The British Business Bank has announced that it intends to launch a network of regional managers following the recent unveiling of the government’s industrial strategy.
The new network is expected to roll out across the country by autumn 2018 and will ensure businesses have information on how to access sources of investment.
Last week, Philip Hammond announced the launch of a £2.5bn investment fund, which would be incubated in the British Business Bank.
The government has also committed to the creation of a commercial investment programme run by the British Business Bank to support business angels outside of London.
Keith Morgan, CEO of British Business Bank, said: “In the regions, we are already responsible for funds supporting £650m of finance for the Northern Powerhouse and Midlands Engine areas, and will shortly be launching a similar fund for Cornwall and Isles of Scilly.
“Making sure that finance reaches smaller businesses across all regions of the UK is important to delivering widespread growth.
“By putting in place a new network of regional managers, we will further address regional disparities in awareness of – and access to – funding choices for businesses across all regions of the UK.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Masthaven teams up with Intrinsic Financial Services
Masthaven has announced a new partnership with Intrinsic Financial Services as the bank looks to enable more brokers to access its range of residential mortgages.
Cambridge & Counties refinances Oxfordshire nursery
Cambridge & Counties has refinanced an Oxfordshire nursery, which is creating 50% more places for local children.
How important are brokers in the specialist banking market?
Brokers are an important channel for newly launched banks, a number of industry professionals have claimed.
BFC Bank enters UK market
BFC Bank has launched into the UK banking market offering financial services to UK SMEs.
Liam Fox launches GREAT Innovation in Action Awards
International trade secretary Liam Fox has launched the GREAT Innovation in Action Awards to find the best partnerships between UK and Asia-Pacific companies.
Teachers Building Society names new board of directors chair
Teachers Building Society has named Julie Nicholson as the new chair of its board of directors.
Church of England introduces contactless payments
The Church of England has introduced contactless, virtual terminal and SMS mobile payments to over 16,000 churches, cathedrals and religious sites across England.
FIBA workshops to feature live deal room
The Financial Intermediary & Broker Association (FIBA) has announced that its upcoming regional workshops will give brokers the chance to interact with partner lenders in a live deal room.
Metro Bank to enter Scottish mortgage market
Metro Bank has announced that from 5th April it will be expanding its mortgage business into Scotland.
Do challenger banks need to collaborate on Open Banking?
Collaboration between challenger banks on Open Banking could be a powerful message to consumers and the established players, according to an expert at a recent event.