As part of our accountability to the region here is our "A Successor Fund to South Yorkshire Investment Fund" report:
It is the view of the SYIF board that a successor fund is vitally needed in the interests of South Yorkshire business. The Fund reaches businesses that could not otherwise obtain loan or equity finance, because it invests where the banks and traditional sources of equity funding will not invest.
It takes risks that banks and equity funds will not, as is demonstrated by the default rates experienced over the last four years. Above all, with less financial support available to business in the post-Objective 1 regime, the Fund’s revolving finance approach to business support will ensure that the available cash goes further.
SYIF has consulted widely in South Yorkshire with a full range of stakeholders and there is a general support for a successor fund on the basis that the Fund will provide a commercial and sustainable fund, driven by the local businesses for local businesses.