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Since it was established in 2014, the British Business Bank has supported over 18,000 smaller businesses across Yorkshire and the Humber, representing nearly 9% of total businesses supported through the Bank.
The British Business Bank’s report, ‘The Power of 10: 10 Year Impact Report’, reveals Yorkshire and the Humber-based smaller businesses supported by the Bank are projected to generate an additional £6bn in turnover. Through this growth, the Bank estimates that these businesses will boost UK economic output by an estimated £3bn over the lifetime of their finance.
Having supported Yorkshire and the Humber businesses and facilitated economy-wide growth, the finance provided is expected to create over 16,000 jobs among businesses in the region, along with sustaining an additional 186,000 existing positions.
In 2024 the Bank launched £660M Northern Powerhouse Investment Fund II which offers a range of commercial finance options with smaller loans and debt finance from £25,000 to £2M and equity investments up to £5M.
Please may we have a link in the text to the report? Link is embedded in the text above and is also below:
