British Business Bank marks a decade of transformative impact on the economy and smaller businesses across the UK

• British Business Bank publishes The Power of 10: 10 Year Impact Report, highlighting its impact on the UK economy ^{Read footnote text 1}
• £97bn in additional turnover expected to be generated by businesses backed by the Bank
• UK economic output boosted by around £43bn through business growth over the lifetime of their finance
• £32bn in combined public and private sector funding delivered
• Almost 3m existing roles sustained and 250,000 additional jobs expected to be created through Bank-supported finance programmes
• 209,000 smaller businesses supported
• 84% of businesses supported are located outside London
• 2% annual 10-year combined commercial, mandated and service arm adjusted rate of return

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:

• ^{Return to footnote location 1}

  Excludes Covid schemes