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2022-07-18 14:27:06 Supporting Ukraine’s startup ecosystem: An inside look into the EIC’s €20 million fund

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2022-07-18 14:27:04 Berlin-based Rex fetches €5 million to digitise vet care for a new generation of pet owners

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2022-07-18 12:27:47 Luxembourg: Europe’s trusted data hub for internationalisation (Sponsored)

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2022-07-18 11:27:40 Ghent-based StoryChief picks up €3.4 million in fresh funding for its digital content marketing platform

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2022-07-18 08:24:48
Find Success and Avoid These Startup MistakesThere’s no single route to startup success, and if there were a manual that showed you the one true way, it would take fun out of the process. However, there are definitely some roads that you don’t want to go down. When you know what they are, you can avoid making the same startup mistakes that many a failed startup before you have made.startup mistakesFearing FailurePerhaps ironically, the first step is to shed your terror of failure. This is one of the common reasons startups fail, however this doesn’t mean taking a cavalier attitude about your business, but it does mean embracing a risk mindset and seeing failure as a chance to grow and learn rather than a judgment on your abilities. Read some biographies or autobiographies of business leaders to get perspective on how they handle failure and go on to even greater successes. Decide ahead of time that when you fail–because everyone who tries difficult things will not find success at every turn–you will pick yourself up and try again.Not Organizing Your FinancesThere are moving parts to getting your finances in order, from making sure you have a good process in place for staying on top of what is going out and what is coming in, to ensuring that you have some money in reserve to keep your cash flow healthy even if no one is paying their invoices this month. You can look into taking out a business loan to cover some of your expenses. This doesn’t necessarily mean borrowing a lot of money if you don’t need it. Loans are available in different sizes, and you can apply for a loan that offers additional perks such as support networks and educational resources.Not Having Your Paperwork in OrderNot getting your paperwork in order from the start can have a variety of consequences from the merely painful, realizing you’re behind on quarterly taxes and having to scramble to catch up, to the disastrous, failing to protect your intellectual property. Make sure that you have done everything necessary in your industry to file the correct registration papers, choose the right business entity for your needs, and remain compliant with any regulations.Being a Lone WolfA corollary to the above points about organizing your finances and legal matters is the error of trying to do everything yourself. You may not be at a point where you can afford to hire staff, but a few hours of a lawyer or accountant’s time can save you money in the long run. In addition, make a point to network with other business owners, and look for mentors and others you can partner with.Spreading Yourself Too ThinThis can take many different forms. Sometimes it looks like making promises about your capacity for providing goods and services that you can’t keep. Other times, it means trying to do too many things instead of finding your niche or simply attempting to work beyond your capacity. Everyone needs food, sleep, and a little down time, even the most successful entrepreneurs.The post Find Success and Avoid These Startup Mistakes appeared first on The Startup Magazine.
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2022-07-18 08:24:47
The Research and Development Tax Credit: A Comprehensive GuideThe statute on Die Steuergutschrift Für Forschung Und Entwicklung (Research Allowance Act, FZulG) permits tax reductions for research spending. Following an investigation into the applicant’s compliance with the substantive requirements, the certification authority issues a certificate stating that a beneficiary R&D project does exist. For the year 2020, the maximum credit or refund is 750,000 euros, whereas for the years 2021-2026, it is one million euros.R&D tax creditWhat Are the Possible Advantages That Could Come From Utilizing the R&D Tax Credit?If a corporation is eligible, claiming research and development tax credits might result in considerable cost savings and these advantages include the following:An increase in the flow of cashRelief from income taxes for companies that are operating at a lossSubmit a credit request for open tax years that occur before 2020. If the R&D initiatives have already been planned, then applications for subsequent years might be submitted in advance as well.A decrease in the tax rate that you payQualifications To Receive Die Steuergutschrift Für Forschung Und EntwicklungCOMPANIESAny businesses that are obligated to pay taxes in Germany according to the terms of the Income Tax Act and the Corporation Tax Act, insofar as they create revenue in conformance with Section 2 Paragraph 1 Sentence 1 Number 1 to 3 of the Income Tax Act, are eligible to make a claim. This includes businesses of any size, legal structure, or sector.In the event of a co-entrepreneurship by the provisions of Section 15 paragraph 1 sentence 1 number 2 of the Income Tax Act, the co-entrepreneurship acts in place of the taxpayer in the capacity of a beneficiary.Activities Eligible for Die Steuergutschrift Für Forschung Und EntwicklungAutomation or enhancement of internal production proceduresSoftware development of new and enhanced versionsIntegration of modern equipmentThe development of data centers, big data, and data mining instrumentsAPI integration and other technologyInnovation in financial technologyEmploying external experts for any of the above activitiesThe creation of new or enhanced itemsCreation of prototypes, first products, and models Evaluation of alternative substances Evaluation of alternative substancesFirmware developmentCreation and enhancement of network hardware as well as softwareThe creation of simulatorsRisk management system developmentProcess of Applying for The Research AllowanceThe application consists of two steps. In the initial phase, the research and development project is being prioritized while in the second phase, this consists mostly of claiming the incurred project expenditures.Phase 1: Technical project proposalA request for Research Allowance must be made to the Certification Office for Technical Projects. Although it also gets some commercial data and an approximate cost estimate for your project, the certifying body’s primary responsibility is to determine whether yours is a research and development project. To do this, the following conditions must be met:It should be novel, thus the initiative must seek to acquire fresh information It should be creative, thus it must be uniqueIt should be done systematically, thus it should follow a strategy and adhere to a budgetIt should be uncertain, thus there must be ambiguities regarding the outcome; andIt should be transferable and/or reproducible, thus there should be opportunities for repeatability.If the certifying organization verifies that your initiative is a research and development project, you are legally entitled to receive financing. To this end, the certifying organization sends the notification immediately to your tax authority.Phase 2: Tax authority…

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