Archive - October, 2009

£100K investment loan for Swindon to fight recession

October 23, 2009 in Funding, Swindon, Wiltshire with Comments Off

GWE Business West has made a positive step to help local business and the economy fight the very real effects of recession by enabling Fredericks Foundation to establish a Lending Hub for Swindon and Wiltshire.

Fredericks Foundation was set up in 2001 by a successful entrepreneur, Paul Barry-Walsh, and helps disadvantaged people who aspire to become entrepreneurs to start and grow their own businesses. The charity also provides a range of business support and microloan funding to new and small companies.

To help combat local unemployment, redundancy, company insolvency and downsizing, as well as the related social impact, GWE Business West will make a significant investment of £100k in the Lending Hub over 3 years.

GWE Business West will also provide additional support. Free office and meeting space at Park House Business Centre in Swindon’s historic Railway Village, as well as resource and expertise

Established in Swindon as a major player in economic development for nearly 25 years, GWE Business West is well placed to participate. Its knowledge of local companies and contacts will help identify local people willing to get involved in managing and growing the fund, and in making the final decision on requests for loans. 

Nicky Alberry, Chairman of GWE Business West said, “Although community funds exist in other parts of the region, this is an innovative response to supporting new and young businesses in Swindon and Wiltshire at a time when mainstream financing is hard to access. In stable economic conditions, there will always be a need for this kind of lending. But in a recession, which has had a major impact on Swindon and Wiltshire’s economies, it is especially important that this assistance is available.”

Charles Dodwell, Chief Executive of Fredericks Foundation said “Having an enterprise community hub in Swindon is more than a desirable objective; it is an essential component of Swindon and Wiltshire’s economic recovery and future prosperity.  We will consider you for a loan and business support if you can demonstrate that you have made a genuine application for funds to your bank or a mainstream lender – and that you have been turned down.  Your business can be at any stage: you may require money to start-up; capital to expand your business; or funds to bridge a gap. Whether you are a sole trader, in a partnership or have a limited company you may be eligible for a loan.”

Start-up businesses are offered up to a maximum of £10,000, though the average loan is less than £5,000. For established businesses with a financial track record the maximum loan is £20,000.

A hub for Swindon and Wiltshire will complement Fredericks Foundation’s other operations across much of the South of England including  Hampshire, Isle of Wight, Kent, Sussex, Surrey, Buckinghamshire, Berkshire, Oxfordshire, Gloucestershire and the West Country. 

For further information, visit www.fredericksfoundation.org. If you are interested in volunteering to help Fredericks Foundation, email volunteers@fredericksfoundation.net. If you are interested in becoming a partner, email partners@fredericksfoundation.net

Swindon: We’re here – why aren’t you?

October 23, 2009 in Swindon with Comments Off

Some of Swindon’s biggest businesses have signed up to support a campaign to ‘back’ Swindon in a bid to attract inward investment into the town centre.

Swindon’s excellent location makes it a major hub for businesses with company’s such as Honda and Zurich already based in the town. So positive is their experience of operating here, they have signed up to back The New Swindon Company’s latest marketing campaign ‘Swindon: we’re here – why aren’t you?’, an initiative that will market Swindon as a destination of choice to more than 3,000 businesses along the M4 corridor, from London to Bristol.

The concept behind this campaign, which is based around a dedicated website launched in September, is to provide companies interested in re-locating with information on what Swindon has to offer, along with local business advice and investment opportunities.

Councilor Phil Young, Lead Member for Regeneration, at Swindon Borough Council commented: “Swindon has a great offering – a fantastic location, competitive property prices and a successful local economy.

We already have a large number of well known businesses operating from the town centre and over recent months have seen increased demand for office space from companies looking to move from London, Bristol and Bath. With the delivery of a £1 billion regeneration scheme underway, which will bring with it a number of new developments and top class office, retail and residential space, things look set to get even better.”

Carol Heneghan, Director of Marketing at The New Swindon Company added: “Significant investment is required in order to attract a broad range of businesses and create a more vibrant town centre, and so the aim of this campaign is to get Swindon’s positive messages out there. Local companies Honda, Zurich, GWE Business West, Monahans, Howard Tenens and Wow! Creative have already signed up to ‘back’ Swindon, and our aim is to get as many businesses as possible to come on board and recognise what the town has to offer.”

Mike Godfrey, Senior Manager and Chief Engineer at Honda, said: “We came to Swindon for a number of reasons. The town has an excellent skills base and a large number of people with a background in manufacturing and engineering. We were able to move straight into a large site with options for future expansion, and this combined with existing infrastructure that could link us to the main supplier base, ports and airports made it an obvious choice.”

Chairman of GWE Business West, Nicky Alberry said, “One of GWE Business West’s core aims is to make Swindon one of the best places to live and work by enabling the local business community to play a part in influencing the way our area is shaped, managed and developed. We fully support any campaign that helps to create a prosperous local environment and will be assisting The New Swindon Company in spreading the message that Swindon presents major opportunities for business.” Go to http://www.newswindonbackingbusiness.co.uk/ for more information on Swindon’s regeneration plans, investment opportunities and testimonials from businesses already operating successfully in the town.