Stephen Waud describes his 18-year old self as “a spectacular failure”.

A lack of studying saw him fluff his A-levels and being told in no uncertain terms to get a job by his father.

But the fickleness of youth gave way to a high achiever who is now a leading member of Bradford’s business community – he managed to study law part-time while working 50 hours a week in a high-pressure job and qualify as a barrister, as well as gaining an MBA.

Not bad for a lad born on a tough West Yorkshire council estate who believes he has grasped the opportunities presented to him.

Stephen, 45, has been director of the Business Enterprise Fund since its inception in 2004 and was also instrumental in its development and launch as a project consultant hired by Bradford Chamber of Commerce.

As it approaches its first decade, Stephen is proud of BEF’s record to date. It has supported more than 500 West and North Yorkshire businesses, providing about £8 million in funding. A second office opened in Leeds in February and plans include an office in York and expanding its geographical reach Stephen and I met at City Hub, the converted wool warehouse in Little Germany developed by BEF at a cost of £1.8m to create an ‘enterprise incubator’ with 19 offices and support services for up-and-coming businesses. Stephen sees it as a key achievement for the organisation.

The BEF board will meet in February to discuss future strategy, but the overall plan is to double BEF lending and activities over the next three years. The organisation – a subsidiary of Bradford Chamber of Commerce which allows it autonomy in its operations – now has 20 staff and Stephen expects it to recruit about two or three a year, from apprentices to experienced investment managers.

Apprenticeships are close to his heart. After the ultimatum from his dad, who himself went from being a typewriter salesman to owning a Bradford engineering company, Stephen started as an apprentice design engineer at a small Cleckheaton plastics firm.

It was a grounding which lasted six years, including night school and day release and enabled him to become a mechanical design and production engineer designing injection mould tools. After moving to Birkby’s Plastics Stephen worked on projects for leading motor manufacturers such as Ford, Porsche and Land Rover.

Stephen recalled: “I loved that job because you started by creating a drawing from which mould tools were made for plastic components for vehicles which you could see being made. It was always a thrill to get into a car and look at the dashboard or steering wheel knowing that I had designed them.”

A move to Plasmould Tools in Morley saw him rise within six years from technical sales assistant through sales manager, commercial director to managing director aged 29.

“Whilst I hate sales, apparently I have a knack for it. During my time we doubled turnover, winning huge accounts and trading all over the world,” he said.

He left the business following the failure of a planned management buyout after which the business became part of the giant United Industries.

A career change saw him move into brand marketing selling point-of-sale and below-the-line advertising, mainly for major drinks companies.

He said: “Because I’m an engineer I hated the poncey people I had to deal with. I came across numerous potheads and was also driving 50,000 miles a year which was no fun.”

Nevertheless, during his time the firm doubled turnover to £4.5m and the prospect of buying another business fell through after the owner stayed on.

Stephen then took on the task of reviving a Manchester brand marketing business as a phoenix company.

“That taught me that you should choose carefully who you work with. I also made the biggest tactical mistake of my career by not having the bottle to sack someone. A year after I left, the business went bust,” said Stephen.

Then came the project consultancy with Bradford Chamber of Commerce to look at launching the Business Enterprise Fund.

Stephen said: “I never envisaged that it would be more than a 12-month contract but after its launch BEF grew rapidly and is now the country’s largest Community Development Finance Institution.

“We are regularly consulted by government and other agencies and I spend a lot of time lobbying. We advised Goldman Sachs on its 10,000 Small Businesses project to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support.

“Basically, BEF is a lending operation but our mission is also to influence and help change the landscape of financial exclusion. Many of the businesses we are supporting are run by previously unemployed people. Our support has helped them to realise their ambitions, given them a renewed purpose and a living, along with hope for the future.”

Current work also includes working with the Opposition on a proposed Bill, reflecting US legislation, to force banks to be more open and transparent about their lending policies and tax their profits to support CDFIs.

Stephen believes that businesses should have a social conscience and cites Victorian philanthropists such as Sir Titus Salt as examples to follow. He said: “BEF is providing an alternative to financial exclusion but there are 20 million people, one third of the UK population, unable to access banks and end up at the mercy of unscrupulous lenders members.

“You can unlock people’s potential or cripple them through access to or lack of finance. Some CDFIs also provide loans to individuals and this is an area we are exploring at BEF,” Stephen explained.

Stephen, whose hobbies include playing several musical instruments – he used to play in a big band – can already blow his trumpet about BEF’s achievements. With big ambitions for its future, its contribution to the Bradford and wider Yorkshire enterprise scene has probably more high notes to reach.