Food Development Company
In 2009, the Food Development Company Ltd (FDC) was registered in the UK with the aim of promoting socially responsible investment. The objectives are to be commercially viable, ethical and sustainable - we call it impact investment
We have put into practice what a small group of international development specialists have been writing about for decades n sustainable enterprise development i.e. we are neither a project nor a charity and instead promote transparency and accountability. Twenty three private investors have so far funded FDC in a mixture of loans and investment (debt and equity). FDC qualifies for the Enterprise Investment Scheme (EIS) allowing UK investors 30% tax relief. After two years no inheritance tax is paid on these investments (with some exceptions) and they will be free of Capital Gains Tax after three years.
TheTransylvania Food Company Srl (TFC) was registered in Romania in 2010. It is wholly owned by FDC and is a social enterprise. Our production is located in modern premises in Saschiz (a UNESCO World Heritage Site), where traditional skills are combined with quality control measures and modern production techniques that ensure a consistent product which fully meets the required standards of food safety and healthy eating. Careful design has ensured that our production facility blends with the architectural landscape on the outside while the use of modern materials provides thermal efficiency and a flexible food processing facility inside.
We buy our raw materials from the community and we employ local people to produce our jams, chutney and cordials. From the outset we have chosen indicators which can be verified from our financial accounts: number of permanent employees, number of seasonal employees and the quantity and value of raw materials purchased (berries flowers, fruits and vegetables).
Alternatively a clearer pdf version of this graphic is available. If salaries are taken into account then our social impact is considerable greater.
Other direct beneficiaries:
Policy, Principles and Rules
For further information visit www.pivnitabunicii.ro