Power of 10: 10 Year Impact Report (British Business Bank)

Summary

• The programmes covered supported around 209,000 businesses over the first ten years.p.15
• The £6.3bn of public funding deployed was accompanied by private capital and lending guaranteed of £26.2bn, a ratio of more than £4 for every £1.p.16
• As of the end of 2023/24, the Bank's 10-year combined adjusted rate of return averaged 4.2% per year.p.16
• Supported businesses are expected to earn around £97bn of additional turnover, equivalent to £43bn of GVA.p.18
• The Bank's support is expected to create around 250,000 additional jobs and sustain almost 2.3m more.p.17
• 84% of supported businesses are based outside of London.p.20
• Around 8,000 high growth businesses (around 4% of the total) are expected to generate 150,000 additional jobs and £29bn in additional GVA.p.23

Key insights

1. The number of delivery partners grew from around 80 in 2014/15 to more than 200.p.13
2. Total finance flow over the period is £32bn, split about 34% debt, 36% equity and 30% guarantees.p.12
3. In 2023/24 the total flow into UK businesses reached £7.5bn, a 9.2 multiple on the flow in the first year.p.12
4. On average around 21,000 businesses newly received support each year, around 1 in every 260 UK businesses.p.16
5. Equity programmes account for around 45% of additional jobs created despite supporting around 1% of businesses.p.18
6. Equity programmes account for 48% of estimated additional GVA from just 1% of the businesses backed.p.19
7. Up to 37% of supported businesses are expected to have used part of their finance for environmental objectives.p.24
8. Banking activities account for around £12bn of the estimated £43bn GVA impact, with investment activities accounting for £31bn.p.29