At NEL, we are committed, not only to strengthening our economy by investing in the future of ambitious SMEs, but also by conducting ourselves in an ethical and responsible manner and doing our bit to support the wider community. For an overview of what we have been up to in this regard, please download NEL’s latest Impact Report:
NEL commits itself to growing the region’s economy by investing in ambitious growing businesses which are creating and safeguarding jobs, increasing trade and attracting private investment. Through our most recent fully-invested fund, the North East Growth Fund, we made over 140 investments, directly impacting over 2,200 North East jobs and attracting over £28m of additional private investment to the region, and this positive momentum continues with our current funds under management.
Since NEL was founded in 1989 we’ve managed 13 investment funds with a combined value of over £100m. In that time, we have acheived great success in helping to combat a huge range of challenges, both directly through investment in businesses to support job creation for example, and indirectly by providing the funds needed by businesses to either establish or expand the pioneering work they do to make our world a better place. You can read about some of these businesses in our Impact Report.
NEL prides itself on its strong core values. Values play a vital role in ensuring the team have a shared ethical approach to intelligent fund management. They underpin our recruitment, training, development and delivery, and ensure that NEL is entirely trustworthy and open in all aspects of business.
In 2020 we were welcomed as members of Responsible Finance, a nationwide group that is working to ensure fair and affordable access to finance and build resilient economies around the UK. As active members of this network, we strive to champion responsible finance and fully adhere to the Responsible Finance Code of Practice.
We are also proud supporters of the North East Initiative on Business Ethics, adhere to the CFA Institute Code of Ethics, and lead by example in our practices to encourage the businesses we work with to act responsibly. We see day-to-day the problems that SMEs face and adapt our business processes in reaction. We’re supporters of the Payfair Campaign for example, and have pledged our ongoing commitment to solving this problem by joining the Prompt Payment Code.
NEL is committed to minimising the environmental impacts of our business operations through continuous monitoring and improvement. Our endeavours for environmental sustainability extend further by our commitment to only invest in businesses with a positive environmental approach. We are especially keen to speak to businesses looking for funding to strengthen their environmental policies and contribute towards environmental sustainability.