The North West remains an established entrepreneurial hub, with the fourth-largest number of high-growth companies in the UK, with 320 – almost 8% of the UK total. Only London (1,529), the South East (572) and the East of England (360) boast more.
The number of private equity-backed companies in the region has dropped to 78, from 91 the previous year. Despite this decrease, the North West is home to the greatest number of private equity-backed companies of any region outside London (204) and the South East (115).
The number of companies with venture capital funding has seen a significant decrease, from 32 in last year’s research to just nine – the lowest number of any region except the East Midlands, which is home to three VC-backed companies. The value of VC investment has, however, actually increased to £12 million, from £11 million in last year’s research – suggesting that, while a lower number of companies are receiving VC funding, the average amount invested per company may be higher.