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.”
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