Want to Access Business Finance in 2019, or to Maximise Tax Efficiency in Your End of Year Return?
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:
- Harry Specters, who won the Social Enterprise of the Year Award in this year's Citi Microentrepreneurship Awards
- BeeBee Wraps, who not only made it onto next year’s shortlist for the Citi Microentrepreneurship Sustainability Award, but whose founder, Kate Austin, has also been named Entrepreneur of the Year in the SME National Business Awards 2018
- Hannah and Fabio of Hitchin-based Fabio’s Gelato, who are on the Citi Microentrepreuneurship ‘Young Entrepreneur’ shortlist for next year
- Boston Body Hub who took home the Community Involvement category from the National Fitness Awards 2018
- PlayPhysio, whose founder, Will Jackson, has just won a two year fellowship from the Packard Foundation’s new initiative, ‘A Million Realities’. ‘A Million Realities’ aims to find tomorrow’s social impact leaders and offer them the investment and support needed to help them become the change makers of the future.
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!