Dorset Gateway

Support Central

An interview with Dorset Gateway Business Advisor Suzannah Kennedy on how the service has provided support to Dorset businesses through the pandemic and how it can help during post-COVID recovery

In a nutshell, what is Dorset Gateway and what is its remit? Dorset Gateway offers a fully funded service to provide advice, support and signposting to any Dorset-based business looking for any kind of support. The service is funded from Government via Dorset Local Enterprise Partnership (LEP) and delivered in partnership with Dorset Chamber. Essentially It centralises the ever-changing information on support so businesses have a one stop shop for guidance. During the pandemic, what changed for Dorset Gateway and how were you able to respond? Since the start of the pandemic Dorset Gateway has been in contact with and assisted 1400+ Dorset-based businesses seeking support which shows the scale of demand. During the peak, on one day alone, we received more enquiries than during a “normal” pre-COVID month. We were able to adapt quickly to meet both this demand, and the challenges of the fastchanging support environment. Two additional staff members were secured to help manage work flow and processing and to assist with the delivery of accurate and relevant information across various channels, including web sites, email, newsletters, phone and social media. What was the biggest support requirement during the pandemic? The service proved to be a fundamental resource for many and a life-line to others. It frequently acted as a counselling service for distraught business owners whilst helping to source and secure information, clarify eligibility criteria and signposting to relevant grant funding schemes made available from central government, and aligning the service with both councils who were busy interpreting and implementing them.

It also played an integral part in raising key issues faced by Dorset-based businesses such as marine and hospitality so that local government, Dorset Chamber, British Chambers of Commerce, and the Government’s Department for Business, Energy and

Suzannah Kennedy, Dorset Gateway Business Advisor

Industrial Strategy (BEIS) were aware.

We continue to work closely with BCP and Dorset councils to help raise, consider and resolve issues for Dorset-based businesses struggling to secure funding. Can you highlight any success stories for businesses or sectors in Dorset during the pandemic? I’m delighted to say that there have been a great number of success stories but what really stood out for me was that time after time, Dorset business owners of all sizes and sectors expressed their gratitude for being able to talk to an individual who was able to provide help and solutions and to access grants and further support which they had previously struggled to find. What is your one key piece of advice for companies who need support for post-COVID recovery? You don’t know what you don’t know! There’s a huge amount of support available to Dorset

During the peak, on one day alone, we received more enquiries than during a “normal” pre-COVID month

businesses: we make it our business to have the best understanding possible of this complex and changing landscape, so we can provide information and connect businesses to the most relevant opportunities. Our advice: get in touch. Once we understand your needs we can signpost you to support now and in the future. For more information contact Dorset Gateway: gateway@dorsetchamber.co.uk or phone 01202 714800 for a conversation.

A financial printing business received over £750k over ten years via HMRC’s Research & Development tax credit scheme.

Many businesses will have been looking to take advantage of any government grants or loans available during the Coronavirus. However, an annual cashback for innovative businesses has been available for the last 20 years and has the advantage of being a means of funding that doesn’t have to be paid back.

Rob Sowden, innovation tax incentives consultant operating from Bournemouth, provides the following example:

“The consistency of the government support via the Research & Development (R&D) tax credit scheme is really showcased with this business. The scheme was introduced in 2000/01 to reward companies for innovation, to ensure the UK remains a thriving and rewarding place for businesses to trade in. This business received a consistent average in excess of £75k cashback annually for a decade. This cashback is not taxed again, it goes straight to the bottom line. Many businesses and their advisors often associate the R&D tax credit scheme with sectors such as manufacturing, engineering, pharmaceutical, etc, yet this business in the sector of commercial printing highlights that a business in any sector can obtain this valuable cashback. However, it does take a specialist claims provider to correctly identify the nature of qualifying activities to ensure that the company obtains maximum entitlement and to avoid the risk of submitting a DIY claim directly (or via an accountancy firm), that is not compliant with legislation. On this latter point, it is important to recognise that HMRC may make an initial award of a tax credit or cashback, but if it later discovers that this claim is not compliant, it may result in a clawback. A trading company that carries out any form of unique innovation may qualify for a year-on-year cashback from HMRC under this very generous scheme. A first time claimant company can claim back two accounting periods. Many first time claimant companies I work with receive a six figure cashback for those two years, money they didn’t know was there for them. A business does not have to be profitable to get this cashback, in fact a loss-making company can obtain an enhanced cashback, up to 33% of qualifying costs can be rebated. Qualifying costs consist mainly of staff costs and/or costs incurred by 3rd party contractors for any innovation work, as well as certain material costs and utility costs. Some businesses have claimed and received small amounts, much less than they were entitled to. What catches many businesses out is that they believe this claim opportunity is an accountancy work-stream, whereas it is really about technology and they may not have identified all of the qualifying activities that could be part of a compliant claim. In this case a specialist IT analyst was assigned to assess and compile the claim to identify all of the qualifying activities permitted within the scheme rules. If trading has been affected adversely during the Covid-19 restrictions, this can be a great way to generate cash from the prior two years trading.”

Business Cash Enabler provides a free service to businesses to check eligibility for innovation tax incentives.

For more information visit: www.businesscashenabler.co.uk or call Rob Sowden on 07732 627085