Tuesday 09th August 2022
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Surge in investment into small businesses showing ‘incredible signs of growth’

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A surge in funding deals for growing tech firms in the region meant the value of equity investment in smaller businesses in the East of England almost doubled to reach a record £1.4bn last year.

Research from the government-owned British Business Bank also shows that the number of deals in the region rose by 14 per cent to 169 with tech and IP-based businesses taking the largest share of the investment worth £956 million. Growing interest in clean tech in the East saw the value of deals in the sector rise to £30m in the region in 2021. The figures highlight a national upturn in small business equity investment which reached a £18.1 billion last year, the highest since records began in 2011 and which has continued into the opening months of 2022. Some £7.6bn of equity investment reached smaller businesses in the first quarter, double the amount in the period last year whilst the East of England saw £282m invested in the first three months.

Steve Conibear, UK network director, South and East of England at the British Business Bank, said: “Smaller businesses in the East of England are showing incredible signs of growth with the value of equity investments almost doubling to £1.4bn. We’ve seen almost £1bn invested in technology and IP-based businesses in the East of England. The British Business Bank will continue to support the region’s smaller businesses by improving access and options to secure external finance.”