SMEs have chance for share of £6m

AN investment company in Yorkshire has received a funding boost of £6m to support regional small and medium-sized enterprises.
By The Newsroom
Published 1st Jun 2013, 01:01 BST

Business Enterprise Fund (BEF), a social enterprise based across Bradford and Leeds, received the investment from the Regional Growth Fund to expand its work in offering loans to SMEs.

BEF, which recently opened a second office, in Leeds, has expanded its team by 35 per cent to 15 staff since the start of the year and has just opened its £2m City Hub incubator office space in Little Germany, Bradford.

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BEF director Stephen Waud said: “Our aim is to lend to and support 200 businesses this year and we are determined to grow ourselves to meet the latent demand.”

BEF lent £2m to businesses in 2012 and hopes to see this rise to £4m this year and £6m in 2014.

Related topics:SMEsYorkshireLeedsBradford