The British Business Bank has appointed a new Scottish representative, with senior manager Barry McCulloch spearheading its presence north of the border.
He takes over from Ian Mitchelmore, who is stepping down due to retirement.
Previously head of policy at the Federation of Small Business, McCulloch spent nearly a decade within the organisation’s policy division.
Representing the British Business Bank in Scotland, he will work with funding delivery partners, business development agencies and other organisations across the small business finance ecosystem to improve access to financial support.
As part of the UK network team, McCulloch's remit also includes working with local finance markets to shape the British Business Bank’s support for smaller businesses and inform government policy.
He said: “The British Business Bank has an important role to play in helping smaller businesses to grow and prosper – particularly in Scotland where 99% of our businesses are small and medium sized enterprises.
“Access to finance is critical to economic recovery especially as the nation’s smaller businesses face into external challenges including rising inflation, labour shortages and the lasting effects of the global pandemic.
“I’m looking forward to continuing to work closely with Scotland’s small business community, by providing them with access to independent and impartial information on the different types of finance available and reducing some of the imbalances that exist in access to finance across the UK.”
Mark Sterritt, UK network director for Scotland at the British Business Bank, added: “There is a great deal of potential for growth and further development among Scotland’s smaller businesses – we look forward to working with Barry to help entrepreneurs and founders to realise that ambition through improved access to finance.”
At last October’s Spending Review, the government announced its plans for spending over the next three years, from 2022/23. This includes a number of measures to support smaller businesses, to be delivered by the British Business Bank, including £150m to provide a new fund for Scottish businesses.
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