Statement of strategic priorities to the British Business Bank
Statement by the Secretary of State for Business and Trade and Chancellor setting the British Business Bank's strategic direction and priorities for 5 years.
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The statement of strategic priorities sets the strategic mandate for the British Business Bank, reflecting the government’s Modern Industrial Strategy and Backing Your Business, the plan for small and medium-sized businesses.
The bank has delivered an additional 250,000 jobs and £43 billion in gross value added since its inception in 2014 and this strategic mandate will enable it to go further and faster, with a two-thirds increase in the pace of investment to approximately £2.5 billion each year.
The 5-year strategic mandate gives the bank a new mission from April 2026 to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK.
The mandate sets the bank 4 clear priorities, to:
- support our most promising businesses in the Industrial Strategy priority sectors to scale and stay here
- make finance markets work better for smaller businesses
- unlock the potential in people and places
- mobilise institutional capital at scale
The British Business Bank’s economic capital limit has been increased by £10.3 billion to £25.6 billion, of which £8 billion is represented by guarantees and the balance by loans and equity investments.