East of England
The East continues to attract investment
The East of England’s heritage of fostering entrepreneurial businesses continues, as it bucks the national trend and enjoys increasing investment. The region is home to the third-highest number of high-growth companies in the country, with 360 – almost 9% of all UK high-growth companies. London has 1,529 and the South East has 572.
The number of companies with venture capital funding has increased from 19 in last year’s research to 25, while the number receiving expansion funding has decreased slightly, from eight in last year’s research to six. In terms of number of companies receiving funding, East of England ranks mid-table against other regions, with London (89), the South East (54), Wales (32) and Scotland (25) seeing greater or equal numbers of companies securing venture capital funding.
When it comes to the actual value of this funding, however, the East of England is seeing strong growth – venture capital funding is up from £16 million in last year’s research, to £23 million, while expansion funding has more than doubled from £20 million in last year’s research to reach £46 million.
This is in strong contrast to the picture at a UK-wide level, in which venture capital and expansion funding have both decreased since last year’s research, showing that the East of England continues to attract investment, even as this decreases elsewhere in the country.
National data offers a conflicted snapshot of entrepreneurship, while regional data proffers a promise of diversifying new business activity. London and the South East remain strong incubators, and the North’s entrepreneurial growth is strong.
A barometer of the entrepreneurial environment and activity in the UK. This, the ninth volume, focuses on three main indicators: start-up activity, growth of new business and exits of young enterprises.