Responsible Finance member Purple Shoots is looking for “hidden entrepreneurs” in South Yorkshire as it expands after helping hundreds of people start small businesses in Wales.
The not-for-profit micro-finance organisation tackles poverty, disadvantage, unemployment and social isolation through encouraging entrepreneurship and independence.
Founder and CEO Karen Davies launched Purple Shoots, a registered charity, in 2013 after becoming frustrated as she saw many people with great business ideas rejected for finance.
“I’d worked for a lot of my life in the financial services industry in London and Wales,” says Karen, “and found myself saying ‘no’ to people who had viable business ideas and were perfectly capable of running a business, because they didn’t have money to put in, a good enough credit score, or had a history of illness or disability, or some other reason.
“I realized the economy was so much poorer for all the people whose talents were being wasted, but as I learned about the international successes of microfinance I thought It would work in Wales. So I set up Purple Shoots to tackle unemployment and disadvantage because I could see a lot of people who had skills, talents and something to contribute in some of the most left-behind communities.”
Since 2013 it has made more than 700 small loans with an average size of £2500, all to people “at the bottom end of our economy for all sorts of reasons, but who have entrepreneurial skills and aspirations.” It has an astounding track record, starting more than 550 businesses and supporting more than 100 existing businesses, and has helped around 850 people move out of unemployment. Remarkably, 96% of its clients were on benefits when they received a loan to start a business – and at least 8 out of 10 of the businesses it has supported have succeeded.
The charity also runs “self-reliant groups” helping people to save money, learn new skills and start a journey towards employment or self-employment; in 2017 it expanded these from Wales to into parts of Bristol and Gloucestershire with significant pockets of poverty.
Its work has won accolades from politicians of all parties, international foundations and investors, won local and national awards and been featured positively by media including the BBC and ITV.
It has now appointed Richard Kirtley as its first Divisional Director, with his first task to find ten hidden entrepreneurs from South Yorkshire who dream of starting their own business as a route to financial independence.
Kirtley, 27, joins after two years with the legendary Sheffield Forgemasters, a global leader in steel production and engineering. He’d volunteered with Purple Shoots for almost a year and when a role was advertised he jumped at the chance.
“Many parts of South Yorkshire are similar to areas in Wales where Purple Shoots has helped people transform their lives by starting a business,” he says. “If the bank can’t help you, we might be able to offer support with your business and even an ethical loan – we love helping people make their ideas blossom.”
Newcastle-born Richard studied Law at the University of Sheffield and loves the community spirit so engrained in the city. A keen hockey-player, runner and cyclist, Richard spent two years in international business development for high-performance machine knife manufacturer Durham Duplex before joining Sheffield Forgemasters.
“People sometimes say it’s easier for a huge business to borrow millions of pounds than for many folk to get a loan to start a business,” he says. “But micro-finance lets people create their own future and follow an entrepreneurial path. I’m thrilled to be building relationships with South Yorkshire’s voluntary, community, social enterprise, business and finance communities and I look forward to helping hidden entrepreneurs to thrive.”
Contact Richard and Purple Shoots’ South Yorkshire office at Purple Shoots South Yorkshire, Cubo Offices, 38 Carver Street, Sheffield, S1 4FS via 07508 880489 or email.