Want to Access Business Finance in 2019, or to Maximise Tax Efficiency in Your End of Year Return? | Blog | Foundation East
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Want to Access Business Finance in 2019, or to Maximise Tax Efficiency in Your End of Year Return?

20th December 2018 By Katy Ford in Membership, Tax Relief

What a transformational year 2018 has been! It’s seen the launch of the open banking system, a call for crucial investment from our governing body, our CEO named as one of the 100 most inspiring women in Suffolk, a record number of Foundation East clients win and be shortlisted for a range of national awards and a BBC documentary showcase how our loans and support have helped a number of our clients’ businesses.

All this (and more) in spite of an 82% drop in funding for the responsible finance sector from the European Union since the Brexit referendum, which is proving challenging to replace.

 

So, with dwindling funds and increasing demand from struggling businesses ahead of us, what can you expect from Foundation East in 2019?

You can expect us to make more loans to more local businesses and to focus more on how we can all help each other grow a vibrant business community in the East of England.

How can you help Foundation East and the business community in the East of England?

  • You can spread the news that we’ve got money to lend. Know someone with a viable business idea struggling to access finance? Put them in touch.
  • You can invest in our CITR shares, either as an individual or a business, and enjoy 25% tax relief on your investment over five years, as well as the feel good factor of knowing your money can help more go-getters, like those featured in our annual review. Alongside these personal benefits, your investment will also contribute positively to social and economic impact across the East of England.

How does our responsible finance company create social and economic impact in East of England?

Foundation East has helped to transform so many people’s lives over the past year. Not just those of the people who receive our business support and loans, but to their family members, the communities in which they live and the public purse.

Indeed, for every £1 Foundation East lends to businesses that have been turned away by mainstream finance, we generate £15 worth of economic impact in the Eastern region. That’s more than twice that of the wider UK responsible finance sector lends, which generates £7 economic impact for each £1 loaned.

We wrote about this in our annual review, where we chose to celebrate our outstanding record in supporting women led businesses. It’s not just women-led businesses that we loan to, as evidenced by our range of case studies and recent appearances on A Matter of Life & Debt

Take a look at episode 5, featuring Foundation East funded community gym, Boston Body Hub; episode 6, featuring Foundation East supported chocolate making social enterprise, Harry Specters; or episode 10, featuring Essex carpenter and craftsman, Dan Rule of Pure Tree Design.

“We support anyone who lives in the East of England who has a viable business plan, regardless of who else has turned their funding application away.”

What’s more, because we understand the business and social enterprise landscape in our region, we have a habit of investing in enterprises that go on to, not only pay back our loan, but win awards along the way.

“We back local enterprise that go on to win national awards.”

Drum roll please, for:

So, to conclude, as you begin to imagine your year ahead, please remember, Foundation East still has funds to disperse to other people in the East of England with sound business plans, so please point any you know in our direction. 

Be mindful too that time is running out to invest in Foundation East CITR shares before the end of this tax year and we could do so much more with your help. So, if you’re interested in learning more, take a look at these FAQs about our CITR shares, or get in touch!

Here’s to a prosperous 2019 all round!

  • About the Author
    Katy Ford

    Katy Ford

    Katy’s knowledge of community finance is extensive, having worked for Foundation East since its inception in 2004. She is recognised locally as an influential business leader by the Suffolk 100 and nationally, as a founding member of AskIf, an online network of community-based lenders. Previous to moving across to community finance, Katy was the treasury manager for a large insurance company. She also has experience as a SME owner, having run a small hotel.