The 80/20 rule – make it pay!

Friday, September 9, 2016

Are you familiar with the 80/20 rule, also known as the Pareto Principle? In the late 1800’s Italian economist Vilfredo Pareto noticed that 80% of Italy’s land was owned by 20% of its population. And we see this principle applied today in business - 20% of customers account for 80% of business revenue and 80% of complaints are received from 20% of customers.

Did you also know that 80% of UK companies who are eligible Corporation Tax relief don’t even know it exists? If you are a limited company and you make something, or have changed a process or have developed something clever in your business then you could have a viable claim. Did you also know that you can claim back as far back as two years!

If you’re a UK company that creates new products or improve operational efficiencies, for example reducing wastage or increasing yields, whether or not they are successfully implemented there could be an entitlement to claim R&D Tax Relief. Adapting or modifying machinery or software you’ve developed is also eligible the range of qualifying projects is vast.

Receiving money, you have already spent back from the Government is always refreshing, but even more so when someone else is doing the majority of the work on the claim. So, you’ll also be refreshed to hear there are specialist R&D tax relief companies out there who will only charge you if your claim is successful.

The 80/20 rule could also apply to people reading this blog - in that 80% will still do nothing to see if their business qualifies for R&D Tax Relief…

 

Who is Elementary Solutions?

Elementary Solutions helps businesses save time and money and improve efficiency by making sure their processes, software and people are working together well. As an Exact Certified Partner, our technical business consultants have all been through the rigorous certification programme to ensure that they not only understand the Exact software solutions but, also understand how it can help your business reap the benefits efficiently and effortlessly.

 

Three things we believe in:

  1. When your business has the right processes in place you’re more in control
  2. Software should support your processes not frustrate them
  3. When your people are empowered they’re more efficient and effective

 

What makes Elementary Solutions different?

It’s not just about the software systems. Of course the software is important, but of equal importance are your people and business processes. When you choose Elementary, you can be confident in the knowledge that you are choosing a partner who understands the importance of this and can help you successfully implement your Exact Solution.

 

We work with you to design the systems and processes that will help your business achieve its objectives. We implement the software that will support the new processes. We ensure your people are equipped with the knowledge to make the most of the new processes and software. And we’re with you every step of the way until your business is enjoying the transformational power that processes, software and people working in harmony brings.

 

What is Exact, exactly

Exact is a cost effective all in one integrated cloud software solution that can help your business save time, money and improve efficiency.

 

Which Exact solution is right for your business?

 

  • Exact for Accounting
  • Exact for Professional Services
  • Exact for Subscription Management
  • Exact for Wholesale Distribution
  • Exact for Manufacturing

 

 

If you’d like to be in the 20% then contact us and arrange a call with one of our experts.


T: 0115 894 0610
info@elementary.solutions