The British Business Bank has received an update on its mission. According to the bank, during the Regional Investment Summit, the Secretary of State for Business and Trade, issued a new Statement of Strategic Priorities. This statement emphasizes the need for the Bank to support smaller firms gain access to capital so they can start and scale and remain in the UK.
The mission is described as improving the availability of financing for smaller firms to “match the scale of the Government’s growth ambitions.”
UK’s first half of 2025 growth outpaces the EU which stands at 0.2% in Q2 but lags behind the US a 2.8% annualized.
UK GDP is estimated to have grown by 0.3% in Q2 2025.
Louis Taylor, CEO of the British Business Bank, said they welcome the new mandate:
“…we will mobilise institutional capital at scale by unlocking billions of pounds of domestic investment so the UK can capture the full commercial potential of its world class breakthrough technology companies.”
The Bank stated that it will publish its Five-year Strategic Plan in the coming weeks.