• Swindon & Wiltshire Economy
• Friday March 1 2024
• Author Name: Peter Davison

South West equity deals down a third amid national slowdown, reveals British Business Bank report

The South West has experienced a fall in small business equity investment across the South West according to figures released by the British Business Bank this morning (Friday).

The decline – which saw a 33 per cent drop in equity deals compared with the same period last year – was in line with the national picture.

The value of deals also fell – by 51 per cent to £187.5 million.

But the South West made up five per cent of deals taking place in the UK, putting it in the top five regions outside London.

The British Business bank said that although declining to levels last seen in 2020, equity investment is still high by historic standards.

Last year, the British Business Bank launched its £200 million South West Investment Fund to increase the availability and supply of finance to all parts of the region.

The fund offers loans ranging from £25,000 to £2 million and equity investments up to £5 million and is part of the Bank’s commitment to fostering sustainable economic growth by supporting businesses across the South West.

Steve Conibear, UK network director, South West at the British Business Bank, said: “Despite the falls we have seen in number and value of equity deals across the region from the unusual highs of 2021 and 2022, this has been in line with national trends and overall the market is still exceeding pre-pandemic levels.

“With the launch of the British Business Bank’s South West Investment Fund last year we have significantly increased the availability of equity finance in the region and we are already seeing the difference this is making in the local market.”