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British Business Bank marks decade of 'transformative impact' on north's economy

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Report shows bank has supported 6,000 NI businesses, created 4,000 jobs and generated £2bn in additional turnover
The British Business Bank has significantly impacted the North of England's economy over the past decade by investing over £1.4 billion in 1,300 businesses, which has helped create and safeguard over 10,000 jobs. This investment has been channeled through various programs like the Northern Powerhouse Investment Fund (NPIF) and the Recovery Loan Scheme, focusing on supporting small and medium-sized enterprises (SMEs) in regions like the North East, North West, and Yorkshire and the Humber. The Bank's efforts have not only provided financial support but also fostered innovation, growth, and resilience among local businesses, contributing to a more balanced economic growth across the UK. Key highlights include the support for companies like Advanced Manufacturing (Sheffield) Ltd, which has seen substantial growth, and the overall aim to address regional economic disparities by enhancing access to finance for businesses in less advantaged areas.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/british-business-bank-marks-decade-of-transformative-impact-on-north-s-economy/ar-AA1xE39z ]