Your ability to finance your SRED claim (aka ‘sr&ed claim) simply signifies the cash flowing of your non repayable government grant. We think that anytime you can hasten cash from the government and turn that into immediate cash flow and working capital, well… that is a good thing.SRED grants, (sr&Ed grants) are of course the funds you received from Canada Revenue Agency based on the filing of your Scientific Research and Experimental Development (SR&ED) claim. These funds have never been more generous and many Canadian business owners and financial managers are not aware that the program even exists, let alone their ability to partake in the billions of dollars of non repayable grants issued by this department within CRA Canada. Essentially it is the largest support for research in Canada. Many clients are always asking us if there are ‘government grants and loans ‘. We are of the opinion that the two best programs in Canada to finance your firm are the federal BIL/CSBF loan and of course the SRED program.Your firm ability to generate a claim immediately turns into a non repayable cash grant. Timing is everything, and you have the ability to finance that claim if you want to monetize those funds and get them working inside your firm. For many early stage and start up firms the ability to finance their SRED claim is often the largest receivable the firm has that year. And the beauty of the program is of course that as along as your firm is a private corporation you can partake in these funds.As companies, and even as consumers we generally use an ‘expert ‘to prepare our taxes and file them. It is certainly no different with SRED and we recommend that you use a sr&Ed consultant to ensure your claim is prepared properly. Naturally using their own expertise, or the governments self assessment tool you want to be sure you are eligible for the grant, given that it takes time to prepare and file the claim.Naturally after filing a professionally prepared claim you are of course entitled to wait for you cheque – that timeframe can be anywhere from a couple of months to potentially close to a year depending on some key factors as your first time filing, and the due diligence that SRED employees do on the technical and financial aspects of your claim.So you are eligible for Sr&Ed. You have filed a claim. You have been made aware you can finance the claim, but you are not sure how. In general the banks in Canada don’t finance these sorts of claims – that’s a general statement, but 99% of the time we are pretty sure we are correct in making that comment. Therefore it is strongly recommended you contact a business financing advisor who specializes in SRED finance. At that point it’s a relatively simply process, and we encourage clients to view it as they would any business financing, from a lease to a loan arrangement. There is standard application information, and the whole process, up to an including funding, can be completed in a manner of weeks.As a general rule it makes sense to finance claims that are over 250k in size, but quite frankly smaller claims can also be financed. There is no challenge to the amount of financing re the size of a SRED filing – Claims well in excess of a million dollars can be easily financed.The key advantage of financing a claim is that you are not undertaking any debt; you are just discounting a receivable that you have – that receivable being the SRED claim itself. The sr&ed filing itself is the actual collateral for the financing – and if you want more good news then you should be aware you don’t makes payments on a SRED claim finance. The funds advanced are netted out from your final chq from the government. Usually SRED claims are financed at 70% of their filed value that leaves a buffer in case part of the claim is downsized when approved.Cash flow is king, if you have a SRED claim be aware that claim is financeable, and your ability to get those fund working again usually puts you in a more competitive stance within your industry, and allows those funds to be used for further research or any general working capital purpose. Speak to a trusted, credible and experienced advisor in this area to ensure you are aware of the benefits of sr&Ed finance – claim those funds!
Are we experiencing an identity crisis within the Body of Christ? Are we true worshippers of God or are we entertainers for the world? Is it okay to entertain people in order to get their attention about the Word of God? Before I address these questions, I would like to give a definition of worship and entertainment. This will enable us to be able to identify ourselves. Worship is an expression of love and devotion toward our heavenly Father. Entertainment is an activity designed to give people pleasure or relaxation. Entertainment is anything that causes enjoyment. According to both definitions, worship is clearly God-centered and entertainment is man-centered. When we worship, our main focus should be to praise, honor, exalt, and please God. Entertainment is basically an avenue used to amuse or give pleasure to our own flesh and others. Worship and entertainment are direct opponents within the Body of Christ. The worshipper wants to praise and honor God; but, the entertainer wants to be exalted and please others. Which one are you?A true worshipper is a child of God who strives to live a lifestyle of obedience according to the Word of God and the guidance of the Holy Spirit. God is the center of our worship and also orchestrates our worship (1 Corinthians 14:40). Through His Word, we have been given clear instructions on how we should worship Him. A worshipper knows that he or she must be a believer in Christ in order to worship God. A worshipper knows that God is a Spirit and must be worshipped in spirit and in truth (John 4:23-24). All worshippers’ hearts should be focused on pleasing God in their thoughts and their actions. Every worship experience is for the pleasure of God, not for man. Please do not misunderstand; worshipping God should be a joyous occasion for the believer. We can worship Him through musical instruments, song, and prayer. We must learn that emotions are not the main focus or incentive to worship; but God is the center of attention. A true worshipper praises and honors God because He is worthy of all that we have to offer and it is a commandment for His people (Exodus 20:3). True worship keeps us focus on the sovereignty of God and our eternal gratitude for His perfect expression of love for us through Jesus Christ.An entertainer in the Body of Christ is someone who does not understand or does not care that God is the main focus of worship. They have the impression that in order to get people to listen to the gospel; you have to provide entertainment to keep them coming back to church services. An entertainer thinks that they are to “get something out” of worship and feel good during and after the process. The first mistake with this mindset is thinking that worship is about you. The Spirit of the Lord is the author, leader and center of our faith and worship, not the flesh (Colossians 1:16-17). The Word of God does not need the aid of gimmicks or theatrics. Jesus stated that His people will hear His voice and follow His instructions (John 10:27). Entertainment will attract great numbers concerning people in worship services; but, will take the focus off God. When people come to worship services for entertainment, they will always seek the next big gimmick or show. Once they are no longer amused, they will go elsewhere to seek entertainment. Fun and games in worship service will never reach or sustain anyone. The Word of God and the Holy Spirit changes people’ lives (Proverbs 3:5). Entertainment is an event that stimulates our emotions; but, the Spirit of the Lord will sustain and cultivate us in our Christian walk.We have taken a look at the man in the mirror concerning worship and entertainment. Can you see yourself? Are you are worshipper or an entertainer? Hopefully, we have arrived at a truthful answer. Worship is not an entertainment event; but a long-term commitment. The entire life of the believer is a worship experience. We should live our lives as a “light” to a lost world that will continually bring praise and honor to our heavenly Father. Remember, worship is not a short-term event to entertain man; but, a lifetime commitment to the glory of God (Isaiah 26:4).