Most small businesses depend on a bank overdraft to keep their company afloat. That's fine if you are able to arrange overdraft facilities. It is well-recognised that it is easier for established, successful companies to borrow money than start-ups. It's a matter of assessing risk. Entrepreneurs often rely on family and friends for financial support, but not everyone can access loans in that way.
The Business Enterprise Fund believes that it is important to fill the funding gap for those who are unable to draw on the main sources of loans for one reason or another. If no-one is prepared to take a risk with those who do not have good credit ratings, then we will lose the potential of creative and talented individuals. That's why we took the decision to set up the Fund. With backing from the Government and the unique involvement of our business mentors and buddies, we are offering a package of support to help create successful small businesses across Leeds, Bradford and North Yorkshire. The Fund is investing in the future of business in the region and that's a risk worth taking
BEF significantly enhances the support and services to pre start, start up and micro businesses
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