Nations and Regions Tracker 2024 Infographic

Use of external finance overall is recovering

46%

of smaller businesses across the UK used external finance in 2023, a 10 percentage point increase from the previous year

11

out of the 12 UK Nations and regions recorded an uptick in use of small business finance

Nearly 1 in 5 smaller businesses

(17%) used credit cards, the most popular finance type in 2023

61%

of smaller businesses viewed current trading conditions as presenting more threats than opportunities

 Equity finance decline shows signs of stabilisation

25%

of businesses in the UK’s most deprived areas have an ambition to be significantly larger, compared to 40% elsewhere

7%

increase in UK equity deals in Q1 2024 from Q1 2023, suggesting the decline in activity is stabilising  

British Business Bank remains committed to helping to reduce regional imbalances

 

£388 million in funding

has been provided through the Bank’s geographically focused funds in 2023 

£441 million in investment

has been facilitated by the Bank’s Regional Angels Programme in the same period.