The British Business Bank (BBB) has revealed a new five-year plan to enhance small business finance in the UK, following increased financial capacity to £25.6bn. Objectives include increasing annual funding activity by two-thirds, enabling £10bn in lending, and supporting innovative technologies and scale-up businesses.

BBB aims to deliver 85,000 start-up loans, allocate £150m to community development finance institutions, and increase regional investment. CEO Louis Taylor emphasizes a more dynamic and inclusive finance ecosystem by 2030, with plans to fund 180,000 businesses, create 370,000 jobs, and generate £68bn in economic benefit.

The plan is expected to bring in around £26bn of private capital and help smaller businesses access the capital needed to scale and succeed in the UK market. The focus will be on supporting innovative technologies, scale-up businesses, and regional investment to create a more dynamic finance ecosystem over the next five years.

Read more at Yahoo Finance: British Business Bank unveils new plan to boost UK small business finance