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£2.5bn British Patient Capital programme launched by British Business Bank to grow small and mighty start-ups

 

Posted on 29 June 2018

The launch of the £2.5bn British Patient Capital programme (which will operate as a subsidiary of business development bank British Business Bank backed by the British government) aims to provide long-term finance to the next generation of UK start-ups, and will invest alongside private firms as part of a long-term plan first announced by chancellor Philip Hammond in October.

The main aim of the scheme is to provide high growth potential enterprises with invaluable growth capital to excel their development, transforming them into large, potentially multinational businesses.

The programme provides enterprises with the financial security and longevity that they really need to achieve the scalability that they’re capable of.

Start-up businesses accounted for over 10% the 5.7 million private sector businesses in the UK in 2017 – last year, almost 600,000 start-ups were launched - and locally there’s an abundance of start-ups in a range of sectors, creating a thriving marketplace.

The Midlands is home to some of the most innovative small businesses, as well as large, internationally recognised firms that all started out as small innovative start-ups such as 2 Sisters Food Group, JCB and Bowmer and Kirkland, which is real testament to the opportunities available with the right resources. The provision of the British Patient Capital will help small businesses really drive our economy forward.

If you would like to speak to one of our Corporate Finance experts regarding the availability of growth funds, or have any other topical queries, please get in touch.

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