British Business Bank and Scaleup Institute Launch Regional Education Programme in Scaleup Week.
Nationwide Information & Education Programme
A nationwide information and education programme on growth finance for scaleup business leaders and the professional advisory community is being launched in Scaleup Week by the British Business Bank in partnership with the ScaleUp Institute.
Starting this month, the series of seminars and education events for scaleup business leaders and their professional advisers aims to increase the flow of information and to raise awareness and understanding of all the finance options available to scaleups. In total, 24 events will be held between May to October 2021, covering all regions and the devolved nations.
Although scaleups are far more likely to use external finance than their SME peers – with 84% of scaleups using external funding as part of their growth strategy – it is still the case that four in ten scaleups do not feel they have access to the right funding for their needs. Perceptions of regional disparities also persist, with four in ten scaleups continuing to feel that the majority of growth funding resides in London and the South East.
The new programme includes detailed seminars on growth capital run with the British Business Bank’s UK Network Team in partnership with the ScaleUp Institute, along with case studies and opportunities for scaleup businesses to engage directly with experts.
The objective of the programme is to ensure that scaleup leaders are fully aware of all the available finance options as they make choices about their growth, and that their advisers and local ecosystems have up-to-date and comprehensive information to help them provide local scaleups with appropriate tailored solutions.
Small Business Minister Paul Scully said: “Ensuring businesses of every size and shape can benefit from world-leading expertise to help them grow will be a key part of this Government’s vision for levelling up the whole of the country.
“This joint initiative between the British Business Bank and the ScaleUp Institute to deliver a series of regional finance education activities is important as we seek to ensure scaleups are connected to the right growth capital at the right time.”
Irene Graham OBE, Chief Executive, ScaleUp Institute, said: “Finance has risen in importance for scaleup businesses in the last year, and it is vital that clear routes are provided for them to access the funding they need. Our research has shown that despite the pandemic scaleups are continuing to invest, innovate and create new jobs in local areas across the whole of the UK. Enabling them to find
the right finance and growth capital to fuel their growth is essential. We are pleased to be partnering with the British Business Bank on this important initiative.”