
Where is the next innovation hub?
Luke Davis, CEO of IW Capital, explains why London is no longer the obvious choice for entrepreneurs. ...
New restrictions and the continued effects of lockdown have meant that many people are reconsidering the London-centric view of business, entrepreneurship and investment. July and August saw house prices in London fall, despite a record month of property sales across the country, as lockdown fuelled an exodus to commuter towns and more rural areas.
Investment in start-ups and private companies has long been dominated by the Capital, with the number of deals in London making up the majority of the UK’s investment landscape. In other words, more deals are made in London than the rest of the UK combined.
One type of investment, however, is working especially hard to reverse this trend – Angel investment. This personal investment, alongside government programmes such as the Enterprise Investment Scheme, allows investors to support small, growing businesses on a case-by-case basis across the UK. A 2018 initiative from the British Business Bank pledged £100 million through the Regional Angels Programme to help curb this inequality.
Luke Davis, CEO and Founder of IW Capital, discusses where investment hubs will arise outside of London:
“London has dominated the UK finance and investment landscape since the early days of global trade. Investors, including myself, have for years commuted to London to hear pitches, meet entrepreneurs and make decisions. But now, as people migrate away from London, the way is much clearer for smaller towns and cities to become hubs of investment and innovation of their own.
I have seen a shift in entrepreneurs who are now actually considering why they need to found their start-up or small business in London. For a long time, choosing to start a firm in London has been almost gospel, but this is no longer the case.
For instance, in Brighton there is an incredibly diverse community of business founders and ideas that deserve recognition and funding just as much a London-based counterpart. I really see this as a turning point in regional investment.”
For more information visit: iwcapital.co.uk
For more Business & Leadership news follow i-invest Online
- Magic your team’s performanceThrough a coaching culture that brings together the present and future, your team’s goals will come sharply into focus, says Rosie Nice As we emerge into a post-Covid world, the cultures of our organisations matter more than ever. Individuals are increasingly making career decisions based on…
- Normalising disruption in a world of chaosBrands and marketers must invest in real-time information and make decisions based on what works for consumers now, not what worked months or years ago, says Ben Leet, CEO at Delineate The last three years have been defined by change. From the Covid-19 pandemic to the revolving…
- UK ranks second in G7 economies for economic impact of entrepreneurshipThe beta launch of the Shopify Entrepreneurship Index shows that British entrepreneurs generated over £28 billion worth of business activity in 2022. According to the index, entrepreneurs on Shopify in the UK grew their exports by 8% in the last year – valued at over…
- How businesses can futureproof their AI strategiesGetting ahead of the UK Government’s AI whitepaper On the 29th March 2023, the UK Government released its plans to balance AI risks with innovation, taking its first step to harnessing the true potential of the technology. The AI regulation whitepaper follows growing concerns around the…
- The trading partner you can trustWhether you’re just starting out, or moving to the next level, award-winning broker FairMarkets provides a safe, fair, and transparent trading environment Offering a whole range of products available across the biggest financial markets, including CFDs on forex, commodities, indices, stocks, and cryptocurrencies, FairMarkets International…