The South East of England saw an increase in equity investment in small businesses in 2021. That's according to newly-released data from the British Business Bank.
The BBB's annual Small Business Equity Tracker shows that firms across the region were backed almost a quarter more (some 24%) than they were in the previous year (2020). The trend was surmised from information taken from 269 deals in the South East.
There was a rise in value of the investments of almost 60%. With more than £1.6bn being invested throughout the twelve month period.
This isn't just a South East phenomenon, however. Increased equity investment has been seen nationally, with the British total rising 88% in 2021 to £18.1bn compared to the previous year. It represents the highest yearly rise since the Beauhurst data series began a decade ago. Of course, post-pandemic recovery looms large in the figures.
Steve Conibear is the UK Network Director for South and East of England at the British Business Bank. He said this about the news:
"Smaller businesses in the South East are showing impressive growth, especially in technology and IP based businesses that saw investment of almost £1bn. This further strengthens the South East's position as a European tech hub."
"Access to external finance has been critical to the recovery in the South East. The British Business Bank will continue to support the region’s essential smaller businesses by improving access and options to secure external finance."