Since it was established in 2014, the British Business Bank has delivered more than £32bn in combined public and private sector funding, supporting 209,000 smaller businesses which are expected to create 250,000 additional jobs and sustain almost 2.3 million existing positions, cementing its role as a critical driver of growth and employment in the UK since its inception.

Published today by the British Business Bank, The Power of 10: 10 Year Impact Report, reveals smaller businesses supported by the Bank are projected to generate £97bn in additional turnover and around £43bn additional economic output over the lifetime of their finance.

The Bank's activities including commercial and subsidised programmes - have also achieved a net 4.2% annual adjusted rate of return -demonstrating that economic impact and financial returns can be delivered simultaneously.

Advancing UK innovation through equity investment

As the UK’s largest domestic investor in UK venture and venture growth capital, the Bank supported 11% of all UK equity deals and supported deals accounting for 15% of total equity investment over the past decade. Equity finance activity has grown significantly, with £8bn deployed in the last three years alone.

This investment has catalysed growth in high-potential sectors such as life sciences, clean tech, and advanced software, driving innovation across the UK economy. Among these high-growth businesses backed by the Bank, 150,000 new jobs and £29bn in Gross Value Added ( GVA ) are expected to result from rapid expansion.

Additionally, the launch of British Patient Capital in 2018 and subsequent programmes, including the Life Sciences Investment Programme and Future Fund: Breakthrough have accelerated equity flows to transformative sectors.

Leveraging private sector investment

Over the past decade, the Bank has leveraged more than £4 of private sector investment and lending guaranteed for every £1 of public funding deployed, demonstrating its ability to act as a catalyst for private funding.

Its network of over 200 delivery partners, which includes banks, fintech providers, and venture capital funds, has been instrumental in addressing structural market gaps and enabling innovation across the UK.

At the International Investment Summit, it was confirmed that the British Business Bank will establish the British Growth Partnership, subject to regulatory approval, encouraging more UK pension fund and other institutional investment into the UK’s fastest growing, most innovative companies. The initial fund will seek to raise hundreds of millions of pounds, including a commitment from the British Business Bank, to invest in some of the highest potential opportunities in the Bank’s venture capital pipeline.

Ensuring access to finance reaches all UK Nations and regions

The British Business Bank has successfully supported businesses across the UK, with 84% of businesses supported based outside London, underscoring its commitment to delivering fair access to finance in all Nations and regions.

This support is expected to generate significant economic benefits, estimated as at least £1bn in GVA to each of the 12 UK Nations and regions and sustaining more than two million jobs, with an additional 250,000 jobs expected to be created as a result.

By strengthening regional finance ecosystems, the Bank has fostered growth and innovation in underserved areas, helping to address long-standing disparities in access to finance.

Programmes such as the Regional Angels Programme and £1.6bn Nations and Regions Investment Funds have driven investment in regional innovation clusters, helping to retain high-growth businesses in these areas.

Supporting a modern, green economy through sustainable finance

The Bank has played a pivotal role in supporting the transition to net zero and the UK’s position as a leader in sustainable growth. Up to 37% of smaller businesses supported have utilised finance to reduce their environmental impact or develop green business models.

A significant focus on net-zero sectors, including clean tech, highlights the Bank’s commitment to fostering environmentally sustainable practices and supporting the UK’s transition to a greener economy.

Business Secretary Jonathan Reynolds said: “Over the past decade, the British Business Bank has empowered smaller businesses to thrive, creating opportunities and driving growth across the UK.

“They’ve supported more than 2 million jobs, created £97 billion in additional turnover, and delivered £32 billion in funding - its impact is clear. As part of our Plan for Change, this Government remains committed to building a high-growth economy, and the Bank’s success shows how public investment and private ambition can deliver lasting value for the nation.

“The work of the British Business Bank is essential in our mission to grow the economy and improving living standards by supporting small businesses to flourish.”

Louis Taylor, CEO, British Business Bank, added: “The Power of 10: 10 Year Impact Report highlights the transformative role the British Business bank has played in driving economic growth and shaping the financial landscape for smaller businesses across the UK.

“From improving access to finance across the UK’s Nations and regions to backing innovation and championing sustainable growth, we are proud of the impact we’ve achieved over the past decade. Looking ahead, we remain committed to supporting smaller businesses, unlocking private sector investment, and helping the UK meet its economic goals.

“The catalytic impact of the British Business Bank and impressive track record crowding in private funding will become even more crucial as we establish the British Growth Partnership, subject to regulatory approval, unlocking the huge potential of UK pension funds and other institutional investors in venture capital funds and the UK’s innovative businesses.”

Breaking down barriers in access to finance for under-represented groups

Through its Start Up Loans programme, the Bank has ensured that traditionally under-represented groups gain greater access to finance. To date, 40% of these loans have been awarded to female founders, while 20% have supported entrepreneurs from Black, Asian, or Other Ethnic Minority backgrounds. This focus on inclusivity reflects the Bank’s commitment to unlocking potential and diversifying access to finance and creating opportunities for underserved groups. Looking to the future, the Bank is expanding access to funding for female entrepreneurs and will invest £50m into female-led funds through its existing programmes. This investment will support the aims of the Invest in Women Taskforce, which is an industry led, government backed initiative committed to increasing finance for female entrepreneurs. 

In addition, a set of reforms to the British Business Bank’s financial framework will put the Bank’s £7.9bn commercial programmes on a permanent footing. This means the Bank can flexibly re-invest its investment returns over the long term to increase growth and prosperity across the UK.