Fredericks Foundation: the charity that helps disadvantaged people start a business
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Paul Barry-Walsh
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"Give a man a fish, and he eats for a day. Teach a man how to fish, and he eats for a lifetime." I don't know who said that, no doubt, Shakespeare or someone similar, but my father also did - he repeated this to me endlessly growing up so that I should expect no free handouts or lunches in life.You only have to look at modern society to see how far we have moved from this sound principle. Government is an accomplice to the crime of further impoverishing people by not forcing them to learn how to fish, but feeding them for a day. Last June, I discovered a wonderful well-kept secret in the UK: the Fredericks Foundation, a private foundation which helps "the disenfranchised" to get back up on their feet again founded by Paul Barry-Walsh, one of the UK's leading technology entreprenuers. Although single moms, ex-convicts and the disabled are all lumped together in their definition of "the disenfranchised" [I was careful to point out that there is a difference!], the point is that people are helping themselves, not taking hand-outs. The difference between the developing world and the first world in many cases is access to capital. When I think how easy it was to get my first credit card for $2500 at age 18, and how an adult in many parts of the world can't get the equivalent, though he may be very responsible and hard-working, it hits home how unfair the world is. But, life is unfair, and all we have to go with really is our accountability for our own lives - starting wherever we start, and shooting for the stars. I'm so pleased that Fredericks is having enormous success. What they are not doing, however, is getting the word out about the tremendous impact they are having. We at Ariadne Capital want to help them "claim victory" and continue to expand their sphere of influence. Check out their site - http://www.fredericksfoundation.org, and read the interview with Joe Michel, their President. Remember, the best firms in the UK are giving 1% of their profits to Fredericks.
Julie Meyer
Frederick's Foundation
When entrepreneur Paul Barry-Walsh set up his first business, he found
it difficult to raise capital. "I thought if it was difficult for me,
it must be virtually impossible for someone who didn't have advantages
like me and the dream of running their own business must seem impossible."
So he started up the charity Fredericks Foundation in 2000 (www.fredericksfoundation.org)
to help people, irrespective of age, with funding, advice and guidance
to start up their own business or to develop an exciting idea.
The charity helps Financially Disadvantaged, Unemployed, Single Parents, Ex- offenders and the Disabled (FUSED) by offering small £250 grants to test a business idea; repayable 'soft' loans of up to £5,000 which have low rates of interest (two per cent above base rate) and ongoing business guidance and support from the Foundation and volunteer business mentors.
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| Joe Michel |
On average, the charity starts three businesses per week. Single parent Alexandra Salway, 38, has been helped on three occasions by Fredericks Foundation to start and develop her own interior design business.
She says: "I wouldn't be here now if it wasn't for the invaluable help I received from Fredericks Foundation - not only did their funding help my business, but I found their encouragement and dedication to my business development outstanding."
To continue helping people like Alexandra, the charity needs assistance. To place a donation, offer business sponsorship or become a volunteer mentor, please telephone 01276 472722 or visit www.fredericksfoundation.org.
About Paul Barry-Walsh
After a successful sales career, Paul started Safetynet, the computer
disaster recovery company in 1986. Ultimately, 15 years' later, the company
made £6m profit, with 12 offices worldwide. In June 2001, he sold the
company to Guardian IT for £170 m.
In 1996, he started Netstore, which today turns over £40m a year and is quoted on the London Stock Exchange. He remains executive chairman.
About Joe Michel
Joe is the CEO of Fredericks Foundation, one of the most efficient and
fast growing charities in the United Kingdom. His expertise has proved
vital in ensuring this initiative is properly structured, resourced and
governed. He held a number of senior management roles with IBM over a
period of 28 years.