randd uk have made a successful third claim of £11K on behalf of a family-run business from Leicester, receiving £30K in R&D tax credits to date. The company develop, manufacture and install Point of Sale (POS) display equipment for supermarkets and high street stores. The team work on a product from concept design through to manufacturing and installation.
A team of skilled engineers have created a unique method of operation that increases efficiency during installation and minimise the variable costs – to the company’s knowledge, no other business in the UK is using the same method. A unique selling point for the family-owned business is the focus on physical prototyping as a starting point for discussion with potential clients; a risky strategy with proven success as their customers are better able to visualise the end product. Research and development (R&D) tax credits have encouraged the company to take greater risks by increasing their commitment to speculative prototyping, a business model that has led to a 30% increase in turnover in the past two years.
Dedicated to research and development, the company has invested in 3D CAD software, a laser cutting machine, the formation of a Development Committee and the engagement of a placement student from Loughborough University. Further goals aim to reduce environmental impact such as minimalizing waste, energy, consumption and travel miles. randd uk enables further research and development through the successful application of R&D tax credits.27