What is the BBF?
Better Business Finance provides impartial information and support to businesses and entrepreneurs looking to develop and grow; whether the business is seeking finance, or starting out or exporting abroad, BBF is here to help.
It was set up by Barclays, HSBC, RBS, Lloyds and Santander in 2011 and is managed by UK Finance in collaboration with its business and finance partners.
BBF was created to bring to life the recommendations of the Business Finance Taskforce, which was set up by the major banks to work together to help support the UK’s small and medium-sized businesses who are vital to our economy .
What are the BBF’s objectives
Better Business Finance has three core themes at its heart:
- Improving customer relationships by providing mentoring support, along with information on exactly what help and what finance is available, and by working with Professor Russel Griggs on the appeals programme
- Improving access to finance, including creating new finance options like the Business Growth Fund, and building strategic partnerships with finance organisations such as Business Angels and CDFIs, with whom the banks run a referral process for when traditional bank finance is not appropriate.
- Improving transparency, which includes helping businesses, explaining processes, listening and working with partners to improve service delivery in banks. This theme also includes conducting and commissioning research to help inform business policy and banking services