BBI Chair Francis Small

"We have a Board and governance structure designed to protect our commercial approach and which enables us to move quickly in investment decision-making."

Francis Small, Chair

Managing Our Risks and Corporate Structure

British Business Investments operates within the Risk Management Framework of the British Business Bank and the Board has separate subcommittees and its own investment committee.

This page provides a summary of our corporate governance arrangements. Expand the categories in the section below to find out more.

Managing Our Risks and Corporate Structure

Our Corporate Structure Explained

British Business Bank PLC (company number 08616013) reports into the UK Government and the Department for Business, Energy & Industrial Energy (BEIS)

There are 3 main subsidiaries of the British Business Bank, they are:

  • BBB Patient Capital Holdings Limited, company number 11270966
  • British Business Financial Services Ltd, company number 11271076
  • British Business Finance Ltd, company number 09091928

BBB Patient Capital Holdings Limited

BBB Patient Capital Holdings Limited is made up of two subsidiaries

  • British Business Investments Ltd, company number 09091930
  • British Patient Capital Ltd, company number 11271076

British Business Finance Ltd

British Business Finance Ltd is made up of three subsidiaries

  • The start-up loans company, company number 08117656
  • Capital for Enterprise Limited, company number 06179047, which is also made up of two subsidiaries
    • Capital for Enterprise Fund Managers Limited, company number 06826072
    • Capital for Enterprise (GP) Limited, company number SC354499
  • British Business Aspire Holdco Ltd, company number: 09263859
Managing Our Risks and Corporate Structure

Our Corporate Structure Explained

British Business Bank PLC (company number 08616013) reports into the UK Government and the Department for Business, Energy & Industrial Energy (BEIS)

There are 3 main subsidiaries of the British Business Bank, they are:

  • BBB Patient Capital Holdings Limited, company number 11270966
  • British Business Financial Services Ltd, company number 11271076
  • British Business Finance Ltd, company number 09091928

BBB Patient Capital Holdings Limited

BBB Patient Capital Holdings Limited is made up of two subsidiaries

  • British Business Investments Ltd, company number 09091930
  • British Patient Capital Ltd, company number 11271076

British Business Finance Ltd

British Business Finance Ltd is made up of three subsidiaries

  • The start-up loans company, company number 08117656
  • Capital for Enterprise Limited, company number 06179047, which is also made up of two subsidiaries
    • Capital for Enterprise Fund Managers Limited, company number 06826072
    • Capital for Enterprise (GP) Limited, company number SC354499
  • British Business Aspire Holdco Ltd, company number: 09263859
 
three office workers in a meeting room

A full description of the Risk Management Framework of the British Business Bank is included within their Annual Report. The main aspects of the framework are:

  • A collection of tools, processes and methodologies to identify, assess, monitor and control risks.
  • A Risk Appetite Policy which British Business Investments is subject to, however the British Business Investment’s Board approves the company’s own Risk Appetite Statement.
  • Risk governance based on the ‘three lines of defence’ model.
  • A wide range of policies, frameworks and procedures which take account of regulatory or legal requirement and industry best practice.

The key operational risks the company is exposed to are:

  • Maintaining a suitably qualified investment team and Board to deliver the company’s investment strategy.
  • Ensuring systems and processes support investment decision making, reporting and portfolio management.
  • Procuring appropriate support across a range of services from the British Business Bank including: finance, legal, risk, IT and marketing.

The key financial risks the company is exposed to are detailed in note 13(iii) of the accompanying financial statements.

British Business Bank plc is the ultimate parent of British Business Investments Limited and the policies and procedures that apply to the British Business Bank also apply to British Business Investments (the trading name of British Business Bank Investments Limited).

The British Business Investment’s constitution consists of its Articles of Association and a shareholder relationship framework document between British Business Investments Limited and the British Business Bank plc (the ‘Framework Document’). It sets out, among other things, British Business Investment’s role within the group including the responsibilities of Board of Directors and the relationship between British Business Investments and the British Business Bank.

Download the shareholder relationship framework document

Our Shareholder Framework Document requires that no more than one-third of the Board may consist of members of the British Business Bank Board.
It also provides that the consents of both the British Business Bank and Department for Business, Energy, and Industrial Strategy (BEIS) are required prior to the appointment of any new directors to the Board where the appointee is external.

The CEO of the British Business Bank, as Accounting Officer, has direct accountability to British Business Investments ultimate shareholder, BEIS, and sits on the Board of British Business Investments Ltd. Responsibilities of an Accounting Officer include responsibility for the propriety and regularity of the public finances for which the Accounting Officer is answerable, keeping proper records and safeguarding British Business Bank Investments assets.

As a major subsidiary of British Business Bank plc, British Business Investments Ltd comes within the remit of the British Business Bank’s Nomination and Remuneration Committees. To ensure effective governance each committee has its own terms of reference.

Terms of Reference for the Nomination Committee

Terms of Reference for the Remuneration Committee of British Business Bank plc

British Business Investments Limited Terms of Reference – Investment Committee

As a major subsidiary of British Business Bank plc, British Business Investments Ltd comes within the remit of the British Business Bank’s Nomination and Remuneration Committees. To ensure effective governance each committee has its own terms of reference.

Terms of Reference for the Nomination Committee

Terms of Reference for the Remuneration Committee of British Business Bank plc