Objective

Be the centre of expertise on
smaller business finance in the UK,
providing advice and support
to the Government

Being the centre of expertise on smaller business finance gives us the knowledge and credibility to achieve our other objectives, and to help the Government deliver key policy priorities.

Objective

Be the centre of expertise on
smaller business finance in the UK,
providing advice and support
to the Government

Being the centre of expertise on smaller business finance gives us the knowledge and credibility to achieve our other objectives, and to help the Government deliver key policy priorities.

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

case study

Ronimix Concrete

Programme: ENABLE Funding

Ronimix Concrete Ltd is an Essex-based, batch on-site concrete, screed and concrete pump hire operator, running a modern fleet of six lorries and three in-line concrete pumps.

In 2018, Ronimix decided to purchase three new concrete mixer lorries, and received just over £200,000 of asset-based finance from Simply, supported by British Business Bank’s ENABLE Funding programme.

case study

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.

Case study

Evezy

Programme: Enterprise Capital Fund

Birmingham based Evezy is an all-inclusive electric car subscription service, aiming to accelerate electric vehicle adoption by providing a flexible, transparent and hassle-free subscription.

After some initial investment, it needed further funding in order to expand to new locations, invest in technology and grow market share. Evezy secured £2.1 million in funding from Enterprise Capital Fund partner Accelerated Digital Ventures in December 2018.

Securing this funding meant Evezy could increase its fleet by over 200%, increase vehicle collection points from two to ten and increase its vehicle models from two to six. It also allowed the business to open a new office in Leamington Spa, and hire 18 new employees.

Case study

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.

Case study

FW Properties

Maps Norwich

Programme: ENABLE Guarantee

Based in Norwich, small housebuilder FW Properties specialises in developing distinctive contemporary properties across Norfolk and Suffolk.

Since Ian Fox and Julian Wells founded FW Properties in 2011, they have successfully completed six developments of 80 residential apartments and houses and have a further three projects underway.

To fund development works for its projects, FW Properties received finance from Hampshire Trust Bank, supported by the Bank’s ENABLE Guarantee programme. Hampshire’s funding structures minimise the amount of equity that needs to be held by the developer and the finance provider, allowing a greater pipeline of housing.

Case study

At a glance

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