Some information about who we are, what we do and how we do it.
We were founded in 1982 as Greater London Enterprise (GLE). In 2016, we rebranded as Newable to reflect our bold growth agenda and the wider national footprint of our activities.
Newable is a company limited by guarantee. A company limited by guarantee is much like an ordinary private company limited by shares. We are registered at Companies House, we submit our accounts and an annual return each year and we have directors. A major difference is that a company limited by guarantee does not have a share capital or any shareholders but has members who control it. Our members comprise the 32 London boroughs and the City of London Corporation. Our members each have two representatives on the board.
Newable strives to unleash the extraordinary potential of British business men and women. We place equal emphasis on the commercial return from and social impact of our activities.
We call it Building Business Confidence. In business, as in life, confidence transforms. It is the magic ingredient that underpins success; driving things forward, turning risks into opportunities and giving people the strength to stick with it. In these changing times, we need confidence more than ever. We need to be able to face uncertainty with creativity and determination. We need to believe in a better future and we need confidence to flow through the economy to fuel it.
Newable is a values-driven business. Our values were defined as a result of a company-wide engagement process. The five values are: Dream Big, Get Going, Grow Together, Always Improve, and Pass it On. Together the values help foster a culture that generates business confidence.
In order to thrive, businesses need loans and/or equity investment, advice and workspaces. Therefore, Newable has four main pillars – Lending, Investing, Advice and Property – united by a common goal of developing and delivering the high quality products and services to meet these needs. A central team providing core services of finance, HR and marketing supports each pillar.
Newable operates a flexible business model. Most of our products and services are wholly owned by Newable. In addition, we work in partnership with other leading companies. Finally, we also deliver products and services on behalf of others; for example, we are a leading delivery partner of the Department for International Trade, providing exporting advice to UK businesses.
Newable has a Board of Directors, Executive Directors and a Leadership Team of business leaders. The Chair of the Board of Directors is Guy Nicholson. The Executive Directors are Chris Manson CEO, Mike Walsh CFO, Monica Whitefield Human Resources Director and Nick Wright Marketing and Communications Director. Profiles of the Board and Executive Directors as well as the Leadership Team can be found in the Team section of this website. Newable strives to meet the governance standards expected of a FTSE 250 company. Details of our governance procedures can be found in our annual report.
Newable’s net assets were £49.4m at 31 March 2017. In the last financial year, our operating profit was £4m.
In the year to March 2017, Newable:
Treating everyone equally and fairly is central to our business. It is not only the right thing to do; it is because we believe that diversity fuels prosperity. We support companies of all shapes, styles and sizes because we know variety and diversity fuels a thriving economy, building resilience and sparking innovation. Reflecting that diversity within our business is a key priority for us. Details of our gender balance, age profile and ethnic diversity can be found in our annual report.