Having a positive impact is part of our corporate DNA. We do this by providing products and services in three key areas: Money, Advice and Workspace. We’ve been dedicated to our mission for over 40 years now, and in this time, we’ve helped thousands of businesses start up, sustain and scale their businesses. In our ESG Strategy, we outline our social objectives, including the commitment to contribute to driving inclusive economic growth.
In FY24, we are happy to report that we made great progress towards this objective as we supported over 22,000 businesses across the UK. Across our Advice division, we supported over 9,000 businesses across a number of programmes, including:
Help to Grow: Connecting ambitious business leaders with mentors.
Global Business Innovation Programme (GBIP): Helping innovative SMEs to collaborate and explore global markets, accelerating business growth.
Within Money, we offer three key services:
Flexible funding facilities for exporting businesses through UK Export Finance (UKEF), a competitive broking service to help businesses access the best business and property finance for them, and patient capital through Newable Capital, offering long-term investment to founders looking to retire.
In FY24, we supported 180 businesses with export finance, 400 through broking and have been continually supporting our 6 portfolio companies:
JC Atkinson & Sons is an innovative funeral service provider specialising in eco-friendly solutions.
Commercial Maintenance Services (CMS) is a trusted provider of comprehensive maintenance solutions for commercial properties.
Dancerace provide cutting-edge technology revolutionising online finance.
London Fire Solutions (LFS) is a premier fire safety and protection company ensuring safety across London’s diverse landscape.
Weldfast is a leading provider of welding solutions, delivering excellence in fabrication and metalwork.
ARC Building Solutions is as dynamic construction firm specialising in sustainable and efficient building solutions.
Within our Workspace division, we helped almost 5,000 businesses find their dream office, a space from which to grow their businesses through our office broker, Officio. Within our network of workspaces across the UK, we home over 2,000 businesses.
Supporting businesses with Advice Programmes
Global London
Global London is making a significant impact in promoting social equality and inclusion. The programme is designed to support London’s underrepresented businesses, particularly those in the most deprived boroughs, by providing them with the knowledge and framework they need to succeed internationally.
The main objective of Global London is to encourage community engagement and participation among SMEs that are often disengaged from business support. This is achieved through a variety of activities, including one-to-one adviser sessions, workshops, and trade missions. The programme also delivers ‘Women in Business’ networking sessions and partners with organisations that specifically support Blackowned businesses, ensuring that support is available to those who are often overlooked.
The success of Global London is evident in its outreach campaign, with 93% of businesses participating in the programme coming from disadvantaged groups. A notable example is the Paris Fashion Week (PFW) Trade Mission in 2023, which showcased 15 brilliant London businesses run by underrepresented founders. All participating companies were from underrepresented groups, and 66% were based in deprived Boroughs.
OUTCOMES TO DATE
96 businesses from disadvantaged groups have been supported.
13 of these businesses have already won international contracts to the value of approximately £1.3m.
14 jobs created and 34 jobs safeguarded.
Inclusive Supply Chain
Inclusive Supply Chain is dedicated to supporting smaller businesses, particularly those owned by underrepresented groups across London. The programme aims to help these businesses who have little experience with winning larger contracts successfully access opportunities in the supply chains of larger public/private buyers.
The programme works with businesses based on their current stage of development, providing access to suitable opportunities and assistance with completing the tendering process. It also promotes the benefits of engaging with local suppliers and buyers and brings forward suitable lower-value packages that smaller SMEs have a realistic opportunity to win.
Through successful outreach campaigns and collaborations with other disadvantaged group organisations and local councils, the programme has reached businesses that have never explored the supply chain opportunities available. An impressive 82% of businesses participating in this programme are from disadvantaged groups.
OUTCOMES TO DATE
22 new contracts won by clients from disadvantaged groups to a contract value of £544,905.
26 Decarbonisation Plans have been completed by disadvantaged SMEs as a result of the programme’s support.
Supporting businesses with Workspace
NewFlex’s XCHG delivers social impact through workspace
NewFlex, the workspace division of Newable Group, works with landlords to increase the value of its workspaces for users and, in doing so, delivers social impact for communities.
XCHG. a NewFlex managed workspace in 22 Bishopsgate, is designed to provide a dynamic workspace for creative individuals. Our agreement with our landlord client at the XCHG contains a Section 106 planning obligation. This is a legal agreement used to mitigate the impact of new developments on local communities and infrastructure. These agreements can include a variety of requirements, such as community facilities, environmental enhancement and economic contributions. Our agreement covers the latter, and outlines a requirement to support local businesses.
XCHG offers discounted ‘Sec106 Workspace Memberships’, which are tailored to attract, actively support, and nurture small start-ups and businesses. These memberships are accessible to charitable organisations, startups and businesses and many of these will also have social impact at their heart. Qualifying businesses get their XCHG workspace memberships discounted by 50% compared to typical London workspace costs.
In the first two years, XCHG has hosted 245 events with 8,242 participants, and contributed over £400,000 in donated work, meeting and event space to 17 startups and social impact organisations from all across London.
XCHG also works with a wide range of organisations as Section 106 Partners. These partners enrich the content and programming, and through them XCHG reaches out to disadvantaged groups to offer discounted and free meeting and event space for training, seminars, pitch competitions, and other learning and business-growth programmes.
Social Impact & Partnerships
XCHG has now forged partnerships with diverse organisations across four key categories and these have been instrumental in advancing XCHG’s social impact objectives, particularly in knowledge-sharing and skills development.
The four categories of established partners include academic institutions (e.g. University of Greenwich, Urban MBA); social innovation organisations (e.g. Femtech Labs, GEWE Network, Mentyoo); creative entities (e.g. Design Council, Micebook); and technology-focused organisations (e.g. Conception X, UK PropTech Association, Interlude).
XCHG engaged with 15 partners across these four categories throughout its second year of operation, nine of which meet Section 106 requirements.
IMPACT IN YEAR TWO
55 Section 106 workspace members by end of Year 2.
£135,214 worth of Workspace Support provided to 17 start-ups and social impact organisations through discounted or free workspace memberships (£100,820 in Year 1).
125 in-person events in Year 2, including conferences, seminars, pitch events, and training sessions (120 in Year 1).
4,882 attendees across these events (3,360 in Year 1).
£68,129 worth of meeting and event space contributed for Section 106 partners’ social impact programming. Programmes ranged from mentorship for female founders to equipping marginalised young adults with enterprise skills. (£107,462 in Year 1).
Supporting businesses with Money
At Newable Money, we understand that every business is unique. That’s why we offer a diverse range of financial products and services tailored to meet the specific needs of SMEs.
Newable Finance: Finance for business
Our advisory team collaborates closely with SMEs to identify the best financing options.
Here’s how we can help:
- Business Finance: Whether a business needs working capital, equipment financing, or growth funding, we provide free and independent advice to find the right solution.
- Property Finance: Investing in property can be a strategic move for business expansion. Our offerings include Commercial Mortgages and Buy-to-Let Mortgages, enabling businesses to secure properties as part of their growth strategy.
Newable Commerce: Simplifying international trade
For businesses engaged in international trade, our hassle-free export trade funding facilities ensure smooth operations. We support companies exporting goods and services globally, helping them navigate financial complexities and seize growth opportunities.
Newable Capital: Equity for businesses
Beyond traditional financing, we act as trusted partners. Our equity solutions empower management teams to drive growth. Whether it’s strategic investment or management buy-outs, Newable Money supports businesses at critical junctures.
SUCCESS STORY
Unsecured loan for two practice opticians
Situation:
Two London-based practice opticians approached Newable Finance seeking funding to relocate one of their practices. With over 50 years of experience, they offer comprehensive eye testing and dispensing services.
Challenge:
To facilitate the practice relocation, the opticians needed financing for fitting out and refurbishing their new premises. Newable had a longstanding relationship with the business, spanning more than five years.
Our Solution:
300k of funding successfully secured to meet the project requirements.
Results:
Rather than continuing to lease existing premises, the clients purchased their own practice location. The obtained funding allowed them to create a modern, well-equipped space, ensuring the long-term success of their business.