It is all too easy to get caught up in the moment and to neglect the more practical aspects of properly setting up a company, structuring it correctly and getting the right agreements in place.
This is why I was delighted to be invited to speak at Harwell’s Technology Entrepreneur’s Forum, a specialist event for tech and space related industries covering the more practical aspects of business, fundraising and the housekeeping side of getting an idea to market. Harwell is home to around 150 science/research organisations and private companies and houses over £1billion of world leading research infrastructure .
This event combined two of my obsessions, space and accountancy and I enjoyed sharing my experience of working with growing businesses with the Harwell companies. As well as explaining how important it is to structure a company correctly, I also talked about routes to funding and the tax reliefs available to innovative businesses, many of which are left unclaimed.
I explained how I have worked with a number of clients who have been pleasantly surprised to realise that the activities that they were involved in were in fact classified as ‘research and development’ and as such they could claim a tax relief!
There were questions on all aspects of running a company, from start up through to exiting as the businesses were at different stages of their lifecycle. The common theme in the room was a passion for innovation, which is why Harwell is such a great place to be.