What is Better Business Finance?
The Better Business Finance website provides impartial information about commercial finance to businesses, entrepreneurs and their partners. Whether the business is starting up, looking to develop and grow, 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.
Better Business Finance was originally created to bring to life the recommendations of the Business Finance Taskforce, 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.
There are three core objectives at the heart of Better Business Finance:
- Improving transparency and understanding, which includes helping businesses, explaining processes and working with partners to improve service delivery in banks.
- Improving customer relationships by signposting to mentoring and support, types of finance and the appeals programme
- Improving access to finance, including creating new finance options and building strategic partnerships with finance providers including Business Angels and CDFIs, with whom the banks run a referral process for when traditional bank finance is not appropriate.