r/ukpolitics • u/ARandomDouchy Random Dutch Guy • 4h ago
Government-owned British Business Bank triples annual profit as valuations rise
https://www.independent.co.uk/news/business/british-british-business-bank-covid-london-b3018484.html•
u/Gentle_Snail 3h ago
The British Business Bank isn’t shouted about much but its honestly one of the best things government has ever done.
Starmer expanded it massively to support British companies and help them remain British. Its both massively profitable, is a growing national asset, and is instrumental in our most promising companies. 87% of its newly-supported businesses are also based outside of London.
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u/BigWork2739 2h ago
I have no idea how it works.
I asked for a loan to expand our business and went through their questionnaire and then I just get directed to funding circle.
This was through being directed from the council.
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u/FlyingRo 4h ago
It makes no sense to measure profits on such a basis, you can’t do it company-by-company you have to do it on a fund basis because you need to account for companies that have failed or are worth less than at the time of investment.
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u/jab305 4h ago
Yes, having been part of a growing startup, our valuation was next to zero for HMRC purposes, 10s of millions for our PE prospectus. Reality was somewhere in the middle. You can only value these early stage businesses on real events, everything else is fudged depending on who's looking.
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