One of Investec’s core values is to make an unselfish contribution to society. Nurturing an entrepreneurial spirit is another. The Bromley by Bow Centre has been our entrepreneurial partner since 2008. We have supported a range of their programmes. In 2011, when other sources of funding disappeared, we took the opportunity to become their sole partner, keeping the centre’s unique social impact incubator, Beyond Business, open.
Now formally known as Investec Beyond Business (IBB), the programme seeks out entrepreneurs committed to creating successful businesses that deliver positive social/environmental impacts in the challenged boroughs of Tower Hamlets, Hackney and Newham. After a competitive annual selection process, 5-6 applicants are awarded seed-funding of up to £17,000 each as well as specialist business advice and support from Investec employees.
Investec is proud to continue to support the programme, empowering local people to create sustainable solutions to problems in the community. As a partnership, we have launched 47 enterprises since 2011, creating more than 250 new jobs, and yielding a combined annual turnover in excess of £4.4m. The rate of enterprises going on to trade beyond their third year increased from 43% to 81% in that period.