Modern Slavery Act Statement
This statement is made pursuant to section 54 of the Modern Slavery Act (the “Act”) and constitutes the modern slavery and human trafficking statement of the British Business Bank plc (“BBB”) and its subsidiaries, British Business Investments Limited and the Start-up Loans Company Limited for the financial year ended 31 March 2018. References to “we”, “us” and “our” are to all of these companies and references to the “BBB Group” are to the BBB and its subsidiaries.
The BBB Group is committed to abolition of modern slavery and human trafficking by creating a culture of transparency in relation to the supply of goods and services it receives. We have done this by embedding a culture of transparency and openness in our business and supply chains.
The BBB Group has a centralised procurement function that operates in accordance with our procurement policy. This sets out the requirements for the BBB Group when procuring goods and services. We have established an internal working group to help Identify where risks of modern slavery may exist and incorporated the management of those risks within our procurement process. Following the introduction of the Act and the conclusions of the working group, we revised our procurement policy to reflect our expectation that our suppliers are taking appropriate steps to comply with the Act.
We have been raising awareness of modern slavery and human trafficking within the BBB Group and will be providing training on modern slavery for all our employees. We encourage any employees who do identify potential modern slavery issues within our business or supply chain to report their concerns including via our whistle-blowing policy to our Modern Slavery Champion.
We will continue to work to raise awareness of modern slavery within the BBB Group by reviewing and evaluating the measures and processes that we have implemented so far to ensure their effectiveness. We will work with our suppliers and review our processes with our delivery partners to identify any additional measures we can take as a business to combat modern slavery and human trafficking.
This statement, which will be reviewed annually and updated as required, has been reviewed and approved by the Board of Directors of British Business Bank plc on 12 July 2018.
Chief Executive Officer