Forum launched to provide help for inner-city entrepreneurs

The Leeds Entrepreneurs' Forum has been launched to nurture young businesses in deprived parts of Leeds.

It's the first collaborative venture organised by Financial Leeds, the private sector-led partnership which promotes the financial services industry in Leeds, and Leeds Ahead, a social enterprise which enables businesses to help community projects.

Commercial bankers from HSBC, Santander and Yorkshire Bank will meet the young entrepreneurs every quarter to help them with key aspects of running a business, such as planning growth, financial management, cash flow, and strategies to reach new markets.

Two more projects which will link bankers with schools and community environmental projects are being developed with support from Barclays Bank.

The entrepreneurs in the forum have been selected from the Leeds Enterprise Growth Initiative (LEGI) programme which helps small businesses to develop in inner cities. They include A.J Flooring, which sells ceramic flooring and Digital Arc, an online marketing consultancy.

Howard Kew, the chief executive of Financial Leeds, said: "The idea for the forum came from discussions between members of the Financial Leeds Banking Group and Leeds Ahead. Most new business failures happen in the first two years so by giving help at an early stage, we hope to improve the survival rate.

"New businesses are essential to help the city out of the recession and for future employment, particularly in the inner city areas of Leeds."

Stephanie Burras, chief executive of Leeds Ahead, said: "We welcome this support from the banks. This is another way we can work together to unlock more of the city's potential to the benefit of all who live and work here."

The Entrepreneurs Forum is the first of three initiatives supported by Financial Leeds and Leeds Ahead. The other two, which are being developed, will link bankers with schools and community environmental projects.