Government backs entrepreneurs across the UK with £600 million of Start Up Loans outside London

Milestone for government-backed loans provided to businesses outside capital, helping them to create jobs, expand and level up.

The government’s Start Up Loans scheme has provided £600 million in loans to businesses outside London, delivering extensive support for entrepreneurship across the UK’s home nations and regions.

Loans have gone to a huge range of companies, including businesses making vegan bags in Yorkshire, bespoke wooden furniture in Northern Ireland and rum cakes in the Lake District.

Businesses and entrepreneurs in the North West of England received the most loans outside London, totalling over £94 million, with those in the South East receiving over £81 million, followed by Yorkshire & The Humber with over £68 million.

Aspiring business owners receive up to £25,000 through the Start Up Loans scheme, run by the British Business Bank, delivering support that they may have otherwise struggled to get through a commercial bank loan. The scheme also provides mentoring to those starting their business venture, and offers extensive support to women entrepreneurs, entrepreneurs from ethnic minority backgrounds and the previously unemployed.

These figures reflect the UK’s wide-ranging and diverse entrepreneurial spirit and highlight the success of the programme in providing support to business owners of all backgrounds, regardless of where in the country they are based or what sector they’re in, as the government levels up opportunity across the UK.

Small Business Minister Paul Scully said: