Honest Interest, in people, in business - Challanges for growing a businesses and a sustainable sector

Below is an abridged version of an FFC press release posted to all the regional media a few months previously, we think that their is still value in the piece. In brief it contains some links to independent research carried out on behalf of Panasonic and also describes the necessary collaborations that can assist in closing the finance gaps which are a result of market failure, to help the regional sector grow supplying a third tier of business investment:

'FFC implemented an awareness drive at the beginning of 2006 with funding support provided by Advantage West Midlands, Barclays and European Funding (ERDF)...

...The majority of members can lend from 10K up to £50K with finance designed to help new and established small businesses who wish to grow; diversify or remain competitive...

George Keenan Head of Development for the FFC said “A recently published YouGov poll (SMEs in the UK: Seizing the Growth Challenge, Panasonic) of 800 small businesses found the key challenges to business growth is lack of money for investment. To progress the regions prosperity, we are now urging the regional finance community such as Banks, Accountants, Finance Brokers and Business Consultants, to signpost their small business clients to a FFC member when mainstream loan finance becomes unobtainable.”

Steve Williams Chief Executive of Impetus an active member of FFC highlighted the need to raise the profile; Steve said “In the last 18 months Impetus has lent over £400,000 to enterprise in Herefordshire, Worcestershire and Shropshire much of this financial assistance being packaged alongside other mainstream suppliers.”

Their were several regional variations comments from the our Birmingham member...

...Steve Walker Chief Executive of Aston Reinvestment Trust (ART) an active member of FFC highlighted the need to raise the profile; Steve said “ART has now lent over £5 million to enterprise in Birmingham and North Solihull much of this financial assistance being packaged alongside other mainstream suppliers.”

Including The Black Country...

Paul Kalinauckas, Chief Executive, Black Country Reinvestment Society and chairman of the FFC added “BCRS is able to help when the banks have done all they can by providing risk finance to SME’s across the Black Country and Southern Staffordshire region”

Does continuous engagement with the professional sector hold answer to the future success and sustained growth of the CDFI sector? and will engaging directly with the network of movers and shakers have an immediate and profound impact on the deal flow that is crucial to FFC development.

Many of our loans have been dispersed by working with banking partners members are keen to expand this type of cost efficient relationship, let hope our event can double our outputs, which includes our brand and PR profile. We meet again early August to agree on our agenda, we shall keep you posted.