The British Business Bank has appointed a new Scottish representative to its UK Network team, with senior manager Barry McCulloch spearheading the bank’s presence north in Scotland.
McCulloch succeeds Ian Mitchelmore who is retiring.
British Business Bank plc is the UK government’s economic development bank.
At last October’s Spending Review, the UK government announced a number of measures to support smaller businesses to be delivered by the British Business Bank, including £150 million to provide a new fund for Scottish businesses.
“Previously head of policy at the Federation of Small Business, Barry is well known in Scotland’s business community having worked closely with entrepreneurs, smaller businesses, and a range of stakeholders,” said the bank.
“Barry spent nearly a decade within the organisation’s policy division, building significant knowledge and expertise around the financial and economic issues facing small businesses.
“Representing the British Business Bank in Scotland, Barry will work closely 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, Barry’s remit also includes working with local finance markets to shape the British Business Bank’s support for smaller businesses and inform government policy.
“Last year the Bank refreshed its mission in response to the climate emergency, with a focus on supporting access to finance that can help small businesses to achieve sustainable growth and net zero ambitions.”
McCulloch 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, Scotland, at the British Business Bank, said: “Barry is a great addition to the UK Network team, bringing a wealth of knowledge and first-hand experience of Scotland’s business landscape.
“He will help drive the Bank’s operations in Scotland and will be a key representative of the Bank on the ground.
“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.”