British Business Bank

🔢 Out today, our Annual Report and Accounts shows that we supported £6.8bn of finance for 28,000 smaller businesses in 2024/25 and we returned a statutory profit before tax of £144m 💪

Just announced: The Government has allocated more than £4.5bn to the Bank as part of the ‘Backing your Business’ small business plan. Four existing Bank initiatives are being extended or expanded to provide further support for smaller businesses, including the Growth Guarantee Scheme, our Start Up Loans programme, ENABLE Guarantees programme, and Regional Angels Programme. This funding provides greater certainty and more capacity to help support established and new businesses in accessing the finance they need to grow and thrive. Read more below 👇 Department for Business and Trade Jonathan Reynolds MP Start Up Loans Company

Business Finance Week is back this September! With a host of free nationwide and regional in-person events, webinars and more, Business Finance Week helps smaller businesses learn about the different finance options that may be available to them to support their individual needs. 📆 30 Sep – 9 Oct | Find out more 👉 https://bit.ly/3Mpfhbh #BusinessFinanceWeek25

We supported £6.8bn of finance for 28,000 smaller businesses in 2024/25 🙌 84% of the businesses we supported were outside of London. Read our Annual Report to find out more 👇

🚀 Accelerating the ambitions of UK smaller businesses Our Growth Guarantee Scheme has reached £2.5bn in total lending, enabling smaller businesses across the UK to invest, expand and thrive. 📍 69% of this lending has reached businesses outside London and the South East 📍 £270m+ has supported businesses in the North West alone 📍 Over £633m has been provided to companies under five years old Chancellor of the Exchequer Rt Hon Rachel Reeves said: "The Growth Guarantee Scheme has made a huge impact on our regional economies, helping smaller businesses across the UK to invest and grow, creating jobs and putting more money in people’s pockets." Launched in July 2024, Growth Guarantee Scheme can be accessed via accredited lenders and provides crucial financing through term loans, overdrafts, asset and invoice finance, supporting up to £2m per facility. 👉 Click through for the key highlights of this milestone. 

In a busy and productive 2024/25, the British Business Bank amplified its role, delivering significant impact in driving economic growth and innovation and playing its part in the economic transformation of the UK’s Nations and regions, says our Louis Taylor CBE.

🚀 Unlocking potential across the UK    Out today, our Impact Report shows our 2024/25 activity is expected to create 38,000 additional jobs and £18.0bn of additional business turnover, equivalent to £8.0bn expected increase in UK economic output.    84% of the businesses we supported were outside of London, and our activity in 2024/25 is expected to provide a more than £100m boost to economic output in each and every UK Nation and region.  

We were delighted to welcome Gareth Thomas MP, Minister for Services, Small Business and Exports, South Yorkshire Mayor Oliver Coppard and Sheffield Central MP Abtisam Mohamed to our Sheffield office today. Our guests enjoyed a tour of the office, before taking part in a Q&A session with our Sheffield colleagues. It was a great opportunity to hear from the Minister, Mayor and MP, alongside our Chair Stephen Welton CBE. Department for Business and Trade

🎙️ Our Chair Stephen Welton CBE sat down with Robert Peston and Steph McGovern for the latest episode of The Rest Is Money podcast. He discussed the role of the British Business Bank in the Government's modern Industrial Strategy, scaling UK companies and rebranding pensions. Listen via the links in the comments 👇

📆 We've had an incredible response to our Office Hours initiative for potential or emerging female investors. Sessions for our Enterprise Capital Funds programme are now full. Any new submissions will be added to a waiting list for future sessions, anticipated to take place in the autumn. We still have spaces remaining for our Patient Capital Funds and Regional Angels Programmes. During these virtual 1:1 sessions, you’ll have the opportunity to speak directly with members of our Investment business, ask questions, and gain clarity on the application process. Find out more and register: https://bit.ly/3Tg7YGr