Why it is important: When we make markets work better and help smaller business get finance that they otherwise wouldn’t get, we enable investment in hiring people, buying equipment, and general growth that benefits the entire UK economy.
Under its first Key Performance Indicator (KPI), the British Business Bank is measured on the total stock of finance provided through its programmes. This is a combination of funds that we have directly deployed as well as private funds which our participation has helped to unlock.
In order to increase supply we have built up a wide range of delivery partners who can get that finance to the market. Over the past year we have made new commitments of £717m.
The Bank’s total stock of finance grew 24% from £7.5bn to £9.2bn from end of March 2016 to end of March 2017.
This was driven primarily by the performance of the Investment Programme, Business Finance Partnership and Enterprise Capital Fund. In particular, the Business Finance Partnership portfolio generated significant volume of private sector investment.