Supply difficulties, production interruptions, changes in standards and means of production, electrification of the fleet, transition to Industry 5.0, sustainable development… How do you finance the transformation of your industry in times of crisis?
In a global context affected by the Covid-19 crisis, the Belgian automotive industry has been thoroughly disrupted and faces new challenges. The supply chain was affected, forcing some factories to temporarily close their doors. Adapting the means of production to the evolution of the market and standards (stricter emissions, etc.) requires major investments. To remain competitive, companies need more than ever to finance new R&D projects and hire more qualified staff.
To meet these challenges, resources are available, but not always easily accessible.
Our experts suggest that you identify the financial levers your company could have at its disposal to ensure its growth.
A more complex supply chain
The unprecedented context of Covid-19 has created new threats to the automotive industry. Complicated supply of electronic components and unproductive phases require a thorough rethink.
The players in the automotive industry have to rethink their entire supply chain: diversification of supply sources, relocation of the production of components closer to the end users, formation and financing of stocks and planning of the buildings to store them.
All these changes create a strong need for liquidity; fortunately, there are measures available to companies, such as tax incentives (for improductivity, construction, renovation…) and regional subsidies to finance your Capex investments.
Financing your projects and recruiting qualified R&D personnel
Maintaining its activities remains one of the main priorities for any company. In this context, R&D remains one of the key elements and must continue to be able to count on appropriate budgets.
To help you do this, it is possible to optimize certain investments, in particular those in patents and in the recruitment of qualified personnel. Our experts take care of the formalization of your projects to ensure that the requirements of the competent authorities are met.
Industry 5.0, innovation at the heart of your production assets
In 2019, according to EAMA (the European Automobile Manufacturers Association), Belgium ranked 6th in Europe in terms of vehicle production per employee. With 1.54% of total European production, Belgium remains competitive thanks to enhanced productivity through the continuous introduction of new technologies, such as those that have characterized Industry 4.0 (robotization, IoT and digitization).
The need for financial and human resources has never been more urgent, as we enter Industry 5.0, where the focus will be on the interaction between people and new technologies, the Industrial Internet of Things (IIoT) and digital technology will be further exploited to gain flexibility and efficiency.
Our experts in innovation financing will help you set up all the incentives adapted to your activity and context.
A practical and holistic approach
Ayming relies on more than 18 years of experience to guide and support you in your growth.
During expert meetings, our teams identify your financial flows by mapping your revenues and R&D expenditures, the taxation of your investments and the optimization of your payroll to determine your positioning in relation to industry standards.
Next, our specialists delve into the analysis with a scientific audit of your tax and administrative practices, ensuring that all opportunities are exploited and secured in accordance with the latest legislation.
Finally, our consultants ensure the granting of the various financing measures by compiling the file, registering it and following it up on your behalf with the competent authorities.
Download our automotive brochure and discover our case study.
Automotive brochure in French Automotive brochure in Dutch
Consult our offer of business performance support for Automotive
- Partial exemption from payment of the withholding tax on wages for researchers
- Increased tax exemption for investments in innovation and energy savings
- Tax exemption for innovation revenue (aka Innovation Box)
You can also benefit from our whitepapers, which give you an overview of the current state of innovation and R&D, both nationally and internationally.
- Belgian Innovation Barometer 2021
- The International Innovation Barometer 2021
- Global R&D Tax Incentives: The Benchmark 2020
Please contact us for more information or for a personal meeting in which our experts explain the possibilities of optimization for your organization.