British Business Bank names Belfast top authority for start ups in NI

Start Up Loans, part of the British Business Bank, has named the top local authorities for start ups across the UK, based on the number of Start Up loans successfully drawn down since 2012 by borrowers in their areas in comparison to other local authorities.

Belfast was found to be the top local authority for start ups in Northern Ireland, with 219 Start Up loans successfully drawndown since 2012, representing one in every thousand local adults.

This coincides with the beginning of Business Finance Week 2022 (November 7-11), hosted by the British Business Bank and business support partners from across the UK.

Louise McCoy, commercial director, Start Up Loans, said: “It’s wonderful to see Belfast recognised in Northern Ireland for its contribution to entrepreneurship.

"I’m always inspired by the stories of small business owners who have used the Start Up Loans programme to take the leap into business ownership.

"Northern Ireland has an ever growing pool of diverse small businesses and I’m pleased to see that, with the help of Start Up Loans, they’re able to access the finance they need to grow and contribute to the local economy.”

Since its inception in 2012, the Start Up Loans scheme has delivered almost 98,000 loans, providing more than £913m of funding.

In the financial year 2021/22, the scheme provided 12,433 loans with a total value of approximately £152.4m.