BEF Social Impact Report reveals £29 million benefit to Yorkshire and North East economy
For every £1 invested, over £4 has been added in value to the local economy this year
Our Social Impact Report and Annual Statement also reveals a continuing trend in start-up businesses, with 175 new businesses created in the last year.
Over five years BEF has supported the creation of 824 new businesses, helped save or create over 2,000 jobs, and invested over £30 million resulting in £86 million economic benefit.
Our chief Executive Stephen Waud is thrilled to see the impact BEF’s lending has made.
“As a social enterprise, we do things differently. This year’s figures - and figures from the previous five years - demonstrate that the way we responsibly lend to small businesses can be sustainable and have an enormous impact on the economy.
“The alternative finance sector has transformed since we began in 2004. We’ve positioned ourselves to grow and avoid the pitfalls for which continues to be an innovative and extremely competitive landscape.”
Of the 452 client deals this year, 23% of BEF’s lending was to manufacturing businesses. This synchronises with feedback from the West and North Yorkshire’s Quarterly Economic Survey Report in April 2017, which reflected a growing sector with an overall positive outlook.
Discover more of the impact our lending has made and read some of our client stories in the full report here.