Debt Funds Evaluation report 2025

SQW, in collaboration with Beauhurst, Professor Nicholas Wilson from Leeds University Business School, Professor Robyn Owen from Enterprise, Environment and Development Research (CEEDR) at Middlesex University and Qa Research, was commissioned by the British Business Bank to undertake an interim evaluation of UK Debt Funds. The evaluation sought to assess the delivery, performance and emerging impacts of the programme, and anticipated value for money.

Key findings of the report include:

• The Debt Funds programme improves access to debt finance for smaller businesses across the UK
• Half of funds would not have secured other capital in the absence of the programme
• Evidence of substantial impact on employment, creating c. 1,400 additional jobs
• Early indications suggest strong returns for the British Business Bank