Advertising Feature
How to
incentivise
& retain key
people?
BEF Celebrates
Landmark
Anniversary
What are the options?
BEF completed its 10th Anniversary celebrations
in 2014 in style with an evening event held at The
Leeds Club.
Funding boost
for Brewery
BEF has supported a local new development with a £50,000 loan giving the
Bradford Brewery business a major financial boost.
This additional funding stream will improve the brewery’s business cashflow and
provide an all-important safety net as renovation work begins at the recentlyacquired site on Westgate, Bradford. The £400,000 development will see the
conversion of the disused Shaw’s Moisture Meters factory into a huge 10BBL
brewery with an initial production capacity of 16,000 pints per week.
The brewery and attached Brewfactory pub, due to open in Westgate later this
year, already has Bradford City Centre Growth Zone funding and the support of
former Dragon’s Den star, Doug Richards.
Managing Director of Bradford Brewery Matthew Halliday said: “The Growth Zone
grant underpins the building work and also provides capital for the purchase of
our brew kit, but this new loan facility will allow us to grow much more quickly and
forge ahead with the recruitment of our full staff team.
“The cash will give us additional security in our first years – a time when
businesses most often struggle. We’d like to thank the team at BEF for the
incredible support and enthusiasm they’ve shown for our business. We
approached them as they are a Bradford success story in their own right and
we’re looking forward to working with them in the years to come”.
Finance and Support when
BEF is a social enterprise and a Community Development Finance Institution. All
profits are reinvested in the company to further socialneed it most
Businesses aims.
Fund director Stephen Waud said: “Since making our first loan back in 2004, we
have assisted almost 2,000 businesses across West and North Yorkshire creating
over 1,000 jobs. We are proud to be able to count Bradford Brewery in these
figures as it is imperative that we keep hold of the potential and diversity that
businesses such as this bring to the region.”
BEF has recently entered into a new deal with the European Investment Fund
(EIF), boosting its fund for lending to Yorkshire businesses by £2 million.
The deal marks the 10th anniversary for the Businessturned my business plan into
Start-up funding from BEF Enterprise Fund (BEF)
enabling them to immediately issue loans directly to businessessecuring eight North
a reality which resulted in the business in West and
contracts within the first four focus on SMEs
Yorkshire and the newly acquired North East region, with a days of trading. who
Steve Wilson,
have been turned away by mainstream lenders. Director, Performance Glass
26
FINANCE
Clients past and present plus people who have
been part of BEF’s growing success over the
last ten years met to celebrate BEF’S landmark
anniversary. Speakers included Stephen Waud,
BEF’S Fund Director and Sandy Needham,
CEO of West and North Yorkshire Chamber of
Commerce.
A special 10th anniversary BEF video giving an
insight into BEF’s achievements over the last ten
years and the diversity of the businesses that
have been supported had its inaugural screening.
The video can be seen via the following link:
https:/
/www.youtube.com/befund1
“I am so proud of what the Business Enterprise
Fund has achieved over the last ten years; lives
have been changed through the simple use of
finance. We started out in 2004 with £360k to
lend and this has grown year on year with BEF
aiming to lend £6m this year. We fund those
who otherwise would not be able to get their
businesses off the ground, to their next stage
of development or to rise from the ashes when
things go wrong. By doing this, we encourage
and maintain the creativity and diversity of
both individuals and businesses throughout our
region,” said Stephen Waud.
Business owners recognise that one of their
most valuable assets is their workforce; they are
regarded as a vital key to its success. However,
in a competitive and challenging employment
market it is all too easy to lose key people to
competitors if the key people do not consider
themselves properly rewarded and incentivised in
recognition of their contribution to the business.
Businesses may address this by offering flexible working, flexible
benefits packages or, for senior people in the firm, providing a share
or share option incentive.
Share and share option incentives may include the following:
Business
Enterprise
Fund
10 Years Lending to Yorkshire businesses
Finance and Support
when Businesses
need it most
Start-up funding
from BEF turned my
business plan into a
reality which resulted
in the business
securing eight contracts
within the first four
days of trading.
Steve Wilson, Director,
Performance Glass
0845 2003919
www.befund.org [email protected]
@Be_Fund
West & North
Yorkshire Chamber
of Commerce
Enterprise Management Incentive (EMI) scheme
This is the most tax advantageous share option scheme. Capital
gains tax (CGT) rules should apply with the potential for the
director / employee to qualify for Entrepreneurs Relief (the 10%
CGT rate). Not all companies qualify for EMI.
Unapproved share option scheme
This is not tax efficient, but it may be the only option where share
options are preferred to shares, but the conditions are not met for
the more favour X