Fund builds closer links through secondment
Finance Yorkshire is building closer links with intermediaries around the region to raise awareness of the £90million fund for businesses.
Tim Brind, Manager at BHP Corporate Finance (BHP), a leading corporate finance advisor in the region, is on secondment with the Finance Yorkshire Equity team based at their office in Barnsley.
Finance Yorkshire’s Equity linked investments range from £100k to £2m and mezzanine loans (with equity options or redemption premiums) from £100k to £1m can be provided.
Tim said: “The secondment will enable me to better advise clients on how best to access finance available from Finance Yorkshire and also how to present their business in the best possible light when submitting an application for funding. Equally, I can help Finance Yorkshire understand the importance that firms like BHP play in the investment process – vetting and enhancing business plans and also setting expectations of business owners early.
“Companies need a strong business plan which succinctly captures the investment opportunity. Details of the funding requirement and where monies will be spent to achieve key objectives need to be clearly articulated in the plan.
He added: “Writing a business plan can often be a difficult challenge; although the business owner has a wealth of knowledge about their business, identifying which elements are most important to the new investor can often be a challenge. Seeking professional advice in writing the plan could make the difference between success and failure.
“With each investment opportunity we will firstly assess the likelihood of Management achieving their forecasts, which ultimately drive the returns Finance Yorkshire are looking to achieve given the risk profile of the investment. We are also keen to understand the wider benefit to the region, for example the number of jobs created or safeguarded as a result of the investment.”
“Meeting and building a relationship with the management team is also key as these are the individuals Finance Yorkshire are backing to achieve their business plan. This is one of the most important parts of the investment process, as after the initial meeting we have a strong indication of whether the business is a suitable investment or not.”
Tim says: “For BHP the secondment offers a valuable insight into a very important funding tool for businesses in an environment where finance from traditional sources is undeniably difficult. Furthermore to ensure Finance Yorkshire is successful in meeting its objectives it is imperative that the Fund has close working relationship with accountants, advisers and bankers. It is through these intermediaries who have direct relationships with the region’s businesses, that investment opportunities will be identified.”
Finance Yorkshire is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from Yorkshire Forward’s Single Programme, and £45million match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or ring 0845 649 0000.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire