Equity Investment into South West Growing at ‘Fastest Rate’ in UK
According to the British Business Bank’s second annual Nations and Regions Tracker the South West region’s equity finance market is growing at the fastest rate in the UK! This is really encouraging and reflects a combination of the positive appetite South West SMEs, in particular, have shown for equity finance and the attractiveness of the region (which is known to be something of a ‘hotbed’ of innovation and technology) to investors.
For the full story please read the bulletin below which was issued by Insider News today.
Roger Mundy, Managing Director, Beardsley Theobalds, 23rd November 2022
SOUTH WEST EQUITY FINANCE GROWING AT ‘FASTEST RATE’ IN UK
The South West's equity finance market is growing at the fastest rate in the UK, according to new data.
The British Business Bank's second annual Nations and Regions Tracker shows that while every region and nation outside London – apart from the West Midlands – saw an increase in equity investment in 2021, the South West showed the greatest growth.
During the period, investment value in the region was up 357 per cent to £820m across 130 deals.
This strength carried on into the first half of this year, with nearly £388m invested across 77 identified deals.
However, the report found that current economic conditions are "likely to see equity markets slowing over the remainder of the year".
Steve Conibear, UK network director for South and West of England at the British Business Bank, said: "Smaller businesses in the South West showed a positive appetite for equity finance during 2021, with the highest increase in value of equity investment in the UK.
"It is also encouraging to see evidence of a number of future Net Zero clusters emerging in the region, which is already known as a hotbed of innovation and technology.
"External finance can be an important tool for smaller businesses to promote growth and stability as they navigate the current economic conditions. We will continue support smaller businesses in the South West through the launch of our new £200m South West Investment Fund next year."
A £200m investment fund to support the growth of small and medium-sized businesses across the South West of England is on course to be launched in the first half of next year.
The South West Investment Fund is the first in a series of new Nations and Regions Investment Funds being implemented by the British Business Bank, which will provide a £1.6bn commitment of new funding to drive sustainable economic growth across the UK.