Business Enterprise Fund has calculated that for every single 1 procured regional firms, over 4 is added value to your economy, amounting to the 29m benefit this year.
The figures, from BEF’s Social Impact Report & Annual Statement, have already been released following their successful tender earlier during on the Northern Powerhouse Investment Fund’s Microfinance contract.
BEF’s report also reveals a regular trend in start-up businesses, with 175 new business organisations created in the last year in Yorkshire as well as North East, following investment via the Government’s Launch Loans Programme, which there’re a Delivery Partner. Over five-years BEF has supported the development of 824 new businesses, helped save or create over 2,000 jobs, and invested over 30 million producing 86 million economic benefit.
Stephen Waud, Business Enterprise Fund Leader said he was thrilled to find out the quality of impact BEF’s lending made.”As a social enterprise, carry out things differently. The 2010 figures – and figures from the previous five-years – show how you responsibly lend to smaller businesses are usually sustainable and get an enormous affect the economy.
“The alternative finance sector has transformed since we began in 2004. We’ve positioned ourselves growing and steer clear of the pitfalls for which remains progressive as well as competitive landscape.”
Of the 452 client deals this coming year, 23% of Business Enterprise Fund lending ended up manufacturing businesses. Mark Goldstone, Head of Policy in the West and North Yorkshire Chamber of Commerce, said the figures look very positive.
“In one more 1 year, our personal reports have reported good growth while in the manufacturing sector with exports profiting from more competitive forex rates. Our chance of the sector has continued to take a position and so I’m really very happy to see nearly one-fourth of BEF’s lending has supported this important sector.”
Looking ahead, the report points towards further company growth, following continuing development of the web application.?”We’re continuing to streamline our processes and we all can serve more businesses inside an efficient way, meeting our client’s needs, to allow them to connect to the finance they ought to grow their business.” said Stephen.