social impact report & annual statement

Business Enterprise Fund (BEF) Announces New Chair of the Board

Experienced lawyer looks forward to helping BEF increase its social mission and impact.

Business Enterprise Fund (BEF), the Bradford-based not-for-profit social enterprise and leading provider of responsible finance, is pleased to announce the appointment of Tim Hamilton as the new Chair of the Board of Directors.

The appointment comes as BEF also unveils key findings from its latest Social Impact Report, showcasing the organisation's commitment to fostering economic growth and sustainability in communities across the North.

Tim, a Partner at Pannone Corporate continues to enjoy a longstanding and successful career within the legal profession. He is an experienced leader who champions relationships and collaboration in business as keys to long term success.

"We are delighted to welcome Tim as the new Chair of the Board," said Stephen Waud, CEO of BEF. "His leadership, vision, and dedication to fostering economic development align perfectly with our mission to empower businesses and create positive social impact. We are confident that Tim will help guide BEF to even greater success in the years to come."

BEF’s board of directors is now composed of eight members:

  • Alex Beardsley, Joint Managing Director of ABL Business
  • James Mason, CEO of West & North Yorkshire Chamber of Commerce
  • Katie Hurrell, CEO of Bradford District Credit Union
  • Laurence Beardmore, Former Group Commercial Director of York Coffee Emporium
  • Penny Hembrow, Former Senior VP, of CGI
  • Simon Jackson, Director of Investments of BEF Group
  • Stephen Waud, CEO of BEF Group
  • Tim Hamilton, Partner – Corporate Services of Pannone Corporate

Tim Hamilton, Chair of BEF Board said: "It is an honour to be asked to serve as Chair at BEF and I am looking forward to supporting its talented team in continuing to deliver the opportunities that are described in the Social Impact Report."

In addition to this important announcement, BEF is pleased to highlight key findings from its latest Social Impact Report:

  • Investment: BEF invested £16m in new and existing businesses across the region helping drive the local economy.
  • Business Created: BEF helped create 396 new UK businesses, helping individuals to make their business dreams a reality.
  • Job Creation: BEF has played a pivotal role in job creation across the region, with 1,885 of jobs supported by BEF-backed businesses in the past year alone. These jobs contribute to the local economy and improve the livelihoods of individuals and families.
  • Diverse Entrepreneurship: The report reveals that BEF has continued to champion diversity in entrepreneurship, with women-led businesses making up 34% of its clients while 14% of its clients are ethnic minority led businesses. This commitment to inclusivity fosters a more equitable business landscape.
  • Community Engagement: BEF remains dedicated to giving back to the communities it serves. In the past year, the organisation raised nearly £10,000 in to support good causes, strengthening its ties with local stakeholders.

For more detailed information on BEF's social impact, please download the complete Social Impact Report.

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