The British Business Bank is taking delivery of its Start Up Loans programme for businesses in Wales in-house. From February the economic regeneration bank of the UK Government will be providing pre-loan support directly to Welsh start-up firms.
For the last decade support has been provided by Bridgend headquartered business advisory and property firm Business in Focus. The company will continue to provide support as an affiliate of the Start Up Loans programme. The British Business Bank is creating a dedicated team of business advisors aimed at increasing the number of start-up businesses accessing early-stage funding.
Where recruitment opportunities for the programme become available, the bank will seek to draw from a pool of candidates that include Welsh-speaking business advisors and loan approvers.
Richard Bearman, managing director, small business lending at the British Business Bank said, “I would like to thank Business in Focus for successfully delivering the service in Wales for the past ten years, and am grateful for their support going forward. We are looking forward to building on their work to deliver vital start-up capital and support to Welsh businesses through our programme over the coming months.”
Phil Jones, chief executive of Business in Focus, said: “In partnership with the British Business Bank and The Start-Up Loans Company, Business in Focus has delivered the Start Up Loans programme in Wales for over 10 years. Over that time, the more than £47.2m loaned to Welsh businesses has helped many to grow, to diversify and to transform their prospects of success. We are now working with the British Business Bank on a re-designed model of delivery – one that matches the changing needs of our client base and is relevant for the next 10 years.
“We are extremely proud of what the Start Up Loans programme has achieved. I would like to thank all the brilliant Business in Focus experts who have delivered this transformational service and the more than 4,600 entrepreneurs who put their faith in us to help them succeed and to release their entrepreneurial potential through the programme.”
