We use insights gained from our extensive research and analysis programme to produce publications about UK smaller business finance markets, take part in policy debates, and to provide input into cross-governmental projects.

The Bank’s closeness to smaller business finance markets makes it uniquely placed to advise Government on their workings. Many of our employees also have significant expertise and experience of working in industries and institutions that finance smaller businesses.

This allows us to work alongside key Government, industry, academia, thinktank and media stakeholders to shape and inform access to finance debates.

• Our activities are grouped into four linked areas of focus:
• Research and publications
• Opinion engagement
• Policy engagement
• Project and product delivery

Research and publications

In 2018/19 we published five major reports, with positive national, regional and specialist press coverage, and social media driving significant online views.

Our UK VC and Female Founders report, published in partnership with Diversity VC and the BVCA, gained a particularly high profile. It featured in well over 200 media articles delivering 100% share of voice for the Bank’s spokespeople and 97% delivery of our key message. It was referred to on social media by Philip Hammond, Liz Truss, HM Treasury, BEIS, Beauhurst, and a range of well-known private sector fund managers.

Opinion engagement

Our people engaged personally with key policy makers in the Government, and opinion formers in thinktanks, industry and academia through a series of meetings and events. This enabled us to bring together important groups, exchange views, lead debate and raise awareness of the Bank’s position.

Where appropriate, we collaborated with other thought leaders in smaller business finance and other related policy areas to achieve this.

The Bank’s activities were discussed more than 170 times in Parliament, with key themes including Start Up Loans, European funding of UK smaller businesses, digital and technology, and the rural economy. The Bank was invited as a speaker for 32 events and hosted 17 events over the course of the year.

Policy engagement

We contributed to and supported a host of Government policy initiatives in 2018/19, including:

• Industrial Strategy – we fed into the sector deals, and contributed to the Industrial Strategy Grand Challenges
• EU exit strategy – we advised on conditional European Investment Fund replacement (including venture and debt) and contingency planning with HM Treasury and the Department for Business, Energy and Industrial Strategy
• Regional development – we informed Whitehall discussions on the existing use of European Regional Development Funds and continue to influence thinking on future arrangements
• Credit risk – we established, hosted and chaired a forum for credit risk management in the Government.

Project and product delivery

We also continued to develop new products across Government and explored new ways of financing for smaller businesses, including:

• ENABLE Build – we introduced a new programme providing up to £1bn of guaranteed support for lending to smaller housebuilders, working with Homes England and the Ministry for Housing, Communities and Local Government
• The National Security Strategic Investment Fund – we worked across several Government departments to launch an £85m fund to support long-term equity – ‘patient capital’ – investment in advanced technologies which contribute to the UK Government’s national security mission
• Defined Contribution Pension Investment in Patient Capital study – we chaired an ongoing feasibility study to explore options for facilitating pooled investment in patient capital by large defined contribution pension schemes.