British Business Bank

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "British Business Bank"

Transcription

1 British Business Bank Peter Wilson CEO British Business Bank Investments ABFA Annual Conference 3 June 2015

2 Contents Overview of the British Business Bank Rationale Business Model Aims Programmes Impact Investment Programme & IF Criteria and process Questions 2

3 Ownership and structure HM Treasury Secretary of State BIS Financial Framework British Business Finance Limited Mandated Arm British Business Financial Services Limited Service Arm Operates as a fully commercial investor; targets all SMEs and midcaps Operates on a State aid basis; targets SMEs where there is a demonstrable market failure Performs services on behalf of BIS; can target all smaller businesses

4 British Business Bank timeline March 2013 July 2013 Secretary of State s Advisory Group completes report on Business Bank Jan-July 2014 Publication of Strategic Plan Publication of Business Finance Guide Launch Enable Guarantee pilot Full Board appointments October 2013 First Investment Programme investment Strategy update Appointment of Chair on the creation of April-June 2013 the Business Bank Launch of Investment Programme as first Business Bank programme Oct-Dec 2014 State aid approval received from European Commission British Business Bank fully operationally as PLC Jan Mar 2015 Help to Grow announced by PM Request for proposals for Help to Grow, credit reference agencies and referrals platforms launched. September 2012 Official creation of Business Bank 4

5 What is the underlying problem? Business investment by UK SMEs is comparatively low Share of total business investment by company size (2011) Absolute levels of SME business investment (2011) France bn Germany 83.33bn UK SMEs share of investment is significantly smaller than in other EU countries Spain 63.49bn Italy 63.03bn UK 55.61bn Solid colours indicate percentage of total business investment for companies with <250 employees BIS Analysis of Eurostat, March 2013 and also in absolute terms 5

6 Concentrated market, negative net lending SME Bank Lending Concentrated Market Rising Investment Source: Finance & Leasing Association 6

7 Our model Expertise Designing solutions to make finance markets for small businesses work better Money 3bn of public funding commitments Start-up funding providers Business Angels Asset Finance providers Banks Venture Capital providers Private Sector Money Private Sector Money Invoice Finance / Factoring Debt funds Trade Credit providers Supply-chain Finance providers Peer-to-peer Lenders Source: British Business Bank, December

8 Our delivery partners Source: British Business Bank, December

9 Our aims More Finance Up to 10bn Greater Choice of product and provider Better Info About finance options Return for Taxpayer Start-up Scale up Stay strong Resulting in increased business investment, growth and jobs 9

10 The businesses we help START-UP: Finch Installations Innovative technology to improve the diagnostics of clinical tests Total investment by Enterprise Capital Funds of 4.6m enabled launch of the product and securing of two large contracts. Successful sale of the company generated c. 4x return to investors. STAY STRONG: Viva Brazil 9,000 Start-Up Loan to start shop fitting business. Loan granted through Delivery Partner SWIG Assigned a mentor to provide advice Now employs 20 people. SCALE-UP: Sirigen Brazilian-style restaurant which first opened in Liverpool in 2010 then Glasgow a year later. 375k EFG from Santander enabled expansion to Cardiff 30 new jobs created Since expanded to Aberdeen Source: British Business Bank, December

11 Programme offer Start-up Scale up Stay strong Mentoring and funds to be your own boss Up to 25k for people wanting to start their first own business 6% interest Delivered through Start Up Loans Company and delivery partners Funds for high growth potential Co-invests alongside angel syndicates on commercial terms Venture Capital EC approval for bigger investments and funds Ability to help close good quality funds Growth Loans Request for proposals for pilot to be announced at Budget Source: British Business Bank, March More funding options and choice of provider Investment Programme 250m of awards to new platforms, debt funds and asset based lenders Enable Capital focused guarantees to grow small bank lending Capital markets funding for smaller asset based lenders Enterprise Finance Guarantee Guarantees to extend banks risk appetite where security is insufficient Referrals Smaller businesses rejected for loans from major banks given opportunity to be referred to other finance providers

12 Venture Capital programmes Range of programmes and products supporting a vibrant and diverse venture capital market to support early stage and high-growth potential firms in the UK Enterprise Capital Fund (ECF) - Encourages early-stage venture capital investment - Make investments into funds, alongside the private sector, to increase the availability of growth capital for small businesses, which are underserved by equity markets 17 ECFs with an overall investment capacity of over 550m ( incl. private sector) Venture Capital Catalyst Fund - Encourages later-stage venture capital investment - Co-invests on the same terms as private investors into funds to help them reach a satisfactory first close Angel CoFund - Makes equity investments (between 100k and 1m) alongside syndicates of Business Angels - Portfolio of 108m of investments in small businesses Source: British Business Bank, December

13 Lending programmes Range of programmes and products that support the flow of debt-based finance into smaller businesses Start-up Loans - Provides loans and mentoring support to enable entrepreneurs to start a business - Delivered by the Start Up Loans Company - an independent business - funded by the British Business Bank. - The th loan was awarded in January 2015, announced by the PM Enterprise Finance Guarantee (EFG) - Providing a partial guarantee to lenders to encourage financial institutions to lend to viable smaller businesses lacking collateral - 40 lending institutions participate in EFG ranging from major banks to Community Development Financial Institutions (CDFIs) - Over 850m of smaller businesses loans currently being supported by the programme* Provide Guarantee Lenders Pay Premium Lending Repayment (Capital and Interest Fees Smaller Businesses Premium Source: British Business Bank, December

14 Encouraging diversity Programmes designed to provide greater choice of finance provider and type of finance for smaller businesses Investment Programme - Addresses long-standing gaps in finance markets for smaller business and promotes greater choice in the supply of lending - 203m commitments to a range of finance providers including peer-to-peer platforms, debt funds and lease finance providers (as at February 2015) ENABLE Guarantees - Risk transfer mechanism for SME loan portfolios to make SME lending more capital efficient - Aims to address capital constraints associated with SME lending - Pilot launched March 2014 first transaction expected in Spring 2015 ENABLE Funding - An efficient funding tool for the asset finance industry - ENABLE works by purchasing newly-originated receivables from smaller asset finance providers and warehousing them - It will then seek to refinance a portion of its funding through capital markets Source: British Business Bank, December

15 Impact British Business Bank programmes are already delivering results 1.84bn to smaller businesses 43,000 Number of smaller businesses currently benefitting from British Business Bank support 1.24bn to mid-cap businesses Source: British Business Bank, December

16 Building awareness of funding options The business finance guide 75,000+ hard copies through partners and direct 600,000+ circulation (HMRC and direct marketing and Partners) One million+ online & twitter page views David Prosser, January 2015 Evening Standard: there are some excellent sources of advice on alternative finance. Best of all is the comprehensive guide to the sector published jointly by the British Business Bank and the Corporate Finance Faculty at the Institute of Chartered Accountants in England and Wales (ICAEW). See for details." Source: British Business Bank & ICAEW, March

17 Investment Programme & Invoice Finance Investment Programme: Objectives Invoice Finance support to date Criteria Process Illustrative examples 17

18 Investment Programme objectives Diversification: Support the development of diverse debt finance markets available to SMEs Leverage: Mobilise additional funding from private sector sources in order to support lending to SMEs Effective Deployment: Channel finance to SMEs in an effective, appropriate and responsible manner Additionality: Expand the aggregate amount and / or types of debt funding available to SMEs 273 million committed to date to 11 lenders 18

19 Investment Programme Invoice Discounting BBBIL have provided support for three ID companies to date: partnering Caveat - the availability of short term bank finance can make the case for additionally weak Needs to be a solid rationale for BBBIL to participate 19

20 Investment Programme criteria Focus on delivering objectives of diversification, leverage, effective deployment and additionality Minimum requirements for bids to be compliant TARGET MARKET INVESTMENT STRATEGY INVESTMENT SIZE AND TENOR DEPLOYMENT OF FUNDS COMMERCIAL RETURNS MATCHED FUNDING PARI PASSU INVESTMENT TERMS MANAGEMENT TEAM AND TRACK RECORD LEGAL STRUCTURE, REGULATION & DOMICILE 20

21 Investment Programme criteria TARGET MARKET Funder of UK SMEs with t/o < 100m (i.e. your customers) Preference for t/o < 25m INVESTMENT STRATEGY Must be focused on debt finance Strong interest in supporting asset finance INVESTMENT SIZE AND TENOR Open to requests for 10m to 100m Investment tenor of <10 years 21

22 Investment Programme criteria DEPLOYMENT OF FUNDS Deploy funds within 3 years of commitment Ability to lend quickly to benefit SMEs Require evidence of origination capability COMMERCIAL RETURNS Must generate commercial return that meets needs of private sector investors MATCH FUNDING Maximum commitment of 50% investment requirement Require evidence of match funding New leases funded from existing facilities can qualify 22

23 Investment Programme criteria PARI PASSU INVESTMENT TERMS Seek to invest on the same basis as private sector investors MANAGEMENT TEAM AND TRACK RECORD Successful and relevant track record LEGAL STRUCTURE, REGULATION & DOMICILE Transparent and appropriate investment, regulatory and tax structures 23

24 Investment Programme process Expression of Interest Initial Meeting I II III Formal Proposal Award Due Diligence VI V IV Management Presentation Completion Commitment and Drawdown VII VIII Lending 24

25 Expansion Capital Initiative Launched on 2 February 2015 BBBIL can invest in equity / pref shares / mezzanine or other form of risk capital as lead or sole investor, typically senior to owners equity Development and growth capital to speciality SME lenders Commercial rate of return reflecting risk undertaken No requirement for investments to be match-funded provided: Sufficient leverage of BBBIL funds Additional funds in place to support business plan development Strong fit to Investment Programme objectives Appropriate risk / reward profile and covenants Expansion capital investments can be made alongside other BBBIL funding e.g. block lines 25

26 BBBIL investment: Example 1 Current financing in place 5m Equity 20m Bank funders Financing post 16m BBBIL Investment 5m Equity 3m Equity Growth in equity 8m New funding lines New third party debt financing 16m Bank funding 10m New BBBIL funding c. 20m loan book c m loan book 26

27 BBBIL investment: Example 2 Current financing in place 4m Equity Financing post 20m BBBIL Investment 4m Equity 4m Risk Capital Expansion Capital 16m Bank funding 16m Bank funding 8m New funding lines 16m Debt Financing New third party debt financing Direct Capital Investment (Co-investor) c m loan book c m loan book 27

28 What success looks like + Not 28

29 Parting Message: We re here to help talk to us. Questions? 29

British Business Bank Growth Loans Pilot

British Business Bank Growth Loans Pilot British Business Bank Growth Loans Pilot Delivering Help to Grow 26 th March 2015 Content Welcome and Introduction The Evidence Base: Research Findings The Growth Loans Pilot Application Process and Next

More information

Measures to support access to finance for SMEs. Funding for Lending... 2. The National Loan Guarantee Scheme (NLGS)... 2

Measures to support access to finance for SMEs. Funding for Lending... 2. The National Loan Guarantee Scheme (NLGS)... 2 Measures to support access to finance for SMEs Contents Funding for Lending... 2 The National Loan Guarantee Scheme (NLGS)... 2 Enterprise Finance Guarantee (EFG)... 3 Business Finance Partnership (BFP)...

More information

CfEL Equity Scheme Data

CfEL Equity Scheme Data CfEL Equity Scheme Data Summary CfEL manage a range of VC schemes providing equity finance targeted towards high growth potential SMEs on behalf of the Department for Business, Innovation and Skills (BIS).

More information

BUILDING THE BRITISH BUSINESS BANK: INVESTMENT PROGRAMME. Question & Answers FEBRUARY 2014

BUILDING THE BRITISH BUSINESS BANK: INVESTMENT PROGRAMME. Question & Answers FEBRUARY 2014 BUILDING THE BRITISH BUSINESS BANK: INVESTMENT PROGRAMME Question & Answers FEBRUARY 2014 Contents Contents... 2 Submission... 3 Target Market... 4 Match Funding... 4 Pari Passu Terms... 5 Legal, Structure

More information

BUILDING THE BUSINESS BANK. Strategy Update MARCH 2013

BUILDING THE BUSINESS BANK. Strategy Update MARCH 2013 BUILDING THE BUSINESS BANK Strategy Update MARCH 2013 Contents Foreword by Vince Cable... 3 1. Objectives and Timetable... 4 2. Market analysis... 7 2.1. Demand for Finance... 7 2.2. Supply... 9 3. Finance

More information

Improving access to finance for small and medium-sized enterprises

Improving access to finance for small and medium-sized enterprises Report by the Comptroller and Auditor General Department for Business, Innovation & Skills and HM Treasury Improving access to finance for small and medium-sized enterprises HC 734 SesSIon 2013-14 1 November

More information

5. Funding Available for IP-Rich Businesses

5. Funding Available for IP-Rich Businesses 20 IP Finance Toolkit 5. Funding Available for IP-Rich Businesses Introduction As the Banking on IP? report notes; SMEs first port of call for finance is often a bank. Figures quoted in the report show

More information

Finance in Cornwall & the Isles of Scilly

Finance in Cornwall & the Isles of Scilly Finance in Cornwall & the Isles of Scilly May 2015 This factsheet looks to summarise our understanding of the main (non-bank, non-asset backed) sources of funding potentially available to businesses in

More information

Enterprise Finance Guarantee. Frequently Asked Questions NOVEMBER 2014

Enterprise Finance Guarantee. Frequently Asked Questions NOVEMBER 2014 Frequently Asked Questions NOVEMBER 2014 Section One EFG Eligibility Conditions My business meets the basic EFG eligibility criteria. Does that mean I will definitely get an EFG loan? No. Lenders retain

More information

Manchester City Council Report for Information. Overview and Scrutiny Business Start Up Task and Finish Group 1 February 2012

Manchester City Council Report for Information. Overview and Scrutiny Business Start Up Task and Finish Group 1 February 2012 Manchester City Council Report for Information Report To: Subject: Report of: Overview and Scrutiny Business Start Up Task and Finish Group 1 February 2012 Access to Finance for Start Up Businesses Interim

More information

FUNDING FOR RECOVERY Invest Northern Ireland February 2014

FUNDING FOR RECOVERY Invest Northern Ireland February 2014 FUNDING FOR RECOVERY Invest Northern Ireland February 2014 Access to Finance Totality of Funds Purpose Rationale Access to Finance solutions Key criteria The Funds Finance vouchers Priorities Concluding

More information

Agenda item 6 CfER 01/12/10-05 COUNCIL FOR ECONOMIC RENEWAL ACCESS TO FINANCE

Agenda item 6 CfER 01/12/10-05 COUNCIL FOR ECONOMIC RENEWAL ACCESS TO FINANCE 1. Purpose COUNCIL FOR ECONOMIC RENEWAL ACCESS TO FINANCE 1.1 Ensuring that businesses have sufficient access to start up and growth investment, not only to meet current demands but to finance the ambitious

More information

European Investment Fund Activity

European Investment Fund Activity European Investment Fund Activity Annual commitments 2006-2009 3540 3040 2540 2040 1540 1040 540 40 Equity Guarantees The EIF is Europe s leading developer of risk financing for entrepreneurship and innovation.

More information

Support to business during a recession. Scheme outlines

Support to business during a recession. Scheme outlines Support to business during a recession Scheme outlines MARCH 2010 Contents Working Capital Scheme 1 Trade Credit Insurance Scheme 3 Enterprise Finance Guarantee Scheme 6 Capital for Enterprise Fund 9 Automotive

More information

FUNDING SNAPSHOT 2013

FUNDING SNAPSHOT 2013 FUNDING SNAPSHOT 2013 Case Study How do I raise more finance for my business? Until recently the big banks were the first stop for businesses wanting to borrow money, but the marketplace is changing. Alternative

More information

Innovation and PPP financing: The European Investment Fund

Innovation and PPP financing: The European Investment Fund Innovation and PPP financing: The European Investment Fund Dr. Helmut Kraemer-Eis Head of Research & Market Analysis European Investment Fund UNECE - 12 February 2014 Geneva What is the EIF? As part of

More information

Funding your Business October 2014

Funding your Business October 2014 Steve Plaskitt Corporate Finance Partner 07881 511 853 steve.plaskitt@taitwalker.co.uk Funding your Business October 2014 Contents Overview Finding the right structure Sourcing the right funding Internal

More information

Supply chain finance: additional insights

Supply chain finance: additional insights 10 February 2012 Our ref: ICAEW Rep 14/12 business.finance@bis.gsi.gov.uk To Breedon Taskforce Supply chain finance: additional insights ICAEW is pleased to provide additional evidence to the industry

More information

Helping businesses source finance

Helping businesses source finance SUPPORTING BUSINESS - SOURCING FINANCE Helping businesses source finance Helping businesses source finance These are challenging times for every business. The economic environment has changed and many

More information

22 November 2012, Madrid

22 November 2012, Madrid 22 November 2012, Madrid 1. Introduction on EIF Introduction on EIF 2 / 21 Introduction on EIF EIF at a Glance 1. Introduction on EIF EU specialised institution for SMEs, risk financing Venture Capital

More information

Better Business Finance

Better Business Finance Better Business Finance Alternative sources of finance There are a wide range of financial products now available to help businesses access the investment needed to grow and thrive. This factsheet explains

More information

Access to Finance Guide: 1. Bank Finance Options

Access to Finance Guide: 1. Bank Finance Options Access to Finance Guide: 1. Bank Finance Options Overdrafts An overdraft is a flexible way for you to manage short-term borrowing requirements. Business overdrafts are traditionally easy to arrange and

More information

Business Funding Guide January 2013

Business Funding Guide January 2013 Business Funding Guide January 2013 Identifying sources of funding for business is a complex and time-consuming process. We appreciate that the eligibility criteria, company size, sector, location, and

More information

Overview of the EIB Group Financial Instruments for SMEs

Overview of the EIB Group Financial Instruments for SMEs Overview of the EIB Group Financial Instruments for SMEs Lublin, 22 June 2015 Tomasz Kozlowski Head of Innovation & Alternative Financing Programmes European Investment Fund European Investment Bank Group

More information

Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF )

Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF ) Offering to LEP s in respect of Financial Instruments Strategies for European Structural Investment Funds ( ESIF ) Dear LEP Representative As you consider the options for an ESIF-backed Financial Instruments

More information

Finance for Business Growth

Finance for Business Growth Finance for Business Growth A Presentation by Clive Lewis, Head of Enterprise, Institute of Chartered Accountants in England & Wales (ICAEW) Finance for Growth Businesses Presentation will cover: Do you

More information

BBA submission on the Government s Consultation SME finance: help to match SMEs rejected for finance with alternative lenders

BBA submission on the Government s Consultation SME finance: help to match SMEs rejected for finance with alternative lenders BBA submission on the Government s Consultation SME finance: help to match SMEs rejected for finance with alternative lenders The British Bankers Association (BBA) is the leading association for the United

More information

CREDIT GUARANTEE SCHEME

CREDIT GUARANTEE SCHEME CREDIT GUARANTEE SCHEME Customer Frequently Asked Questions 1. What is the purpose of the Scheme? The purpose of the Scheme is to encourage additional lending to micro, small and mediumsized enterprises

More information

Welcome to Finditinworcestershire Breakfast Event. How to be investment ready; funding your business growth Tuesday, May 17

Welcome to Finditinworcestershire Breakfast Event. How to be investment ready; funding your business growth Tuesday, May 17 Welcome to Finditinworcestershire Breakfast Event How to be investment ready; funding your business growth Tuesday, May 17 Introduction Kathryn Wagstaff Economic Development and Sustainability Unit Worcestershire

More information

EU Social Investment Financial instruments in support of social entrepreneurship and impact investment

EU Social Investment Financial instruments in support of social entrepreneurship and impact investment EU Social Investment Financial instruments in support of social entrepreneurship and impact investment Serge PATOU, Policy Officer DG ECFIN, Financing for Innovation, Competitiveness and Employment European

More information

Managing Cash Flow & Accessing Finance

Managing Cash Flow & Accessing Finance Managing Cash Flow & Accessing Finance A Presentation by Clive Lewis, Head of Enterprise, Institute of Chartered Accountants in England & Wales (ICAEW) Managing Cash Flow & Accessing Finance Presentation

More information

"Recent facts on finance for innovation and how EU-financial instruments help innovative SMEs".

Recent facts on finance for innovation and how EU-financial instruments help innovative SMEs. "Recent facts on finance for innovation and how EU-financial instruments help innovative SMEs". Jean-Noël Durvy, Director for Innovation Policy Geneva, 29 September 2009, Promoting Innovation-based Entrepreneurial

More information

Guide to Government s Business Services

Guide to Government s Business Services Guide to Government s Business Services August 2014 Why small business is big business 2 Index Helping small businesses: What support is there for a small business? 4 Business Advice 5 Local Advice & Support

More information

Investment required: up to 400,000 (EIS pending)

Investment required: up to 400,000 (EIS pending) Web Brief New Peer-to-Peer Crowd Funding Business BFS Ref.: PF/394/045 Investment required: up to 400,000 (EIS pending) Summary Our client is a new start company, and will enter the rapidly expanding UK

More information

Capital for Enterprise Ltd: Overview of publiclybacked venture capital and loan funds in the UK

Capital for Enterprise Ltd: Overview of publiclybacked venture capital and loan funds in the UK Capital for Enterprise Ltd: Overview of publiclybacked venture capital and loan funds in the UK January 212 1 Broadfield Close Sheffield S8 XN Page 1 Acknowledgements CfEL would like to thank Sian Price

More information

Smarter Business Guide to the European Investment Bank

Smarter Business Guide to the European Investment Bank Smarter Business Guide to the European Investment Bank Ireland s membership of the European Union (EU) has been a key factor in its recent development. Our membership will play a vital role in helping

More information

MARKET NOTICE - EXPANDING ELIGIBLE COLLATERAL IN THE DISCOUNT WINDOW FACILITY

MARKET NOTICE - EXPANDING ELIGIBLE COLLATERAL IN THE DISCOUNT WINDOW FACILITY MARKET NOTICE - EXPANDING ELIGIBLE COLLATERAL IN THE DISCOUNT WINDOW FACILITY 1. This Market Notice provides details on the Bank s requirements for accepting portfolios of loans as collateral in the Discount

More information

COSME Financial Instruments for SMEs

COSME Financial Instruments for SMEs COSME Financial Instruments for SMEs Stockholm, 4 February 2015 Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW) Unit F3: SME Access to Finance Astrid Bartels (Policy

More information

Alternative Finance for SMEs and Mid-Market Companies Brussels Presentation

Alternative Finance for SMEs and Mid-Market Companies Brussels Presentation Alternative Finance for SMEs and Mid-Market Companies Brussels Presentation 27th November, 2013 Agenda Introduction Backdrop: bank lending to companies in Germany, France, UK, Italy and Spain Policymakers

More information

SMALL BUSINESS FINANCE MARKETS

SMALL BUSINESS FINANCE MARKETS SMALL BUSINESS FINANCE MARKETS 2015/16 www.british-business-bank.co.uk info@british-business-bank.co.uk British Business Bank @BritishBBank 2 BRITISH BUSINESS BANK CONTENTS 3 FOREWORD 4 EXECUTIVE SUMMARY

More information

Scottish Investment Bank

Scottish Investment Bank Scottish Investment Bank Energy Catalyst Brokerage Event Michelle Howell Senior REIF Manager Scottish Investment Bank is the investment arm of Scottish Enterprise Scottish Investment Bank was established

More information

FINANCIAL SUPPORT AVAILABLE TO BUSINESS (AT 8th February 2011)

FINANCIAL SUPPORT AVAILABLE TO BUSINESS (AT 8th February 2011) FINANCIAL SUPPORT AVAILABLE TO BUSINESS (AT 8th February 2011) Enterprise Finance Guarantee BIS 14 January 2009 Guarantees to lenders to enable them to provide debt facilities which would otherwise be

More information

Public consultation on Building a Capital Markets Union

Public consultation on Building a Capital Markets Union Case Id: 6793f8c7-c6ef-45dd-8987-665fe5775337 Date: 13/05/2015 23:30:38 Public consultation on Building a Capital Markets Union Fields marked with * are mandatory. Introduction The purpose of the Green

More information

Enterprise, Growth and Business Investment

Enterprise, Growth and Business Investment Chapter 5 Enterprise, Growth and Business Investment Introduction Plans for 2005/06 Performance in 2004/05 Improving Service Delivery Enterprise Culture Disadvantaged Communities and Under-Represented

More information

Creating growth Improving access to finance for UK creative industries

Creating growth Improving access to finance for UK creative industries Brief March 2011 Creating growth Improving access to finance for UK creative industries Emma Wild knowledge economy group CBI email: emma.wild@cbi.org.uk Access to finance is essential for business growth.

More information

The big Small and Medium story - A commentary on SME Financing

The big Small and Medium story - A commentary on SME Financing The big Small and Medium story - A commentary on SME Financing Mr. Rakesh Singh CEO Limited Key Fundamentals update Developments since Mar 14 Apr Dec 13 Nov 14 New Government Equity Fed tapering / US Recovery

More information

Access to finance for. SMEs. István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs

Access to finance for. SMEs. István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs Access to finance for SMEs István NÉMETH European Commission DG for Internal Market, Industry, Entrepreneurship and SMEs Why EU intervention needed? EU financial instruments for SMEs Building on success

More information

1. Introduction. For further information contact; Donnchadh Cullinan Manager, Banking Relationships & Growth Capital Department +353 1 727 2162

1. Introduction. For further information contact; Donnchadh Cullinan Manager, Banking Relationships & Growth Capital Department +353 1 727 2162 Enterprise Ireland is the Government agency responsible for the development and growth of Irish enterprises in world markets. We work in partnership with Irish enterprises to help them start, grow, innovate

More information

InnovFin SME Guarantee & COSME Loan Guarantee. Workshop Warsaw, 6 November 2014

InnovFin SME Guarantee & COSME Loan Guarantee. Workshop Warsaw, 6 November 2014 InnovFin SME Guarantee & COSME Loan Guarantee Workshop Warsaw, 6 November 2014 EIF at a Glance EU specialised institution for SMEs risk financing Debt - Structuring and Guaranteeing portfolios of SME loans/leases

More information

Review of Equity Investment in Small Businesses

Review of Equity Investment in Small Businesses Review of Equity Investment in Small Businesses March 2015 Contents Ministerial Foreword... 3 Introduction... 4 Executive Summary... 5 Chapter 1: Use of equity finance by smaller businesses... 9 Chapter

More information

Support for Research, Development and Innovation

Support for Research, Development and Innovation Support for Research, Development and Innovation Introduction: «Financial instruments for SMEs and larger companies provided by the European Union and the European Investment Bank» Seminar on «Financial

More information

Funding business expansion. Asset Finance and Asset-Based Lending as alternative approaches to Debt Finance

Funding business expansion. Asset Finance and Asset-Based Lending as alternative approaches to Debt Finance Funding business expansion Asset Finance and Asset-Based Lending as alternative approaches to Debt Finance Targeting growth If there was any doubt whether the UK economy remains on the path to growth,

More information

GUIDE TO BUSINESS FINANCE & BUSINESS FUNDING

GUIDE TO BUSINESS FINANCE & BUSINESS FUNDING GUIDE TO BUSINESS FINANCE & BUSINESS FUNDING M3 Corporate Finance M3 Corporate Finance is an independent corporate finance house focused exclusively on mid-market transactions. M3 offers specialist corporate

More information

MJS Business Finance Ltd 2nd Floor, 31 Waterloo Road, Wolverhampton WV1 4DJ

MJS Business Finance Ltd 2nd Floor, 31 Waterloo Road, Wolverhampton WV1 4DJ Introduction MJS specialise in advising small to medium size enterprises (SME s) in all areas concerning Business Funding. We are appointed by a number of accountancy firms to work with and advise their

More information

Improving access to finance for small and medium-sized enterprises

Improving access to finance for small and medium-sized enterprises Report by the Comptroller and Auditor General Department for Business, Innovation & Skills and HM Treasury Improving access to finance for small and medium-sized enterprises HC 734 SesSIon 2013-14 1 November

More information

DBN. A presentation on the DBN s MSME Support & Strategy-Emphasis on Innovation Fund Occasion:NBIC Entrepreneurs Circle

DBN. A presentation on the DBN s MSME Support & Strategy-Emphasis on Innovation Fund Occasion:NBIC Entrepreneurs Circle DBN A presentation on the DBN s MSME Support & Strategy-Emphasis on Innovation Fund Occasion:NBIC Entrepreneurs Circle MICHAEL HUMAVINDU, Research Department 28 February 2011 Contents 1. Introduction to

More information

Peter Brinsley Director, Point Forward Ltd PZF Congress, 17 September 2015

Peter Brinsley Director, Point Forward Ltd PZF Congress, 17 September 2015 + New brands / instruments in Receivables Finance Peter Brinsley Director, Point Forward Ltd PZF Congress, 17 September 2015 + Receivables Finance Supply Chain Finance Forfaiting Factoring Trade Receivables

More information

Funding Circle The FS Forum

Funding Circle The FS Forum Funding Circle The FS Forum 2015 1 Contents Funding Circle The Investor Journey Our Partnerships with Existing Lenders 2 Funding Circle Index Ventures DST Global Rabbit Capital Baillie Gifford BlackRock

More information

European Union SME policies. Ulla Hudina

European Union SME policies. Ulla Hudina European Union SME policies Ulla Hudina EU Finance Day for SMEs, Athens, 20th January 2009 Supporting SMEs SMEs backbone of EU economy: important players in all value chains; 23 million SMEs (99 % of all

More information

Recent policy approaches to SME finance

Recent policy approaches to SME finance Recent policy approaches to SME finance Dr. Helmut Kraemer-Eis Head of Research & Market Analysis European Investment Fund 07 July 2014 Rome The European Investment Fund (EIF) at a glance 1994 founded

More information

ACCESS TO FINANCE. of SMEs in the euro area, European Commission and European Central Bank (ECB), November 2013.

ACCESS TO FINANCE. of SMEs in the euro area, European Commission and European Central Bank (ECB), November 2013. ACCESS TO FINANCE Improving access to finance is essential to restoring growth and enhancing competitiveness. Investment and innovation are not possible without adequate financing. Difficulties in accessing

More information

Community and Renewable Energy Scheme Project Development Toolkit

Community and Renewable Energy Scheme Project Development Toolkit Community and Renewable Energy Scheme Project Development Toolkit Balance Sheet Equity Investment Community Bond Issues Community Vehicle Crowd Funding Debentures a form of bond Debt Debt Service Cover

More information

The Young Entrepreneur's guide to starting a business (Part 5)

The Young Entrepreneur's guide to starting a business (Part 5) Page 1 The Young Entrepreneur's guide to starting a business (Part 5) Richard Belsey & Fergal McLoughlin May 2013 A whistle stop tour of alternative funding options for start-ups As part of our Young Entrepreneur

More information

Restoring Financing and Growth To Europe s SMEs. Jeffrey Anderson Senior Director for European Affairs (formerly)

Restoring Financing and Growth To Europe s SMEs. Jeffrey Anderson Senior Director for European Affairs (formerly) Restoring Financing and Growth To Europe s SMEs Jeffrey Anderson Senior Director for European Affairs (formerly) 1. Introduction & Report Focus 2. SMEs in Europe 3. Main Findings 4. Four sets of Impediments

More information

Financing a New Venture

Financing a New Venture Financing a New Venture A Canadian Innovation Centre How-To Guide 1 Financing a new venture New ventures require financing to fund growth Forms of financing include equity (personal, family & friends,

More information

CABINET 9 APRIL 2013 BUSINESS LOAN FUND REPORT OF THE CHIEF EXECUTIVE

CABINET 9 APRIL 2013 BUSINESS LOAN FUND REPORT OF THE CHIEF EXECUTIVE E CABINET 9 APRIL 2013 BUSINESS LOAN FUND REPORT OF THE CHIEF EXECUTIVE Purpose of the Report PART A 1. To seek approval for the establishment of a Business Loan Fund for small business in Leicestershire.

More information

Finance Wales Group Annual review 2012-13

Finance Wales Group Annual review 2012-13 Finance Wales Group Annual review 2012-13 Finance Wales Group Our mission To maintain our position as the UK s leading SME fund manager, delivering commercial investments from public and private funds

More information

Guidance for Prospective Managers

Guidance for Prospective Managers November 2014 ENTERPRISE CAPITAL FUNDS (ECFs) Contents PART 1: OVERVIEW... 3 (i) Introduction... 3 (ii) Objectives of the ECF programme... 3 (iii) Context: the equity gap... 3 (iv) Key features of Enterprise

More information

Financial Instruments provided by the European Investment Bank (including Risk Sharing Finance Facility)

Financial Instruments provided by the European Investment Bank (including Risk Sharing Finance Facility) Financial Instruments provided by the European Investment Bank (including Risk Sharing Finance Facility) M. D hooge Financial instruments for Innovations, Research and Development 30 November 2009, Prague

More information

-> Difficulties with access to finance -> the inherent complexity the innovation process -> and administrative / regulatory burdens.

-> Difficulties with access to finance -> the inherent complexity the innovation process -> and administrative / regulatory burdens. 1 Entrepreneurship is about two things. It means, of course, fostering the creation of new start-ups. But entrepreneurship refers also to a mindset, that should be stimulated at each stage of a company

More information

Enterprise Innovation Fund (ENIF) South Central Ventures. EU Access to Finance Day Skopje, 11. November 2015

Enterprise Innovation Fund (ENIF) South Central Ventures. EU Access to Finance Day Skopje, 11. November 2015 Enterprise Innovation Fund (ENIF) EU Access to Finance Day Skopje, 11. November 2015 South Central Ventures 2 WB EDIF: The overview Comprehensive Private Sector Development Project The first private sector/sme

More information

E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S

E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S EUROPEAN INVESTMENT BANK SB/06/15 4 December 2015 Document 13-2015 FOR DECISION E U R O P E A N F U N D F O R S T R A T E G I C I N V E S T M E N T S S T E E R I N G B O A R D EIF- EFSI MULTIPLIER CALCULATION

More information

BUSINESS SUPPORT. A guide for businesses in the city

BUSINESS SUPPORT. A guide for businesses in the city BUSINESS SUPPORT A guide for businesses in the city FOREWORD Welcome to the Business Support Guide, the map of the support available for businesses. This guide was produced by Plymouth City Council at

More information

COSME 2014-2020. Vilmos Budavari European Commission DG Enterprise and Industry, Unit D.3 Financing SMEs

COSME 2014-2020. Vilmos Budavari European Commission DG Enterprise and Industry, Unit D.3 Financing SMEs COSME 2014-2020 SEMINARIO FINANCIACIÓN INTELIGENTE PARA PYMES: INSTRUMENTOS NACIONALES Y FONDOS EUROPEOS EN EL NUEVO MARCO 2014-2020 Gran Canaria, 24 de Marzo 2014 Vilmos Budavari European Commission DG

More information

The Right Hon Jack Straw MP Secretary of State for Foreign and Commonwealth Affairs Downing Street UK London SW1A 2AL

The Right Hon Jack Straw MP Secretary of State for Foreign and Commonwealth Affairs Downing Street UK London SW1A 2AL EUROPEAN COMMISSION Brussels, 23.I.2006 C(2006)168 Subject: State Aid N 73/2005 United Kingdom East Midlands Media Investment Sir, 1. PROCEDURE 1. By letter dated 14 February 2005, registered at the Commission

More information

Eurostat's 2010 Survey Questionnaire on Access to Finance

Eurostat's 2010 Survey Questionnaire on Access to Finance From: Entrepreneurship at a Glance 2012 Access the complete publication at: http://dx.doi.org/10.1787/entrepreneur_aag-2012-en Eurostat's 2010 Survey Questionnaire on Access to Finance Please cite this

More information

VENTURE CAPITAL LOAN FUND FINANCED FROM ERDF

VENTURE CAPITAL LOAN FUND FINANCED FROM ERDF VENTURE CAPITAL LOAN FUND FINANCED FROM ERDF The case of Northwest England: Challenges, Achievements and Perspectives David Malpass, Director of ERDF European Programme, Northwest England OVERVIEW Background

More information

Impact Investment. AFI Summit Discussion August 18, 2015

Impact Investment. AFI Summit Discussion August 18, 2015 Impact Investment AFI Summit Discussion August 18, 2015 Catalyzing Investments Over Time Impact Investing S SCALE OF OUTREACH c a l e Institution Building Governance Project-based TA SUSTAINABILITY Why

More information

The Highland Council. Resources Committee

The Highland Council. Resources Committee The Highland Council Resources Committee 27 May 2015 Scottish Local Authority Business Loan Fund Report by Director of Development and Infrastructure Agenda Item Report No 27 RES/ 54/15 Summary This report

More information

Request for Proposals to Administer the Pioneer Valley Grows Community Food Fund July 2013

Request for Proposals to Administer the Pioneer Valley Grows Community Food Fund July 2013 Request for Proposals to Administer the Pioneer Valley Grows Community Food Fund July 2013 The PVGrows Finance Working Group (FWG) seeks an administrative partner (or partners) to assist in the design,

More information

Introduction to Platform Black September 2013

Introduction to Platform Black September 2013 Introduction to Platform Black September 2013 Transaction Summary GLI Finance is investing 2m in Platform Black Limited ( Platform Black ), the fastest growing online platform for crowd-funding invoice

More information

Evaluation support summary

Evaluation support summary User5 SMALL Page FIRM 1LOAN 10/01/01 GUARANTEE Loan SCHEME GuaranteeScheme (SFLGS) (SFLGS) Executive EXECUTIVE Summary SUMMARY 1.1 Introduction The (SFLGS) was introduced by the Department of Trade and

More information

Gwynedd Loan Fund Information Guidelines For Prospective Applicants

Gwynedd Loan Fund Information Guidelines For Prospective Applicants Gwynedd Loan Fund Information Guidelines For Prospective Applicants Application forms can be obtained by contacting the Gwynedd Council Business Support Team on 01286 679778 or by e-mail: business@gwynedd.gov.uk

More information

Resource 4.5. A Summary of Sources of Finance for Starting a Business

Resource 4.5. A Summary of Sources of Finance for Starting a Business A Summary of Sources of Finance for Starting a Business Resource 4.5 Many new businesses fail because the owner does not have enough cash to last them through the first few months of trading, while their

More information

Trafford-BUSINESS SUPPORT LISTINGS

Trafford-BUSINESS SUPPORT LISTINGS Trafford-BUSINESS SUPPORT LISTINGS An extensive range of support organisations, initiatives and funding are available to help businesses in Trafford to grow and prosper. Some of these opportunities are

More information

FINANCING THE FUTURE. New government help for exporters. Tahir Ahmed. emita presentation Loughborough 17 May 2011

FINANCING THE FUTURE. New government help for exporters. Tahir Ahmed. emita presentation Loughborough 17 May 2011 FINANCING THE FUTURE New government help for exporters Tahir Ahmed emita presentation Loughborough 17 May 2011 1 New government help for exporters Chancellor announced in Budget - more support for exporters

More information

- Enhancing a successful pilot initiative. InnovFin SME Guarantee Oslo, 11 December 2014

- Enhancing a successful pilot initiative. InnovFin SME Guarantee Oslo, 11 December 2014 - Enhancing a successful pilot initiative InnovFin SME Guarantee Oslo, 11 December 2014 EIF at a Glance EU specialised institution for SMEs risk financing Debt - Structuring and Guaranteeing portfolios

More information

Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020)

Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020) Financial Instruments for RDI and Growth 2014-2020 (specific focus on COSME and Horizon 2020) Jean-David MALO European Commission - DG Research and Innovation Head of Unit RTD C-03 Financial Engineering

More information

Your bid for growth funds. Supporting your business with financing decisions

Your bid for growth funds. Supporting your business with financing decisions Your bid for growth funds Supporting your business with financing decisions Contents 3 Introduction 4 Preparing your application 6 Assessing applications 8 What Barclays considers 9 Funding solutions 10

More information

M Simpson Associates

M Simpson Associates Download M Simpson Associates A Straight Talking Consultancy Business specialists with the ability to see through the smoke and get to the bottom line quickly Exclusive Business Insight from M Simpson

More information

Parliamentarians Guidebook to Manufacturing Chapter 1: Finance for SME Manufacturers

Parliamentarians Guidebook to Manufacturing Chapter 1: Finance for SME Manufacturers Parliamentarians Guidebook to Manufacturing Chapter 1: Finance for SME Manufacturers i. Introduction... 2 ii. Overview: Finance for SME Manufacturers... 2 iii. Public funding mechanisms... 3 iv. Specialist

More information

Impact Investing Lab Financing innovation: the role of Angel Investing

Impact Investing Lab Financing innovation: the role of Angel Investing Impact Investing Lab Financing innovation: the role of Angel Investing December 3rd, 2014 www.iban.it Entrepreneurship: a definition

More information

ERC Insights. June 2014 FINANCING GROWTH

ERC Insights. June 2014 FINANCING GROWTH ERC Insights June 2014 FINANCING GROWTH Recent ERC research provides new insights into bank borrowing among UK SMEs and emphasises the potential value of effective company boards in helping firms to access

More information

Financial System Inquiry SocietyOne Submission

Financial System Inquiry SocietyOne Submission Financial System Inquiry SocietyOne Submission SocietyOne is pleased to make the following submission to the Financial System Inquiry. SocietyOne is Australia s first fully compliant Peer-to-Peer (P2P)

More information

LABOUR S PLAN FOR A STRATEGIC INVESTMENT BANK

LABOUR S PLAN FOR A STRATEGIC INVESTMENT BANK LABOUR S PLAN FOR A STRATEGIC INVESTMENT BANK Table of Contents Executive Summary...3 Overview...3 Operation...3 Introduction...5 An investment economy...5 The Long-term Case for a Strategic Investment

More information

Helping businesses source finance

Helping businesses source finance Helping businesses source finance www.firsttrustbank.co.uk 0345 6005 925 Ask at any branch Helping businesses source finance Business owners and entrepreneurs help their companies to grow and thrive and

More information

London Green Fund Selection of Waste Urban Development Funds IR-893. Questions and Answers

London Green Fund Selection of Waste Urban Development Funds IR-893. Questions and Answers London Green Fund Selection of Waste Urban Development Funds IR-893 Questions and s Question 1. What restriction, if any, will be placed on the waste UDF s ability to re-invest the initial commitment of

More information

Supporting small and medium-sized enterprises in 2012. A joint report of the European Commission. and the European Investment Bank Group

Supporting small and medium-sized enterprises in 2012. A joint report of the European Commission. and the European Investment Bank Group Supporting small and medium-sized enterprises in 2012 A joint report of the European Commission and the European Investment Bank Group Date: 02/05/2013 Foreword The European Commission and the European

More information

What Kind of Funding Can My Business Most Easily Qualify For?

What Kind of Funding Can My Business Most Easily Qualify For? What Kind of Funding Can My Business Most Easily Qualify For? FUNDING TYPES Businesses pass through several stages and there's funding to be had at every stage of their development. The information you

More information

Supporting Innovation in Slovenia. Ljubljana, 12 June 2015

Supporting Innovation in Slovenia. Ljubljana, 12 June 2015 Supporting Innovation in Slovenia Ljubljana, 12 June 2015 Welcome addresses: Sabina Koleša Director General, Ministry of Economic Development and Technology Sibil Svilan President and Member of the Management

More information