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<\/p>\n\nBBB \u2018driving growth and prosperity\u2019 in region via support to 600 smaller businesses\n<\/p>\n
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The Government-owned British Business Bank is investing \u00a36.6 billion (Dominic Lipinski\/PA)<\/p>\n
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British Business Bank director Susan Nightingale<\/p>\n
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The Government\u2019s investment bank has announced that it has supported 600 smaller businesses in Northern Ireland in 2024\/25 and it expects to have boosted economic output here by \u00a3100m.<\/p>\n
The British Business Bank\u2019s annual impact report for 2024\/25 is estimating that its activities in Northern Ireland will create 1,100 new jobs.<\/p>\n
NI firms which have recently been supported by the Business Bank include the Pilates company Reform RX and the Lisburn-based lab equipment company Cirdan.<\/p>\n
The company\u2019s research has indicated that the support in Northern Ireland will add \u00a3300m of additional turnover to businesses, which it equates to \u00a3100m over the course of the finance\u2019s lifetime.<\/p>\n
Susan Nightingale, the UK network director for the devolved nations at the British Business Bank, said: \u201cThe bank has a 10-year track record of delivering impact in Northern Ireland, therefore it is very pleasing to see that our support to 600 smaller businesses in 2024\/25 is expected to create 1,100 local jobs.<\/p>\n
\u201cWe recognise it can be challenging for some firms to secure the support they need to start up and scale up, therefore through improving access to finance for smaller businesses we drive growth and prosperity in Northern Ireland and across the UK.\u201d<\/p>\n
Businesses receive funding from the bank in a variety of ways, including direct investment of public cash, the provision of loan guarantees, and help in securing private funding.<\/p>\n
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The Government-owned British Business Bank is investing \u00a36.6 billion (Dominic Lipinski\/PA)<\/p>\n
Watch: Flash Flooding hits parts of Northern Ireland <\/p>\n
Across the UK, the bank supported around \u00a36.8 of investment into smaller businesses.<\/p>\n
This broke down as \u00a31.2bn of public funding from the bank, \u00a32.6bn of guarantees for lending and \u00a33bn worth of private capital.<\/p>\n
In the UK Government\u2019s recent spending review, the bank\u2019s financial capacity was increased to \u00a325.6bn, enabling it to \u201cincrease annual investments to around \u00a32.5bn per year\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"BBB \u2018driving growth and prosperity\u2019 in region via support to 600 smaller businesses The Government-owned British Business Bank…\n","protected":false},"author":2,"featured_media":281811,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5011],"tags":[1144,16,15],"class_list":{"0":"post-281810","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-northern-ireland","8":"tag-northern-ireland","9":"tag-uk","10":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114895489963730778","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/281810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=281810"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/281810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/281811"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=281810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=281810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=281810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}