HSBC: An intermediary’s view
Across South Yorkshire, at four dedicated Commercial Centres, HSBC is committed to supporting the business community and, through its relationship with SYIF, has provided solutions across a wide spectrum of sectors.
Most recently, funding has been sourced for Emertees Limited - South Yorkshire’s premier supplier of branded school uniform - through Andy Chaffer, business director at SYIF and Mike Farr, commercial manager at HSBC, Barnsley Commercial Centre.
As operating in the UK continues to pose challenges and becomes more expensive, businesses will increasingly look abroad for opportunities. Research from HSBC Commercial Banking found that half of businesses expecting to grow this year believe they need to trade internationally.
Venturing overseas can provide businesses with new opportunities and profit potential. Fundamental to success is having the right financial support, so a strong banking relationship is crucial, together with sound, impartial guidance from a dedicated team of professionals from organisations such as SYIF.
An international bank account, guidance on managing international cashflow, trade services and foreign exchange management (FX) can help businesses manage the demands of international trade. A bank with global reach and experience can be of particular benefit. SYIF’s experience on the ground supplements this global knowledge to ensure that businesses can fulfil their ambitions.
Martin Lyons, HSBC’s Area Commercial Director, North Lincolnshire and Doncaster comments: “The current economic climate hasn’t dampened the desire for businesses looking to expand overseas. HSBC has dedicated and experienced relationship managers who can call on colleagues in the UK and internationally. Our aim is to provide strong support for our customers and we’re always willing to talk to potential customers to see how we can help. We work closely with SYIF throughout this process to ensure supplementary funding is accessed.
“It is evident that the UK business landscape is evolving. At HSBC, we will continue to ensure that through partnering with our clients and professional colleagues, we will provide a service to take them into the future
“Now could be the prime time to look for opportunities in new markets. With the right advice and appropriate financial foundations, forging trade relationships or expanding operations overseas can aid business survival and success.”
|← Funding boost gives adventurous business a new direction||| Profile Summer 2009 |||Local businesses gain from SYIF expertise →|
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).