British Enterprise Investments (BBI), the wholly-owned business subsidiary of British Enterprise Financial institution, made a “document” £350m in commitments in the course of the 2021/22 monetary yr.
Based on the newest firm accounts, BBI delivered a pre-tax revenue of £189.4m final yr, whereas supporting greater than 24,000 small companies throughout the UK.
20 monetary commitments had been made to new and present supply companions – a document quantity. 13 of those supply companions represented new relationships for the agency.
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Throughout the 12 months ending 31 March 2022, BBI labored to extend the provision of finance to smaller companies by investing into finance suppliers together with different lenders.
For the reason that firm was established in 2014, it has delivered £3.38bn to finance suppliers lending to small companies. In addition to committing £350m over the past monetary yr, third events have invested an additional £1.2bn alongside BBI, that means that complete funding of virtually £1.6bn has been delivered to the UK market previously monetary yr.
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“We’re happy to report one other robust efficiency by British Enterprise Investments, delivering a document variety of new commitments in an annual interval and robust revenue earlier than tax of £189.4m,” stated Judith Hartley, chief govt of British Enterprise Investments.
“As a ‘by means of the cycle’ investor and lender we have now continued to speculate strongly during the last yr regardless of the difficult financial headwinds and have remained lively and visual out there, to help funding for the UK’s smaller companies.”
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