British Business Bank

WHAT THEY DO Their aim is to make finance markets work better for small businesses in the UK at all stages of their development: starting up, scaling up and staying ahead. THEIR OBJECTIVES They will increase the supply of finance available to smaller businesses where markets don’t work well. They will help to create a more diverse finance market for smaller businesses, with a greater choice of options and providers. They will encourage and enable SMEs to seek the finance best suited to their needs. They will achieve this whilst managing taxpayer resources efficiently and within a robust risk management framework. They will be the centre of expertise on smaller business finance in the UK, providing advice and support to Government. They will identify and help to reduce imbalances in access to finance for smaller businesses across the UK. The British Business Bank is 100% Government owned, but independently managed. It brings expertise and Government money to the smaller business finance markets. They don’t lend or invest directly. Instead they work with over 100 partners such as banks, leasing companies, venture capital funds and web-based platforms. Businesses apply for finance through their partners who, because they work with us, can lend and invest more, especially to younger and faster growing companies. In total they work through more than 100 finance partners in the market, and they will unlock up to £10 billion of new finance and bring greater choice and information on finance options to smaller businesses. Their work and corporate culture is driven and supported by their organisation’s values: Enabling – their overarching ethos Connecting Innovative Openness Talent Commercially Responsible. Their programmes are designed to bring benefits to smaller businesses that are start-ups, high growth, or simply viable but underfunded. They have two commercial subsidiaries, British Business Investments Ltd and British Patient Capital Ltd, which make commercial investments into providers of finance to smaller business in the UK. They are creating the opportunity for smaller businesses to invest and grow, creating additional jobs and economic activity.