Business Growth Fund – Spotlight on Employee Network Group of the Year

Business Growth Fund (BGF) is an investment company that provides growth capital for small- and mid-sized businesses in the UK and Ireland and has approximately 190 employees split across 15 offices.

BGF logo


Despite BGF’s scale limitations for individual Employee Network Groups (ENGs), the organisation aimed to unite its members with a collective voice to drive diversity, equality, and inclusion (DEI) change. Geographic disparities and small office sizes further hindered the sense of community and shared purpose among demographic groups.

Innovative actions

BGF established the Diversity Action Group (DAG) to integrate DEI into its operations, featuring 50% female, 30% ethnically diverse, and 20% LGBTQ+ members. Annually rotating 14 representatives for diverse perspectives, BGF introduced an applicant tracking system (ATS) for talent tracking, conducted more frequent engagement surveys, and organised employee-led lunch and learns. Over one-third of the company regularly participated in sessions like “Reflections on Pride” and “Let’s Talk about Black.”

BGF also created an inclusion calendar, encouraging members to share personal lived experiences related to key events. It also leveraged DEI technology enablers like Recite-Me to further amplify its impact on diversity and inclusion efforts.

Evidence of impact

BGF has made significant strides in enhancing workplace diversity and inclusion. Employee disclosure has increased from 70% in 2021 to 93% in 2023, and diverse needs have been addressed based on voluntarily disclosed data.

The investment teams experienced a positive shift, with female representation rising from 20% in 2021 to 27% in 2022. Employee engagement is robust, as evidenced by an 81% satisfaction score, surpassing the industry norm of 71%. Participants expressed high levels of pride (93%), happiness (92%), and a strong recommendation rate (90%).

In 2023, BGF attracted diverse talent, receiving positive feedback on Glassdoor with a Culture rating of 4.6/5 and a DEI rating of 4.2/5 – a rise from 3.8% a year prior. The company earned a Level 2 accreditation from Diversity VC and is sought after for sharing insights at industry events and roundtables. BGF’s collective efforts demonstrate a tangible impact on fostering a more inclusive and diverse workplace.

The information contained within this resource was accurate at the time of its publication. This article was created in January 2024.

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