  3. Ensure Local Government reform benefits business through targeted reductions in commercial rates and that monies raised through the Local Property Tax are spent on local services;
  4. Guarantee the rollout of Irish Water will not lead to increased charges for business by encouraging local authorities to work with Irish Water to produce a reliable and sustainable supply for all; and
  5. Make infrastructure and planning contribute to growth by ensuring planning laws and decisions support business development.

 

Speaking today, Chambers Ireland Chief Executive Ian Talbot said "The business community is the largest single source of funding for Local Authorities throughout Ireland and it is vital that their contribution to the local community is recognised. The reform of Local Government offers a unique opportunity to enhance the collaborative process between businesses and Local Authorities and we encourage all candidates to commit to being pro-active advocates for business.”


“Policies such as the 80% rezoning levy on brown field lands and high car parking rates are anti-consumer and candidates have a duty to the local community and economy to make changes in these areas if elected.”

 

The full Local Elections 2014 Business Manifesto can be downloaded here.

 
A Strategic Procurement Policy for Ireland

Public Procurement Must Be About Strategic Goals Not Just Cost Saving

€800 Million Worth of Public Contracts Leave Ireland Every Year

 

Chambers Ireland has launched ‘A Strategic Procurement Policy for Ireland’ which puts forward a number of recommendations on how to make public procurement benefit the economy as a whole rather than simply acting as a cost saving exercise.

 

Waterford Chamber Chief Executive Nick Donnelly said, “Current procurement policy in Ireland leaves many SMEs feeling excluded from the process. This is due to a narrow focus on cost by contracting authorities and overly complicated systems of pre qualification and tendering. One of the side effects of this is that 8.8% or €800 million worth of public contracts leave Ireland every year, well above the EU average of 3.5%.”

 

“Our document outlines a number of ways in which procurement can support the wider economy. We believe the Office of Government Procurement (OGP) should use metrics such as job creation and long term benefit for the economy. Too many contracts continue to be awarded on price alone without taking into account the number of jobs created in Ireland or monies that could be lost in tax revenue.”

 

“The OGP is currently located within the Department of Public Expenditure and Reform. This sends the message that their main priority is cost saving. We propose moving the OGP to the Department of Jobs, Enterprise and Innovation which would signal an approach to procurement that focuses on opportunity, job creation and supporting the domestic economy.”

 

“There are many models of best practice across Europe and we suggest the Government take a closer look at some with a view to implementing them in Ireland. Taking the lead from the Netherlands on executing the Small Business Innovation Research (SBIR) programme and the UK on CompeteFor, a unique system which allows businesses to compete for opportunities and produce community benefits, would significantly improve the procurement process in Ireland.”

 

“The growth of indigenous Irish business is the single most important contributor to a sustainable economic recovery. If acted on, this strategy could result in a procurement policy of benefit to both buyers and suppliers. Crucially, however, it would also benefit all public procurement stakeholders and would contribute to a far-sighted, sustainable economic recovery,” he concluded.

 

Download ‘A Strategic Procurement Policy for Ireland’ here.

 

Key Recommendations

 

  • A Strategic Procurement Policy for Ireland outlines a range of recommendations to improve the process of public procurement. Key recommendations include:
  • Move the OGP from the Department of Public Expenditure and Reform to the Department of Jobs, Enterprise and Innovation signalling a commitment to supporting job creation and the local economy rather than solely focussing on cost
  • Transpose the new European Union directives into national law in a timely fashion, without any gold-plating
  • Reduce the number and types of contracts being awarded on the basis of price alone. An appreciation of the benefits to the Irish economy in terms of jobs created or revenue raised through taxation should become the norm in tendering procedures
  • Complete the pilot Small Business Innovation Research (SBIR) programme, announced in the Action Plan for Jobs 2014, in a timely fashion; guarantee funding for its further use and encourage contracting authorities to maximise its potential.
  • Simplify the process of pre-qualification and reduce the amount of material that must be provided by suppliers at this stage. Make the process of ‘banking’ or saving information on the system for use in subsequent tenders work better for SMEs

 
Business After Hours at Whitfield Clinic

 

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Photos by Garrett Fitzgerald Photography

 

 
Building Financial Capabilities in SMEs

 

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There are approximately 300,000 small and medium sized enterprises (SMEs) on the island of Ireland. Many of these enterprises have a disproportionate reliance on the banking sector for their external financing needs.


So what type of SME are you? Did you know there are 3 types of SME’s in Ireland?

 

  1. Micro Enterprises have fewer than 10 employees.
  2. Small Enterprises have between 10 and 49 employees.
  3. Medium-sized enterprises have between 50 and 249 employees.

 

For many SME owners accessing funding for their business can be a daunting task, and many don’t know where to turn or believe there is no funding out there for them. This lack of knowledge on alternative funding options is inhibiting the development of a more diverse funding environment for SME’s and the use of more appropriate and less costly funding alternatives.


In May, Waterford Chamber Skillnet and Management Works will co-host a new and exciting programme designed specifically for your small businesses.


Whether you are a Sole Trader, Business Start-up, Entrepreneur, Farmer or SME this course has been designed to help you to understand the finances of your business and how to present your funding requirements to Investors when seeking to raise finance for your business needs.


Financial Capabilities for SME’s:

 

  • This course consists of: 2 x 1 day workshops
  • Support from experienced Business Mentor
  • One to one sessions focusing solely on your business
  • Practical & dynamic learning with a strong emphasis on business impact

 

Results for your business:

 

  • Know the sources of finance for your business
  • Gives you the ability to discuss your firm's finances
  • Improve your chances of securing finance for your business
  • Show you how banks are assessing credit applications
  • Tell you how Microfinance Ireland & the Credit Review Office can help you get the money you need

 

Dates: 28th May & 16th June 2014 + 2 One to Ones

Time: 9:00am – 5:00pm

Venue: Athenaeum House Hotel

Trainers: Discovery Partnership

Cost: €250pp + VAT (Early Bird discount to people who book before the end of May  for only €215 +VAT)

Content: Click to View

Bookings: All bookings - Click here

 
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