Mr Pearce founded the Minerva Innovation Group, a specialist in research and development (R&D) tax credits, from his family home in 2020. Launching during the pandemic with no external funding, the Rutherglen-based firm has since expanded into Ireland and increased turnover by over 200% since 2021. The company has grown from a solo operation to a team of 10.

Mr Pearce said: “It was an incredible honour even to be shortlisted alongside some of the UK’s most ambitious businesses and to be announced a winner was a slam-dunk moment I will never forget.

“More importantly, it is recognition for my amazing team who have delivered exceptional growth whilst staying true to our core values of honesty, diligence and forward-thinking innovation. It’s proof that a people focus and high professional standards to deliver sources of R&D funding, namely tax relief, delivers results.”

Minerva’s R&D tax consultants deal mainly with small and medium-sized businesses. The firm’s diverse client base takes in veterinary medicine and livestock farming, racehorse breeders, architecture, construction and engineering firms.

Mr Pearce said: “Our expertise comes from understanding both the finance and the complex processes around research funding regulations.

“So many different businesses can benefit from R&D grants and tax relief without having to spend all their business hours on R&D. Short-term initiatives to improve the delivery of services or the development of goods also qualify if there is an ‘appreciable’ improvement. It is not limited to laboratories or scientists.”

Minerva noted its growth has been based on a “consultant-led approach focusing on sector expertise and not a sales-led strategy”, declaring: “It has led to 100% retained business.”