BEF invests over £30m in Yorkshire and the North East
By Jordan WilliamsThe Business Enterprise Fund (BEF) has invested over £30m and helped to create 824 new businesses over the last five years
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The fund has also helped to save or create over 2,000 jobs and assisted in generating £86m in economic benefit.
So far this year, the BEF has made 452 client deals, 23% of which were to manufacturing businesses.
Stephen Waud, chief executive of BEF, said: “As a social enterprise, we do things differently.
“This year’s figures – and figures from the previous five years – demonstrate that the way we responsibly lend to small businesses can be sustainable and have an enormous impact on the economy.
“The alternative finance sector has transformed since we began in 2004.
“We’ve positioned ourselves to grow and avoid the pitfalls for [what] continues to be an innovative and extremely competitive landscape.”
Founded in Bradford, the BEF lends to small businesses across the North East of England, as well as North and West Yorkshire, Humberside and north Lincolnshire.
The fund’s social impact report and annual statement revealed that for every £1 invested, over £4 has been added in value to the local economy this year.
Keywords: Business Enterprise Fund, North East of England, North and West Yorkshire, Humberside, North Lincolnshire, business funding, SME finance, SME funding, commercial finance, commercial fund, SME fund, small businesses