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New companies claim lion's share of BEF business lending Magazine

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According to national statistics over 600,000 start-up businesses were launched in england in the past one full year,?demonstrating an acceleration of entrepreneurship over SME growth.

Northern business lender the Business Enterprise Fund has announced that the very first time rolling around in its history there’s been a shift in lending with 54% of loans in the past Yr being given to start-up companies, overtaking SMEs.

BEF, a not-for-profit organisation, has lent 1.8m to start-up businesses throughout Yorkshire along with the north east.

Stephen Waud, Chief Executive at BEF, which contains offices in Leeds, Bradford, York and Darlington, said: “Business trends have certainly changed. In the past Yr we’ve provided Initial Loans to just about 200 new businesses and financially supported 160 established SMEs. At BEF young children and can that aiding these young businesses noisy . stages of development and financial uncertainty can help build the bedrock individuals changing economy.

“As the official delivery partner for your government’s Initial Loans scheme, we’re especially likes to show off the financial support we’re providing to unlock business potential with entrepreneurs in the neighborhood.”

BEF, which can be seeing an expanding growth and demand through the drink and food industry, shared its funding advice at the inaugural Independent Drink and food Academy New company and Growing Business workshops in April, a fresh partnership between Leeds City Council and Leeds Beckett University.

Guy Lincoln, of Leeds Beckett University plus the Independent Munchies Academy, said: “The Independent drink and food scene in Leeds have been dynamic and rapidly expanding throughout the last a couple of years and we’re keen to offer these young businesses while using the support required. Utilizing a business which include BEF means new and potential independent companies are aware about the accessible opportunities coming from a well-established business lender.”

Stephen Waud adds: “We offer start-up businesses loans as high as 25,000 and tend to be currently seeing a large growth and demand across specific industries. The corporation potential is offered, it merely needs guidance plus the sort of financial support which mainstream lenders can be struggling to provide. Partnerships much like the Independent Munchies Academy are a very good support system for young businesses and we look ahead to working with them again down the road.”

Since its launch BEF has supported 3,000 businesses and created or safeguarded over 2,000 jobs throughout Yorkshire along with the north east. Within the last few Year, the organisation has loaned at all times . 6.4m.

The picture shows BEF’s?Leeds Investment Team, Jeremy Meadowcroft, Hilary Watson, and John Hall.

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