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£5m of Start Up Loans benefits Hull’s smaller businesses

Press release 18 May 2026

  • The British Business Bank’s Start Up Loans programme has delivered 639 loans across the Kingston upon Hull local authority
  • 36% of businesses supported are female-founded
  • Nearly half (43%) of 18–24-year-old recipients in Hull were classed as NEET before receiving a Start Up Loan

The British Business Bank’s Start Up Loans programme has injected more than £5m into Hull’s start-up business community since its launch. This boost came from 639 loans issued to local entrepreneurs, giving them the financial backing they need to launch and grow their ventures. As well as financial backing the programme also offers post loan support, such as mentoring.

The Start Up Loans programme has a focus on uplifting diversity and supporting groups traditionally underrepresented in accessing business finance. In Hull, female founders accounted for 36% of all loan recipients, while people aged 18–24 made up 19% of those supported.

The programme has also had a significant impact on helping people in the area return to work. More than a quarter (28%) of loan recipients were unemployed before launching their businesses. The effect is even more pronounced among young people, with nearly half (43%) of 18–24-year-olds supported through the programme classed as NEET (Not in Education, Employment or Training). This demonstrates how the programme is helping young people who may otherwise have struggled to find a foothold in work to build their own future through entrepreneurship.

Synclair’s Florist, based in Hull, received a £12,000 loan via Start Up Loans’ Business Support Partner, Business Enterprise Fund, to help cover the deposit on its first premises and purchase initial stock. After working on a flower stand for many years, owner Jayne saw first-hand the growing demand for house plants and floral arrangements, inspiring her to set up her own floristry.

Synclair’s Florist now sells everything from bespoke flower arrangements to unusual houseplants from around the world. With over three decades of experience in the industry, Jayne also offers advice on plant care.

Jayne Synclair, founder of Synclair’s Florist, said:

I’ve worked in floristry most of my life but opening my own shop still felt like a big leap. The Start Up Loan gave me the confidence to just go for it and so we took on an old butcher’s unit and transformed it into a bright, colourful florist in just a few weeks. It feels great to be part of the flourishing small business ecosystem here in Hull and to see customers coming in who are just as passionate about plants as I am.

Small Business Minister, Blair McDougall, said:

The government is determined to unlock the UK’s immense growth potential and that means ensuring entrepreneurs can access the finance they need including through the Start Up Loans programme.

This is an impressive milestone for the programme which has supported entrepreneurs and businesses in Hull, boosting the local economy and raising living standards.

Louise McCoy, Managing Director, Start Up Loans Products, British Business Bank, said:

The Start Up Loans programme is having a fantastic impact supporting new businesses across Hull, helping people into work and strengthening the city’s entrepreneurial community.

I’m particularly proud of the number of young founders we’ve been able to support, especially those who were previously classed as NEET. It shows how the programme is opening doors for people who often face the toughest barriers to getting started, providing them with a new route into employment.

Further Information

If you are a journalist and have a media enquiry, please contact [email protected].

Notes to editors

About Start Up Loans

The Start Up Loans programme provides personal loans for business purposes of up to £25,000 at a fixed interest rate per annum and offers free dedicated mentoring and support to each business. Eligibility for a first Start Up Loan is being extended to businesses that have been trading for up to 60 months.

The primary aim of the Start Up Loans programme is to ensure that viable start-ups and early-stage businesses have access to the finance and support they need in order to thrive. A network of Business Support Partner organisations supports applicants in all regions and industries throughout the UK. The Start Up Loans programme is not designed to generate a commercial profit. Capital payments together with the interest are recycled to help meet increasing demands for finance.

Free guides on a range of subjects related to starting a business are available on the Start Up Loans website. You can find recent media press releases here.

The funding for the Start Up Loans programme is provided by the Department for Business and Trade (DBT). The Start Up Loans programme is operated by The Start-Up Loans Company, a company limited by guarantee, registered in England and Wales, registration number 08117656, registered office at Steel City House, West Street, Sheffield, S1 2GQ. The Start-Up Loans Company is a wholly owned subsidiary of British Business Bank plc which is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at british-business-bank.co.uk.

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