"In a busy and productive 2024/25, the British Business Bank amplified its role, delivering significant impact in driving economic growth and innovation across the UK."
"Our activities in 2024/25 are expected to produce an impact of 38,000 additional jobs and £8.0bn of gross value added over the life of the finance."
"Across the UK in 2024/25, the Bank supported a total of £6.8bn of finance for smaller businesses, enabling support for 24,000 businesses newly receiving funding."
"London continues to be a hub for the UK's business activity, and we are committed to ensuring the city's businesses have access to the finance they need."
The British Business Bank's second annual Impact Report shows it supported 3,900 previously unfunded businesses in London, accounting for 16% of its total support. In 2024/25, the Bank provided £6.8bn in finance, enabling support for 24,000 businesses nationwide. The CEO, Louis Taylor, noted the expected creation of 38,000 jobs and £8.0bn in gross value added. London remains vital for early-stage investment, housing a significant portion of UK angel investors and their deals, emphasizing the importance of financial access for businesses to foster economic growth.
Read at London Business News | Londonlovesbusiness.com
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