BGF commits three billion pounds in investments for UK businesses
Barclays-founded BGF has outlined a three billion pound commitment to invest in high-potential UK businesses as it looks to scale support for growth in early-stage firms.
Over the next five years, the firm, which has previously invested in fashion brands like Seasalt and Strathberry, wishes to back British businesses to help drive their success, the company's chief executive officer, Andy Gregory, said in a release.
He continued: 'BGF is an investment platform built to solve a hard problem. With our platform advantage, we've proven we can deploy scaleup capital into a broad base of UK businesses, in a way that is commercially rigorous, regionally inclusive, and can help businesses grow in all conditions.
'Few investors have the nationwide reach to deploy capital at the scale required to make a meaningful difference to the UK's scaleup landscape, and this next phase is about leveraging our platform advantage to unlock even greater impact for UK plc.'
As part of the pledge, BGF is dedicating 300 million pounds of the fund to supporting female-powered businesses, an extension of its prior 25 million pound commitment to the Invest in Women Taskforce initiative.
In her own statement, Debbie Wosskow, co-chair of the Invest in Women Taskforce, said the investment is 'one of the largest ever made in the UK'. She added: 'It marks a turning point in how we back women-led enterprise and is exactly the kind of action that can start to reshape our business landscape for the better.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
15 minutes ago
- The Guardian
Liz Truss hits back at Tory shadow chancellor for mini-budget disavowal
Liz Truss has hit out at the Conservatives' shadow chancellor after he formally disowned her hastily reversed 2022 mini-budget, saying it had damaged the party's reputation for economic competence. The former prime minister labelled Mel Stride a 'creature of the system', part of a failed fiscal orthodoxy which, she argued, would prevent the Conservatives taking power again if left unchallenged. Stride's insistence at a speech in London that 'never again' would the Conservatives offer up a largely unfunded package of tax cuts is the first time that the party hierarchy under its leader, Kemi Badenoch, has definitively cut itself off from Truss, who lasted just 49 days in power. One Tory shadow minister said the impetus for Stride's speech was in part to allow the Conservatives to attack Reform UK's lavish programme of tax cuts as being a potential re-run of the Truss debacle, as Keir Starmer did last week. In his speech, Stride labelled Reform's economic policies 'pure populism'. He added: 'They would plough ahead with huge additional welfare spending, as well as tax cuts, with no plan for how to pay for any of it.' Addressing Truss's September 2022 fiscal plans, which involved about £45bn in unfunded tax cuts, he said: 'For a few weeks, we put at risk the very stability which Conservatives had always said must be carefully protected. 'Back then mistakes were recognised and stability restored within weeks, with the full backing of our party. But the damage to our credibility is not so easily undone. That will take time. And it also requires contrition. So let me be clear: never again will the Conservative party undermine fiscal credibility by making promises we cannot afford.' Truss released a statement that called Stride 'one of the Conservative MPs who kowtowed to the failed Treasury orthodoxy and was set on undermining my plan for growth from the moment I beat his chosen candidate for the party leadership [Rishi Sunak]'. She added: 'Until Mel Stride admits the economic failings of the last Conservative government, the British public will not trust the party with the reins of power again.' In a later tweet, she again took aim personally at Stride, calling him 'a creature of the system' who, when the pair were both Treasury ministers under Theresa May, 'always went along with officials'. In his speech, Stride also urged people to have patience with Badenoch's leadership, saying: 'She will get better through time at the media. She will get better through time at the dispatch box at PMQs. Sign up to First Edition Our morning email breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion 'Just as Margaret Thatcher, when she became leader in '75, was often criticised for everything from her hair to the clothes she wore to the pitch of her voice to heaven knows what else, in the end she got it together and Kemi will do absolutely that.' The Conservatives currently poll in third place behind Reform UK and Labour, with a YouGov poll published on Wednesday showing the Tories on 18%, just one point ahead of the Liberal Democrats. Badenoch's own favourability ratings have also fallen since she became party leader, reaching -27% according to a More in Common poll carried out last weekend.
Leader Live
16 minutes ago
- Leader Live
Fact check: More people leave than arrive on current youth mobility schemes
Asked 'how do you know there will be fewer people coming here than leaving?' Mr Reynolds said: 'Well, I've got 13 schemes in action already and that's the evidence of them.' He later added: 'I tell you the evidence of the current schemes just so you know is that they're a net negative on immigration.' Around 24,400 youth mobility visas were issued to people wanting to come to the UK in 2024. Although figures are patchy for how many Britons go abroad, data from just three countries – Australia, New Zealand and Canada – suggests that 68,495 British citizens travelled to those countries in 2024 (the Australian data is for the 12 months to the end of June 2024). That would suggest that Mr Reynolds is right. However it does not take into account that Britons going abroad on these temporary visas will sooner or later come back, as will those who come to the UK. It is also not clear that this pattern will repeat in any similar deal with the EU. The UK population is much larger than those of Australia, New Zealand and Canada, so there are more Britons who can go to those countries than can come here. With the EU that is reversed. How many people come to the UK on a youth mobility visa? Government data shows there were 24,437 people who were handed a youth mobility visa last year. Most of these were from one of the 13 countries with which the UK has a reciprocal arrangement. A small handful of visas – 131 in total – were for people from countries other than the 13. The Migration Observatory at the University of Oxford has suggested that these are the result of errors in data recording, or due to people having dual nationalities. The top three countries that sent people to the UK on youth mobility visas between January and December 2024 were Australia (9,754 visas), New Zealand (4,304 visas) and Canada (3,060 visas). How many Britons go abroad on youth mobility type schemes? Figures are patchy on how many British people have gone abroad on a youth mobility scheme. The Department for Business and Trade was unable to share data. Australia publishes a twice-yearly report into what it calls its working holiday visa programme. That is the Australian equivalent to the UK's youth mobility scheme. The latest such report covered the 12 months to the end of June 2024. That report showed that Australia issued 48,973 working holiday visas to UK citizens. Data from New Zealand is available on the website of the Ministry of Business, Innovation and Employment. Using its migration data explorer produces a spreadsheet which shows that there were 9,486 working holiday visas granted by New Zealand to UK citizens in between January and December 2024. Canadian data does not appear to be publicly available, but the figures were provided to the PA news agency by the Canadian Department for Immigration, Refugees and Citizenship. The data shows that in 2024 there were 9,972 work permits issued to UK and UK overseas territories citizens under the country's working holiday scheme, and a further 64 people had their permits extended. How do incoming youth mobility visas compare to outgoing? Net migration is a figure which subtracts the number of people coming into the country from the number of people leaving. The data cited above suggests that while 9,754 Australians came to the UK on youth mobility visas, 48,973 Britons went in the opposite direction. It must be noted that the time periods measured here are different, the Australian data is for the 12 months ending June 2024, while the UK data is for the 12 months ending December 2024. Meanwhile the data suggests that 4,304 New Zealanders came to the UK while 9,486 Britons went in the other direction. Data further shows that 3,060 Canadians came to the UK in 2024, while 9,972 Britons went in the other direction. This suggests that for each of these three countries the youth mobility schemes are – as Mr Reynolds suggested – reducing net migration. In fact Australia alone appears to receive twice as many Britons (48,973) as all people who the UK receives from all 13 countries added together (24,437). However, it should be noted that because youth mobility schemes are time-limited, Britons going abroad and people who have come to the UK on such visas will eventually be forced to return. This means the UK's inbound migration figures should take into account not just Australians and Canadians – for example – coming to the UK, but also Britons returning from Australia and Canada after their youth mobility visas expire. If it is assumed that everyone returns then over a longer time frame the youth mobility programmes will have a neutral impact on net immigration because every Briton who leaves the UK will come back and every non-Briton who comes to the UK will leave. This does not take into account the people – both Britons abroad and non-Britons in the UK – who apply for a different visa to stay in their adopted country. Do these conclusions also apply to the EU scheme? The impact on net migration of the potential EU scheme will depend on the details of the agreement between London and Brussels. Madeleine Sumption, director at the Migration Observatory, told the PA news agency that the size of the cap on the programme would be vital for the impact on net migration. She said the fact the UK sends more people to Australia, Canada and New Zealand than it receives from them 'probably results from the fact that the UK has a much larger population than they do, so we just have more young people potentially interested in moving'. With the EU scheme, Ms Sumption said, the population sizes are flipped – that is to say the EU's population is much bigger than the UK, leaving more young people who might be willing to come here. Therefore the smaller the cap on the number of visas is, the more likely both the EU and UK will fill their quotas. If both fill their quotas – and the quotas going both ways are the same – then the impact on net migration will be zero. However if the cap is large then it is more likely that there will not be as many Britons going to Europe as are coming in the opposite direction, which will bring up net migration. But, as with the existing schemes, both Britons in Europe and Europeans in the UK will eventually have to leave unless they find another visa, which over the long run should mean that the programme has a neutral impact on net migration. BBC – Today, 19/05/2025 Migration Observatory – What is the Youth Mobility Scheme and how does it work? (archived) – Entry clearance visas granted outside the UK (archived page and spreadsheet, using tab Data_Vis_D02) Australian Department of Home Affairs – Visitor visa statistics (archived) Australian Department of Home Affairs – Working Holiday Maker visa program report (archived) New Zealand Ministry of Business, Innovation and Employment – Migration data explorer (archived page and downloaded spreadsheet. To download the correct spreadsheet, instructions can be found at (archived): In dataset select 'W1 work decisions', in time period select 'calendar year' and in variables select 'application substream', 'application criteria' and 'decision type') Canadian data provided to PA news agency (archived) Madeleine Sumption profile (archived)
South Wales Argus
20 minutes ago
- South Wales Argus
Fact check: More people leave than arrive on current youth mobility schemes
Asked 'how do you know there will be fewer people coming here than leaving?' Mr Reynolds said: 'Well, I've got 13 schemes in action already and that's the evidence of them.' He later added: 'I tell you the evidence of the current schemes just so you know is that they're a net negative on immigration.' Evaluation Around 24,400 youth mobility visas were issued to people wanting to come to the UK in 2024. Although figures are patchy for how many Britons go abroad, data from just three countries – Australia, New Zealand and Canada – suggests that 68,495 British citizens travelled to those countries in 2024 (the Australian data is for the 12 months to the end of June 2024). That would suggest that Mr Reynolds is right. However it does not take into account that Britons going abroad on these temporary visas will sooner or later come back, as will those who come to the UK. It is also not clear that this pattern will repeat in any similar deal with the EU. The UK population is much larger than those of Australia, New Zealand and Canada, so there are more Britons who can go to those countries than can come here. With the EU that is reversed. The facts How many people come to the UK on a youth mobility visa? Government data shows there were 24,437 people who were handed a youth mobility visa last year. Most of these were from one of the 13 countries with which the UK has a reciprocal arrangement. A small handful of visas – 131 in total – were for people from countries other than the 13. The Migration Observatory at the University of Oxford has suggested that these are the result of errors in data recording, or due to people having dual nationalities. The top three countries that sent people to the UK on youth mobility visas between January and December 2024 were Australia (9,754 visas), New Zealand (4,304 visas) and Canada (3,060 visas). How many Britons go abroad on youth mobility type schemes? Figures are patchy on how many British people have gone abroad on a youth mobility scheme. The Department for Business and Trade was unable to share data. Australia publishes a twice-yearly report into what it calls its working holiday visa programme. That is the Australian equivalent to the UK's youth mobility scheme. The latest such report covered the 12 months to the end of June 2024. That report showed that Australia issued 48,973 working holiday visas to UK citizens. Data from New Zealand is available on the website of the Ministry of Business, Innovation and Employment. Using its migration data explorer produces a spreadsheet which shows that there were 9,486 working holiday visas granted by New Zealand to UK citizens in between January and December 2024. Canadian data does not appear to be publicly available, but the figures were provided to the PA news agency by the Canadian Department for Immigration, Refugees and Citizenship. The data shows that in 2024 there were 9,972 work permits issued to UK and UK overseas territories citizens under the country's working holiday scheme, and a further 64 people had their permits extended. How do incoming youth mobility visas compare to outgoing? Net migration is a figure which subtracts the number of people coming into the country from the number of people leaving. The data cited above suggests that while 9,754 Australians came to the UK on youth mobility visas, 48,973 Britons went in the opposite direction. It must be noted that the time periods measured here are different, the Australian data is for the 12 months ending June 2024, while the UK data is for the 12 months ending December 2024. Meanwhile the data suggests that 4,304 New Zealanders came to the UK while 9,486 Britons went in the other direction. Data further shows that 3,060 Canadians came to the UK in 2024, while 9,972 Britons went in the other direction. This suggests that for each of these three countries the youth mobility schemes are – as Mr Reynolds suggested – reducing net migration. In fact Australia alone appears to receive twice as many Britons (48,973) as all people who the UK receives from all 13 countries added together (24,437). However, it should be noted that because youth mobility schemes are time-limited, Britons going abroad and people who have come to the UK on such visas will eventually be forced to return. This means the UK's inbound migration figures should take into account not just Australians and Canadians – for example – coming to the UK, but also Britons returning from Australia and Canada after their youth mobility visas expire. If it is assumed that everyone returns then over a longer time frame the youth mobility programmes will have a neutral impact on net immigration because every Briton who leaves the UK will come back and every non-Briton who comes to the UK will leave. This does not take into account the people – both Britons abroad and non-Britons in the UK – who apply for a different visa to stay in their adopted country. Do these conclusions also apply to the EU scheme? The impact on net migration of the potential EU scheme will depend on the details of the agreement between London and Brussels. Madeleine Sumption, director at the Migration Observatory, told the PA news agency that the size of the cap on the programme would be vital for the impact on net migration. She said the fact the UK sends more people to Australia, Canada and New Zealand than it receives from them 'probably results from the fact that the UK has a much larger population than they do, so we just have more young people potentially interested in moving'. With the EU scheme, Ms Sumption said, the population sizes are flipped – that is to say the EU's population is much bigger than the UK, leaving more young people who might be willing to come here. Therefore the smaller the cap on the number of visas is, the more likely both the EU and UK will fill their quotas. If both fill their quotas – and the quotas going both ways are the same – then the impact on net migration will be zero. However if the cap is large then it is more likely that there will not be as many Britons going to Europe as are coming in the opposite direction, which will bring up net migration. But, as with the existing schemes, both Britons in Europe and Europeans in the UK will eventually have to leave unless they find another visa, which over the long run should mean that the programme has a neutral impact on net migration. Links BBC – Today, 19/05/2025 Migration Observatory – What is the Youth Mobility Scheme and how does it work? (archived) – Entry clearance visas granted outside the UK (archived page and spreadsheet, using tab Data_Vis_D02) Australian Department of Home Affairs – Visitor visa statistics (archived) Australian Department of Home Affairs – Working Holiday Maker visa program report (archived) New Zealand Ministry of Business, Innovation and Employment – Migration data explorer (archived page and downloaded spreadsheet. To download the correct spreadsheet, instructions can be found at (archived): In dataset select 'W1 work decisions', in time period select 'calendar year' and in variables select 'application substream', 'application criteria' and 'decision type') Canadian data provided to PA news agency (archived) Madeleine Sumption profile (archived)
