The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive sustainable growth and prosperity across the UK and to enable the transition to a net zero economy, by improving access to finance for smaller businesses. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government. The British Business Bank’s core programmes support over £12.4bn of finance to more than 90,000 smaller businesses.

 

Launched in November 2023 by the British Business Bank, the Investment Fund for Northern Ireland is increasing the supply and diversity of early-stage finance for Northern Ireland smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance. Operating in a commercially sustainable way the Investment Fund for Northern Ireland will deliver a £70m commitment of new funding through investment strategies that best meet the needs of the businesses across Northern Ireland.

 

The British Business Bank has also invested £45m into Whiterock’s £75m Growth Capital Fund in Northern Ireland, and £15m into the Foresight Northern Ireland Fund.

 

As well as increasing the supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness and understanding of finance options available to smaller businesses. Annual research publications include Small Business Finance Markets Report, Small Business Equity Tracker, Northern Ireland SME Access to Finance Report and Nations and Regions Tracker. The British Business Bank Finance Hub provides independent and impartial information to businesses about finance options, featuring short films, expert guides, checklists and articles from finance providers to help make their application a success.