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Fredericks Wiltshire Launches at STEAM
Local representatives of the Swindon and Wiltshire
business community joined [1] Fredericks
Foundation at STEAM on Thursday 29th April
for the Swindon launch of Fredericks Wiltshire.
Fredericks Foundation was set up in 2001 and helps
disadvantaged people who aspire to become
entrepreneurs to start and grow their own businesses.
The charity provides a range of business support and
microloan funding to those who have difficulties with
securing business loans or investment via traditional
means.
 Paul Barry-Walsh, Fredericks’
founder and chairman, said, “Since 2001, we
have helped 714 businesses and created over1,000 jobs
with £2.4 million of loans. The skills of our
client support managers play a vital role in helping
the businesses we support to succeed - 75 to 80% of
the loans we provide are repaid.”
“Our model is incredibly cost effective -
£1,000 of loan is used on average 5 times. Only
a tiny amount of input results in major outputs. The
businesses and jobs created have a highly positive
ripple effect on the local area. Approximately a
quarter to one fifth of the people we support are on
incapacity benefit.”
“Fredericks is small, friendly and decisive.
Loans can be approved in half an hour and the money
provided within 10 days. Fredericks Wiltshire is our
first hub, which dedicates funds and a support
manager to one particular area.”
Fredericks Wiltshire has been launched in partnership
with [2] GWE Business West and Wiltshire
Council, who have both made significant investments
over 3 years. And is supported by Swindon Borough
Council.
 Alistair Cunningham, Wiltshire
Council’s service director for economy and
enterprise, said, “The ability to work in
partnership with Fredericks and GWE Business West,
was an opportunity too good to miss. In Wiltshire,
more businesses starting up with fewer failing will
result in bottom line savings and will be hugely
helpful to the area. We need to find effective ways
of dealing with issues at the front end and invest in
hope. We are delighted to have put funding into the
Fredericks Wiltshire hub and may put in even more in
the future.”
 Nicky Alberry, chairman of GWE Business
West, said, “It’s been tough for business
in Swindon and Wiltshire over the last eighteen
months. And still to come are the implications of
cuts in public sector spending. But we also see
people viewing the challenging situation as an
opportunity to do something different – to
start their own business. This is why the work
Fredericks does is so important and we are delighted
to be making a substantial investment over the next 3
years.”
“Getting approval for finance for your business
is one of the most challenging hurdles that anyone
has to jump over. In stable economic times it’s
hard enough, in difficult times it’s often
almost impossible.”
“Fredericks is another source of funds for
business men and women to turn to if they have had a
genuine application for funding turned down by their
Bank. Fredericks Wiltshire could be the light at the
end of a dark tunnel for many.”
For further information on Frederick’s
Wiltshire, visit www.fredericksfoundation.net
ENDS
Note to editors
[1] Fredericks Foundation
Fredericks Foundation is a charity that helps
disadvantaged people to set up, or expand their own
business as a means to achieve financial independence
while rebuilding their confidence and self esteem.
[2] GWE Business West Ltd
Business leadership, business membership, business
services. Playing a major role in shaping and
supporting economic growth and success.
GWE Business West operates a business leadership team
known as The Initiative. This provides a strategic
channel for the private sector to play a major role
in the way our area is shaped, managed and developed.
It provides an effective link between the private and
public sector to ensure that the interests of
commerce are taken into account. Building on the
success of the West of England Initiative, GWE
Business West is establishing an arm of Initiative
activity focussed on Swindon. Part of its immediate
role is to assist companies who are experiencing
difficult times.
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