Enterprise
Developing local supply chains is one of the key areas in which BP can contribute positively to development, with potential for enhanced capability and economic and employment benefits
BP supports three major enterprise programmes in the UK: BP D’Arcy in South Wales (since 1987); Sirius in Hull (1999); and My Future’s In Falkirk in central Scotland (2002).
The common features of all three programmes are:
- BP funding stimulates and leverages additional funding from other partners such as government agencies or European Union projects
- The investment enables seed funding and business advice for start-ups as well as ongoing support and funding for expanding small businesses
- All loans are approved by a management board, which includes ongoing participation by senior leaders from the local BP business operation
My Future’s in Falkirk
My Future's in Falkirk is an ambitious 10 year vision begun in December 2002 to transform Falkirk and the surrounding area into a thriving, diverse modern economy that benefits residents, businesses and visitors alike. The plan is backed by BP, Falkirk Council and Scottish Enterprise Forth Valley.- Innovation Falkirk: Developing 21st Century technologies
- Successful Falkirk: Creating capacity for business growth
- Experience Falkirk: Living, working and visiting the Falkirk area
- Networked Falkirk: Exploiting Falkirk’s transport and digital connections to the world
BP Business Loan Fund
Since April 2000, the BP Business Loan Fund has helped small business start-ups and growth. The fund is administered on BP's behalf by Falkirk Enterprise Action Trust (FEAT).BP D'Arcy
BP D'Arcy is one of the largest corporate sponsored economic regeneration projects in the UK. BP D’Arcy – a wholly owned subsidiary of BP plc – was set up in May 1987 following the restructuring of the giant Llandarcy Oil refinery in Neath, South Wales.With the closure of the refinery, BP D’Arcy is playing a leading role in helping to re-develop the site, which is now home to some 80 businesses employing over 1,000 people.
Sirius
BP Saltend created Sirius in 1999 to provide continuing support to the local economy and communities around the city of Hull.Sirius is a community-based project for people disadvantaged through lack of clear business advice and guidance, and access to affordable finance. Today, the project remains focused on creating sustainable jobs in the area around the BP Saltend site, either in existing companies or through the creation of new micro-businesses. Sirius provides business loans, along with specialist guidance on business planning and management as well as advice on finance.
Sirius is a company limited by guarantee and funded by BP. In September 2000 the company was accorded Enterprise Agency status, which allows it to access European funding sources and is an efficient means of establishing the Business Loan Fund.
Since 1999, Sirius has helped to create over 800 new jobs in over 190 organisations using the loan fund, and we believe that around 700 further jobs have been created by people who have received free advice and support. In all, over £1.25m of loans has been issued, helping to generate a further estimated £5.4 million of business investment from other traditional sources, such as banks.
