Key Fund and South Yorkshire Investment Fund join forces to promote social enterprise funding
Published: 22nd October 2003
Key Fund (South Yorkshire) Ltd and South Yorkshire Investment Fund have joined forces to promote the breadth of funding and business support sources available to not-purely-for-profit organisations in South Yorkshire.
Both funding organisations are working together to promote the opportunities of loan finance. Key Fund (South Yorkshire) Ltd and South Yorkshire Investment Fund will be launching a new funding brochure at the forthcoming "Footsey 100" social economy trade fair on 23rd October at the Magna Centre in Rotherham.
The brochure "Supporting successful enterprise in South Yorkshire’s neighbourhoods" contains information on a wide range of funding sources and business support services available to social enterprises in South Yorkshire. The new brochure follows a successful and well-received leaflet produced for the first Footsey 100 last year.
By taking a coordinated approach to promotion of their particular forms of funding, Key Fund (South Yorkshire) Ltd and South Yorkshire Investment Fund aim to make life easier for organisations when they are looking for the most appropriate source of funding for their project.
"Key Fund (South Yorkshire) Ltd and South Yorkshire Investment Fund have worked very closely for some time now as partners supporting the social economy in South Yorkshire but this coordinated approach to promotion consolidates our actions and will make life so much easier for social enterprises looking for funding," said Ann Oldroyd of Key Fund (South Yorkshire) Ltd.
"We have realised that those of us supporting the social economy in South Yorkshire are working with the same organisations and businesses. By working together in this way we can eradicate duplication of effort and resources, and provide an integrated package of support for social enterprises in South Yorkshire," said Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund.
Key Fund (South Yorkshire) Ltd and South Yorkshire Investment Fund will be organising a series of events over the next year to provide organisations with information about loan funding and how it can be utilised by social enterprises. The events will take place across the four metropolitan boroughs of South Yorkshire and will start in the Spring of 2004.
South Yorkshire has one of the largest social economies in the UK with many of its organisations being seen as leaders in their fields. Often social enterprises work in areas of market failure or where publicly funded services are not seen as the most appropriate for the community.
The Footsey 100 has now become an annual event attracting delegates and exhibitors from right across Yorkshire and Humberside; last year nearly 80 exhibitors and over 500 delegates and guests attended the first Footsey 100, with even more expected at this year’s event.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).