British Business Bank

📣 Out today, our #NationsAndRegions24 Tracker shows use of external finance up to 46% in 2023 across the UK, but smaller businesses show cautious optimism. 🔎 Key findings: 🏴󠁧󠁢󠁷󠁬󠁳󠁿 Wales is the top nation for external finance use, with 53% of Welsh smaller businesses reporting using finance in 2023 💳 Credit cards were the most used type of finance in 2023 📈 While number of UK equity deals dipped in 2023, Q1 2024 shows a positive outlook with a 7% increase in equity funding for small businesses year- on- year. Download our full report for a deep dive into the state of small business finance across the UK Nations and regions 👉 https://lnkd.in/dFFK6JJU

Our Regional Angels Programme facilitated £441m in investments in 2023/24 to boost regional equity markets 👼 Read our #NationsAndRegions24 Tracker to find out more about our impact 👉 https://bit.ly/4dOAXJc

📣 Announced in the Autumn Budget The government confirmed over £1bn of funding for the Bank across 2024-25 and 2025-26 to continue our programmes supporting access to finance for smaller businesses 🚀 This shows further confidence in the Bank and will help continue to support smaller businesses through our existing programmes and maximise women’s contribution to the economy 💪 ✔️ The Chancellor announced additional support for smaller businesses in the form of housing guarantee schemes, including an increase in the guarantee for our ENABLE Build programme to support further finance for smaller house builders  🏠 👷 ✔️ The government will provide funding for our Start Up Loans Company programme to continue to provide loans to new businesses, focusing on under-represented groups who face challenges in securing finance 🚀 ✔️ To support the aims of the Invest in Women Taskforce, the Bank will expand access to funding access for female entrepreneurs and will invest £50m into female-led funds via its existing programmes ✔️ Our £425m Future Fund: Breakthrough programme is being extended to invest in innovative, high-growth firms. #FFBreakthrough 🔬 ✔️ The £200m Life Sciences Investment Programme is being extended to address growth equity finance gaps for UK life sciences companies 🧪 ✔️Our £285m Regional Angels Programme is being extended to further reduce regional imbalances in access to early-stage equity finance for smaller businesses in the UK 😇 Read our full response here 👉 https://lnkd.in/d_QBe5vj

Our geographically based funds have provided significant support to smaller businesses across the UK. In 2023/24, they backed 320 smaller businesses with £388m of funding 💪 Read our #NationsAndRegions24 Tracker to find out more 👉 https://bit.ly/4dOAXJc

Our #NationsAndRegions24 Tracker shows increased reliance on credit cards 💳 Of all available finance options 17% of smaller businesses used credit cards, followed by overdrafts at 13% and leasing/vehicle finance at 12%. Download the report here👉 https://bit.ly/4e37tqX

In 2023, equity deal activity declined across all UK Nations and regions relative to 2022, with London experiencing a significant drop in both the number and value of deals of 28% and 48%, respectively ⬇️ But there's a positive outlook for the year ahead. In Q1 2024, equity funding for smaller businesses increased by 7% compared to the same period in 2023 💪 Download the report here: https://lnkd.in/dFFK6JJU

When running a business you need to keep an eye on how much money your business is making so that you can fix any problems 👀 A balance sheet provides a snapshot of a business’ assets, liabilities, and shareholders’ equity at a specific point in time 🔍 Want to find out more about the essentials of running a business? Download our new guide: https://lnkd.in/dFFK6JJU

📈 While number of UK equity deals dipped in 2023, Q1 2024 shows a positive outlook with a 7% increase in equity funding for small businesses year- on- year. Read our #NationsAndRegions24 Tracker for a deep dive into the state of small business finance across the UK Nations and regions 👇

From a neurodiverse-friendly dog store to an activewear brand making clothing from recycled plastic to a post-mastectomy lingerie brand, our Start Up Loans Company Ambassadors are a charismatic and creative bunch 💪 These exceptional small business owners will share their experiences of growing a business with #StartUpLoans to offer guidance and inspiration to other aspiring business owners. Find out more about them here: https://bit.ly/3B09B4Z

The Growth Guarantee Scheme is designed to support access to finance for UK smaller businesses looking to invest and grow. Find out more here: https://bit.ly/4cutcs9