British Business Investments (BBI) has extended a significant financial boost to UK smaller enterprises through a £25 million facility agreement with Shire, encompassing both Shire Leasing and Shire Securities. This strategic move aims to enhance asset finance solutions for businesses in agriculture, business services, manufacturing, and construction. The initiative underscores BBI's commitment to supporting independent operators in the asset finance sector, fostering broader access to essential financial resources. With a decade-long successful partnership between BBI and Shire Leasing, this new investment is expected to further strengthen Shire’s capabilities and expand its lending portfolio, which has grown from £50 million ten years ago to over £225 million today. Additionally, Shire's recent acquisition of Shire Securities in March 2024 will bolster its ability to provide comprehensive financial support to UK small and medium-sized enterprises (SMEs).

The collaboration between British Business Investments and Shire represents a pivotal step in advancing the financial landscape for UK SMEs. Over the past decade, Shire Leasing has established itself as a leading independent finance provider, significantly expanding its portfolio. The company's growth trajectory exemplifies its dedication to serving smaller businesses effectively. By offering tailored asset finance solutions, Shire has enabled numerous enterprises to acquire necessary assets and scale their operations. The newly announced £25 million facility not only underscores BBI's confidence in Shire's capabilities but also highlights the importance of diversifying finance options for SMEs. Jonathan Marriott, senior director at British Business Bank Structured Financial Institutions Solutions, expressed satisfaction with this investment, emphasizing its role in supporting independent operators on a national scale.

Helen Lumb, managing director of Shire, highlighted the significance of this continued partnership. She noted that the new funding commitment reflects a shared vision of making finance more accessible across various sectors. The acquisition of Shire Securities marks a crucial development phase, poised to enhance Shire's lending capabilities and provide even greater support to smaller businesses. This expansion aims to help these enterprises secure the necessary funds to thrive in today's competitive market. The block discounting model, proven effective in widening finance choices, plays a vital role in achieving this goal. As Shire moves forward, it remains committed to empowering UK SMEs with robust financial solutions.

In addition to this milestone, BBI recently announced a £20 million funding facility for Sprk Capital, focusing on advanced funding for R&D tax credits and innovation grants. This broader approach demonstrates BBI's ongoing efforts to stimulate innovation and economic growth within the UK. The cumulative impact of these initiatives is set to create a more resilient and dynamic business environment, where SMEs can flourish with enhanced access to diverse financial resources. Through strategic partnerships and targeted investments, BBI continues to pave the way for sustainable business growth and development across various industries.