Business Link Yorkshire: An Intermediary’s View
Business Link Yorkshire is a Government funded service designed to promote enterprise.
Business Link is coordinated nationally, while local delivery is driven by the nine Regional Development Agencies in England. In Yorkshire and Humber, Business Link Yorkshire delivers the Business Link service with funding provided by Yorkshire Forward, the Regional Development Agency.
A major part of the advice provided by Business Link Yorkshire is sign-posting businesses to organisations that can help them, and this includes South Yorkshire Investment Fund.
Through Business Link, small and medium sized businesses have gained access to the varied range of funding packages from SYIF.
Alan Scott, Business Advisor, who introduced many of these deals to the Fund said: "In times when bank lending criteria is being reviewed and more restricted, many businesses are finding it increasingly difficult to gain access to funding to help them grow.
However, SYIF remains in the market to provide gap finance, helping to ensure contingency in deals for the many businesses still looking to expand.
Alan added: "In their planning to move to larger premises some of my clients have taken advantage of four-year loans, alongside significant bank support, to ensure all costs were fully covered.
"Similarly businesses moving from rented to freehold premises have taken up SYIF loans at an early stage to ease the deal at the outset.
"I have been working with an early stage company where SYIF provided the working capital. A young lady entrepreneur had successfully secured a major retailer customer in its food product and had some bank support alongside SYIF. This is an example of how finance from both banks and SYIF can work together very well.
"Business Link Yorkshire is pleased to continue working closely with SYIF and is well placed to advise any business on its expansion plans using its independent and impartial advice and diagnostic approach."
For more information on Business Link Yorkshire, call 0845 604 8048 or visit www.businesslink.gov.uk/yorkshire
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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).