New iniative to increase investment in South Yorkshire
Published: 19th January 2004
Pro South Yorkshire Executive, Tony Gernon, Chairman Paul Firth of DLA solicitors in Sheffield with Chief Executive of SYIF Tony Goulbourn.
Pro-South Yorkshire formed to promote professional services to businesses
A new project to promote professional services in SouthYorkshire is being hosted by South Yorkshire Investment Fund.
Pro-South Yorkshire is a new business-led initiative made up of local companies in the business, professional and financial services cluster.
Initially funded through European Objective One funding, Pro-South Yorkshire's primary role will be to assist in attracting new investment into South Yorkshire in addition to increasing the involvement of professional firms with local businesses.
SYIF were successful in their bid to win the project funding which amounts to £180k over three years. Pro-South Yorkshire aims to replicate the success of similar initiatives in other parts of the country which have promoted their professional and business services as a key marketing strength in attracting new investment.
Pro-South Yorkshire will be managed by Tony Gernon. He has over 20 years experience in business in both small and large companies covering construction materials, training and business services and specialist finance.
He said: "I am delighted to be involved in this initiative which I am sure will benefit the region for many years to come."
Pro-South Yorkshire will be overseen by a steering group of local professionals and is chaired by Paul Firth of DLA solicitors in Sheffield.
Paul Firth, said: "This is an exciting initiative which will promote the considerable strengths and abilities of professional firms as part of our ongoing regeneration of the South Yorkshire area."
Tony Newson, Programme Executive at Objective One said, "I am pleased to support this initiative which promises to enlist the considerable expertise and experience in the Business, Professional and Financial services sectors in South Yorkshire to support the attraction of new investment and the wider regeneration of the South Yorkshire economy."
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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).