Silent Shade is an innovative Australian company now operating in the global textiles industry. They have 3 innovations in the market place that have been commercialised, including ‘the hero’ a child safety device for blinds. They have invested in an in-house 3D printing and design resource to enable continual product development to lead the window furnishing industry in innovative design.
Since establishment, significant capital investment had been made to commercialise the products and going innovation required a funding injection. Global market research also identified a substantial opportunity to export ‘the hero’ to the USA. Budgeting to explore the potential and the investment needed to be successful in this market was required.
This liquidity event has enabled ongoing development and advanced plans to expand into the USA market. Hanrick Curran has provided expert guidance on developing a budget and planning for an eventual application for the Export Market Development Grant with all marketing and promotional expenses being invested cautiously to qualify and appropriate documentation maintained.Hanrick Curran methodically guided and supported the documentation of the research and development performed to achieve the product innovations. These were lodged with AusIndustry and resulted in the maximum available R&D Tax Incentive which offset tax payable on company profits and the remaining benefits triggered a cash refund.
The journey I have been on in the last few years has been quite extraordinary, I did not anticipate the investment required to progress my business to where it is today and certainly wouldn’t have made it this far without my advisers at Hanrick Curran. I have access to specialists who make sure I have the right business structure, stay on track with my strategic plans, remain compliant and keep me out of hot water during the inevitable periods of growing pains. Importantly, I have access to specialists who guide me through the maze that is involved in maximising access to Tax Incentives and Government Grants that have given me the cashflow to keep the business moving forward.
Tony Hopkins, Managing Director, Silent Shade