Fredericks Foundation was set up in 2001 by Paul Barry-Walsh, a successful entrepreneur in his own right who wanted to help others who aspire to run their own business but are unable to obtain the necessary support to do so. Most of Fredericks Clients choose self-employment as the best (and sometimes the only), route out of benefit-dependency.
As a result of the economic downturn, as well as helping people off benefits, Fredericks Foundation has branched out to assist existing companies in need of finance who are unable to obtain it from their bank.
The charity is funded in a number of different ways, including substantial donations from its founder on a regular basis. Over the years we have been in receipt of funds from the European Social Fund and the Phoenix Fund. More recently we have been securing funding from the Governments Regional Growth Fund, in partnership with the Community Foundation Network. We also have a number of affiliated businesses that annually donate 1% of their profits as well as giving up some of their time in support of the work of Fredericks.
Fredericks believe that it will be many years, if ever, before the main Banks return to lending to this most risky of all sectors; and is laying plans to become a long-term sustainable presence in the UK, available to anyone who needs our help.