British Business Bank
(asked on 4th September 2015) - View Source
Question
To ask the Secretary of State for Business, Innovation and Skills, what proportion of investments made through the British Business Bank to date have been made in each region and nation of the UK.
The British Business Bank manages the Government’s business finance programmes (loans and equity investments) for smaller businesses within a single commercially-minded institution. It is not a bank in a conventional sense: it does not invest directly in businesses; instead, it provides funds and guarantees to private sector partners, allowing them to finance smaller businesses. The table below outlines the breakdown of finance facilitated by region and nation.
British Business Bank (BBB) Finance Facilitated by Region/Nation[1]
Region | Finance facilitated by BBB schemes (excluding Start Up Loans Co) as at 30 June 2015 (in £m) | Finance facilitated by Start Up Loans programme as at 30 June 2015 (in £m) | UK private sector businesses by region by %[2] |
East Midlands | 241.8 | 8.6 | 6% |
East of England | 193.6 | 9.6 | 10% |
London | 1689.9 | 46.7 | 18% |
North East | 269.8 | 7.3 | 3% |
North West | 557.7 | 21 | 10% |
South East | 978.9 | 14.4 | 16% |
South West | 271.2 | 12.5 | 10% |
West Midlands | 413.4 | 13 | 8% |
Yorkshire & Humber | 499.6 | 12.7 | 7% |
Scotland | 250.7 | 5.7 | 6% |
Wales | 95.2 | 6.3 | 4% |
Northern Ireland | 21 | 1.8 | 2% |
Unspecified | 41.3 | 0.6 | 0% |
Total | 5523.9 | 160.2 | 100% |
[1] Start-up Loans data is presented separately due to differences in reporting methodologies. British Business Bank data is stock of finance facilitated and Start Up Loans data is cumulative all-time total drawn lending
[2] Proportions for all UK Private sector businesses from the 2014 BIS Business Population estimates