5 April 2023

The steps to success 

Before applying for a fiscal incentive in Belgium, there are several things that enterprises should know to ensure that they are eligible and that their application is successful. Here are some key considerations: 

Eligibility criteria 

Be familiar with the eligibility criteria for the fiscal incentive you are applying for. This will vary depending on the type of incentive, the size of your company, the industry you operate in, and other factors. Make sure that your company meets all the necessary criteria before applying. 

Application procedures 

Understand the application procedures for the fiscal incentive you are applying for. This includes the application form, the required documentation, and any deadlines or other requirements. Make sure that you have all the necessary information and documentation ready before you start your application. 

Available funding 

Know the amount of funding that is available for the fiscal incentive you are applying for. This will help you determine how much funding you should apply for and how it can be used to support your company’s innovation activities. 

Reporting requirements 

Understand the reporting requirements for the fiscal incentive you are applying for. This includes regular reporting on the progress of your innovation activities and how the funding is being used. Make sure that you are able to meet these reporting requirements. 

Other funding sources 

Be aware of other funding sources that may be available to your company. This includes grants, loans, and other financial support from government agencies, private investors, and other sources. Consider whether combining fiscal incentives with other funding sources can help you achieve your innovation goals more effectively. 

By being aware of these considerations, enterprises can ensure that they are well prepared to apply for fiscal incentives in Belgium and maximize their chances of success. 

Make a choice between financing options (or combine!) 

There are various financing options for R&D in Belgium, each with its own set of risks and benefits. Some of the most common financing options for R&D in Belgium include: 

R&D+I grants 

Grants are a popular financing option for R&D in Belgium, and are provided by government bodies, non-profit organizations, and private foundations. The benefits of grants include the fact that they do not need to be repaid, and can provide a significant amount of funding for R&D activities. However, the application process for grants can be competitive, and there is no guarantee that an enterprise or researcher will receive the funding they apply for. 

R&D tax incentive

Tax incentives are a form of financing that provide a reduction in taxes owed to the government in exchange for investment in R&D activities. The benefits of tax incentives include the fact that they can provide a predictable source of funding for R&D activities, and can be applied over a period of several years. However, the eligibility criteria for tax incentives can be strict, and the amount of funding provided may be limited. 

Risks and benefits 

The risks and benefits of each financing option will depend on the specific circumstances of the enterprise or researcher involved. It is important to carefully evaluate the costs and benefits of each financing option before making a decision, and to work with a financial advisor or other expert to ensure that the chosen financing option is appropriate for the needs of the enterprise or researcher. 

R&D consultancies can help optimize the R&D financing strategy of an enterprise in Belgium in several ways: 

Assessment of the enterprise’s R&D needs 

A consultancy can assess the enterprise’s R&D needs, identify potential areas of investment, and help prioritize R&D projects. This can help ensure that the enterprise is investing in R&D activities that are aligned with its strategic objectives and that have the potential to generate a positive return on investment. 

Identification of funding sources 

A consultancy can identify and evaluate different funding sources for R&D activities, including grants, tax incentives, and private financing options. The consultancy can help the enterprise determine which funding sources are most appropriate for its needs and can provide guidance on the application process. 

Development of a financing strategy 

Based on the assessment of the enterprise’s R&D needs and the identification of potential funding sources, a consultancy can help develop a financing strategy that optimizes the use of available resources. The consultancy can help the enterprise balance the risks and benefits of different financing options, and develop a plan for maximizing the impact of R&D investments. 

Support in the application process 

A consultancy can provide support throughout the application process for grants and tax incentives. This can include assistance with the preparation of applications, ensuring compliance with eligibility criteria, and providing guidance on how to optimize the application to increase the chances of success. 

Monitoring and evaluation of R&D activities 

A consultancy can help monitor and evaluate the progress of R&D activities, and provide feedback on the effectiveness of the R&D financing strategy. This can help the enterprise identify areas for improvement and adjust its R&D financing strategy accordingly. 

FI Group can provide valuable support to enterprises of all sizes looking to optimize their R&D financing strategy. By helping to assess R&D needs, identify funding sources, develop a financing strategy, support the application process, and monitor and evaluate R&D activities, our expert consutlants can help ensure that the enterprise is making the most effective use of available resources to achieve its strategic objectives. 

Yvette Poumpalova

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