In an interview with Specialist Banking, Judith Hartley (pictured above), managing director of the UK Network, said it would target three different types of professionals: private sector, public sector and small business member organisations.

An example of the disparity in access to finance among small businesses is highlighted by the supply of equity funding across the country.

Some 52.1% of equity deals are for businesses in London, despite only 19.8% of high-growth firms being located in the capital.

In its first year, the network plans to help SMEs become more aware of finance options suited to their needs.

In addition, it plans to improve the bank’s understanding of markets around the country by getting opinions and views – from business and finance professionals – as to what’s working well in different regions.

As part of a longer-term plan, it will try to identify good practices and expertise, behaving like a matchmaker for businesses and lending.

The development bank has over 120 delivery partners, which include lenders and fund managers.

In total, 39 lenders currently use its enterprise guarantee programme, with its recent expansion focused around asset finance lenders as more are becoming accredited.

“Historically, much of the British Business Bank’s focus had been national and hadn’t taken too much of a regional focus,” said Judith.

“That changed when we introduced the Northern Powerhouse Investment Fund, followed by the Midlands Engine Investment Fund.

“That led us to look at adopting a more regional nuance.

“We recognise [that] if we’re going to adopt a regional approach, we need a deeper understanding of regional differences.”