Fredericks Foundation is a charity focusing on supporting small start-up entrepreneurs, that would usually be excluded from mainstream finance. They aim to give them a hand up, not a hand out. Fredericks organise a series of small, repayable, not for profit loans, which are used for starting small businesses as a sustainable way for the recipients to work themselves out of poverty. Most of the businesses established are small service-led businesses such as landscape gardeners or hairdressers and some are small retail establishments such as coffee bars or cafes.
Prior to enlisting the help of Ethical Goods, Fredericks Foundation, was in a difficult financial position having been excluded from a large Government backed contract. E.G. were hired to help rebrand, restructure, and improve the procedures within the charity via the creation of a strategic repositioning plan. Four years later, Fredericks Foundation have have launched a range of different initiatives such as a Women Loan Fund to help to address the shortfall of the number of women running businesses. They have relaunching their website, shone a light on their vision for the future and hosted successful charity fundraising events, all of which has helped them to bring onboard new supporting partners.
In 2019, for the first time, the charity awarded more loans to women than men, ranging from £2,000 – £35,000. For more of insight on how E.G. has helped Frederick’s please review the below video which features the CEO of Fredericks Foundation.
When Covid-19 forced us all into lockdown, many of the business owners that Fredericks has helped were badly impacted, particularly those who were in the first year of trading as they fell outside of any Government support. For that reasons Fredericks took the moral decision to give interest free payment holidays and took the hard financial decision to remain open in order to be available to give their beneficiaries practical support, guidance and advice at the end of a phone and to signposting them to help that was available for their businesses.
Many of Fredericks small business owners have suffered during this time and lost not only their businesses but also their personal investment into those start-ups. It’s been hard for the charity too. Fredericks have lost 50% of their planned fundraising income for the year and many of the events where they invest in relationships with future supporters have not taken place. They have been grateful for some small grant support from various funders who have responded with more flexible application processes and have benefitted from some leeway on rates payments etc. The past two quarters have been a difficult time but the team remain positive as they build on the ground that’s been lost due to the pandemic. Their main focus continues to be to support their beneficiaries with the finance and coaching that they need.
If you are in a position to help them, please either donate, or take part in their 2020 Challenge. To do this you could commit to walking 20 peaks, cycling for 20 hours, exercising for 20 days straight or going sugar free for 20 days and getting sponsored to do it. Do whatever you fancy, as long as it involves the number 20! Please help Fredericks to continue to transform lives. You can create your fundraising page or donate, using Fredericks Crowdfunder page.