British Business Bank announces move to new offices in Sheffield’s Steel City House development

Press release 18 October 2017

The British Business Bank, the UK’s national economic development bank, today announces that it is moving to the newly-redeveloped Steel City House in Sheffield city centre at the end of October. The move comes following rapid expansion of the bank’s Sheffield operations since it became an independent plc in November 2014.

The Bank will occupy the top two floors of the newly-redeveloped premises, off West Street, which will provide a near-doubling of its current office space.

Our move to Steel City House reaffirms our commitment to Sheffield and the region more generally. The growth of the British Business Bank has created high-quality finance jobs in the city as we continue to meet our objectives of providing increased volumes and choice of finance for smaller businesses. Colleagues across the Bank are excited to be moving to this unique building, which speaks to both the history and the future of the Sheffield region. Keith Morgan British Business Bank CEO
Building an economy that works for all is an important part of our Industrial Strategy, which is creating the conditions for businesses of all types to start up and grow. The British Business Bank’s expansion in Sheffield will continue to grow the Northern Powerhouse, creating jobs and helping small businesses in the region get the access to finance they need to succeed. Margot James Small Business Minister

Further Information

Notes to editors

The move in numbers

Relative size of British Business Bank office space in Sheffield:

  • Foundry House (old premises): 5,800 sq.ft
  • Steel City House: 11,149 sq.ft

British Business Bank workforce expansion in Sheffield:

  • Head count March 2014: 40
  • Head count now: employees: 89

About the British Business Bank

The British Business Bank is the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity. Our remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.

British Business Bank programmes support more than £3.4bn of finance to more than 59,000 smaller businesses and participate in a further £5.8bn finance to small mid-cap businesses (as at year-end 2016-17).

As well as increasing both supply and diversity of finance for UK smaller businesses through its programmes, the Bank works to raise awareness of the finance options, including asset finance, available to smaller businesses.