Success Doncaster

January 08 - archived news

South Yorkshire businesses have received a £7 million boost to kick-off the New Year.

The region will have access to the money through South Yorkshire Investment Fund, after it was made available by Yorkshire Forward.

The Regional Development Agency recently announced it is providing almost £10 million to support business growth in Yorkshire and the Humber.

The money from Yorkshire Forward will enable SYIF to continue to invest in businesses until a new regional fund is developed in the Autumn. It is hoped this new fund will be worth up to £120 million.

SYIF was established in 2001 and has invested almost £50 million in South Yorkshire businesses (including money with management), created and safeguarded 8000 jobs and helped generate more than £450 million worth of additional sales.

Tony Goulbourn, South Yorkshire Investment Fund, said: "We are delighted by the announcement from Yorkshire Forward as this will help continue the success SYIF has already achieved.

It is important we maintain the momentum and this funding will ensure that South Yorkshire businesses can continue to access finance until the Regional Successor Fund is in place later this year.

It is very much business as usual and we urge any company within South Yorkshire to speak to us about how we can provide the funds required to assist their growth.

We will continue to work closely with the financial intermediaries in South Yorkshire to help make the Fund available to as many businesses as possible whilst continuing to maintain rigorous investment criteria in these difficult economic times".

SYIF can provide seedcorn, loan and equity linked investments, ranging from £15k to 2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

For more information about South Yorkshire Investment Fund, please visit www.syif.com or Tel: 07109 386377.