The British Business Bank newly supported 4,000 smaller businesses in London in 2025/26, with these businesses expected to create a forecast 14,900 additional jobs, according to latest figures.
In its third annual Impact Report, published today, the Bank estimates London businesses will generate £7.2bn in additional turnover over the lifetime of the finance provided as a result of the Bank’s activities in the past financial year.
This will drive an uplift in economic output of £3.5bn over the lifetime of the finance, while supporting 43,400 jobs.
Mark Sterritt, Managing Director, British Business Bank Local Growth Team said: “London’s private sector continues to make a major contribution to the UK economy and these figures show the scale of what can be achieved when ambitious companies can access the right finance.
“Supporting 4,000 businesses in the capital over the last year is expected to generate £7.2bn of additional turnover and create 14,900 new jobs over the lifetime of the finance.
“From early-stage companies developing new ideas to established firms investing for growth, access to finance remains central to London’s business success. With the Bank now able to invest at greater scale than ever before, we’re well placed to build on this impact and support more smaller businesses across the capital as they grow.”
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