Businesses funded by the government-backed Start Up Loans programme have helped create or support more than 249,000 jobs across the UK, according to data published today by the British Business Bank.
The programme has provided 140,000 loans to small businesses, amounting to more than £1.4bn. In 2025/26 it issued 11,520 loans, of which almost 700 went to hairdressing and beauty businesses. Hospitality, fitness, food and drink, and e-commerce businesses also featured prominently, according to the figures released by Start Up Loans.
Since 2012, 70 per cent of Start Up Loans finance has been delivered outside London and the South East, the programme said.
Younger and older founders
The data shows founders under 30 most commonly used their loans to launch customer-facing businesses such as fitness, hospitality and retail. Among under-30s, hairdressing and beauty accounted for 209 loans in 2025/26, online retail for 150 and fitness facilities for 128.
Older entrepreneurs were more likely to draw on professional expertise. Among founders aged 50 and over, there were 33 loans for software development and 32 for management consultancy.
Young entrepreneurs aged 18 to 24 have received more than £135m in Start Up Loan funding to date. Members of the Armed Forces community have received close to £70m from nearly 6,000 loans.
The 2026 ambassadors
The figures were released as the owners of 14 small businesses were named 2026 Start Up Loans Ambassadors, an annual initiative now in its 14th year that recognises founders who used a loan to turn a business idea into reality. Twelve represent the UK’s nations and regions.
The South East ambassador is Amelia Sweeney, 31, (pictured) who founded Ojas Saunas in 2024 after leaving a career in corporate real estate. The business provides outdoor sauna experiences from two permanent sites, alongside a mobile sauna offered for retreats, events and private hires.
Other ambassadors include Flyber, an East Midlands aerospace technology business developing carbon-fibre composite blades for drones and next-generation electric aircraft, and Period Harmony, a London business founded by Raminder Samra, 33. Its slow-release menthol patch is stocked by major UK retailers and is set to launch in the US through Walmart, according to the programme.
The cohort also includes Sea Sisters, a Dorset craft fish cannery whose founders appeared on Dragons’ Den; Ríoga Banjos, a Belfast maker of hand-built Irish tenor banjos; Ashlia, a fashion rental boutique in the Scottish Highlands; and RKB Boxing, a women-only boxing gym in Wales.
Two further ambassadors were chosen from specialist groups supported by the programme. Gen Z ambassador Mariam Sesay, 26, founded My Hapii, a plant-powered haircare brand inspired by Sierra Leonean traditions and designed for afro-textured and curly hair. Former Army surveyor Tim Jervis, 36, represents the Armed Forces community with Salt Pig Sandwiches in York, which he founded in 2025.
Advice from established founders
Sir Richard Branson, founder of Virgin Group and a supporter of Virgin StartUp, a delivery partner for the programme, told smaller business owners to “delegate as much as you can” and to “surround themselves with people who are better than them and let them get on with it. Don’t second guess people and let them create magic.”
Alex Wright, co-founder of DASH Water, said: “Don’t be afraid to put yourself out there – start small, get feedback, iterate, and go again. It’s the same model Eric Ries sets out in The Lean Startup, and it’s served us well at DASH.”
Louise McCoy, managing director of Start Up Loans at the British Business Bank, said: “This year’s Ambassadors represent the very best of UK entrepreneurship and Start Up Loans is proud to support founders from every devolved nation and region, helping them to take their first steps into business.”
Lord Leong, minister for small business and enterprise, said: “Start Up Loans have helped more than 100,000 entrepreneurs turn bold ideas into real businesses. Behind every business is a founder who took a chance – and the jobs created show how far that ambition can go with the right support.”
The figures follow the programme’s announcement in August that female founders in London had borrowed more than £100m through the scheme. The British Business Bank has said it intends to deliver 85,000 Start Up Loans over five years under its current strategy.
