Business & Enterprise Finance Ltd (BEF) & Group Companies
Reporting Period: 1 April 2026 – 31 March 2027

This statement sets out the steps taken by Business & Enterprise Finance Ltd (BEF) and its group companies during the financial year 1 April 2026 to 31 March 2027 to prevent modern slavery and human trafficking in our business and supply chains.

BEF is committed to continuous improvement. 

BEF is a Community Development Financial Institution (CDFI) providing accessible and flexible finance solutions to new and established organisations across sectors within the UK. We operate through several group companies supporting regional SMEs and social enterprises.

Supply Chain Overview

• BEF primarily procures professional services, IT systems and facilities management services from UK-based suppliers. Our supply chain is limited in extent.
• We commit to further mapping our Tier 1 suppliers where practicable and reasonable. 

BEF maintains a suite of internal and external policies designed to prevent modern slavery:

Internal Policies

• Whistleblowing Policy – Confidential channels for staff, customers, and stakeholders to raise modern slavery concerns without retaliation.
• HR Staff Handbook  – Sets expected ethical behaviours.
• Recruitment Policy – Ensures only reputable agencies are engaged and that right‑to‑work and identity checks meet regulatory standards.

Assessment Methodology We assess modern slavery risks by reviewing:

• Sector risks (e.g., cleaning, construction, IT hardware manufacturing)
• Geographic labour risk indices (even when suppliers are UK-based, deeper-tier risks may be international)
• Supplier onboarding data and compliance history
• Worker recruitment practices and subcontractor screening

Findings for 2026–27

• Internal Employment Risk: Low due to robust regulatory and right‑to‑work checks.
• Subcontractor Risk: Low, minimal use of Subcontractors
• Supply Chain Visibility Risk: Low, minimal supply chain, further mapping to be undertaken

2026 / 27 Improvement Actions

• Undertake structured supply chain mapping as is reasonable for our minimal external procurement.
• Integrate modern slavery risk scoring into any major procurement decisions.

Supplier Onboarding

• Modern slavery due diligence screening, including policy review, public adverse-media checks, and verification of labour practices where practicable given our minimal external supply chain
• Risk‑based enhanced due diligence for suppliers operating in sectors with elevated risk profiles.

Monitoring & Audits

• Assessment all Tier 1 suppliers.
• Follow‑up investigations where risk indicators are identified.

Remediation

If a modern slavery concern is identified, we:

1. Launch an investigation led by HR, Compliance, and the Chief Executive.
2. Require suppliers to implement a corrective action plan.
3. Suspend or terminate the relationship for non‑cooperation or serious violations.

Training Programme 

Mandatory modern slavery e‑learning for all staff during induction and awareness training annually.

Awareness materials (posters, internal newsletters) continue to reinforce vigilance across the organisation.

KPIs for FY 2026–27

• Supplier Modern Slavery Screening: 100% of new suppliers screened; Tier 1 suppliers to be re‑evaluated.
• Training Completion: 100% of staff;
• Risk Assessment Updates: To be reviewed annually and in line with overall risk potential.

In accordance with enhanced expectations for accountability, the following individuals oversee BEF’s anti‑slavery strategy:

• Chief Executive – Final accountability for governance and publication.
• Compliance Manager – Oversight of risk assessment, due diligence, and supplier monitoring.
• HR Manager – Responsible for training, internal investigations, and employment-related controls.

All incidents or concerns are investigated by this panel.

This statement was approved by the Board of Directors of Business & Enterprise Finance Ltd and will be published on our website with a homepage link titled Modern Slavery Statement.

Business & Enterprise Finance Ltd & group companies BEF BSC Ltd, Business & Enterprise Finance (NE) Ltd, BEF-NPIF GP Ltd, BEF BSC 2 Ltd, BEF NPIF 2 YH Ltd, BEF (NW) Ltd, BEF (NE) 2 Ltd, BEF (London) Ltd 

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