Startups, start your engines
The Seed Enterprise Investment Scheme (SEIS) which offers tax incentives to investors who back risky early stage companies, is set to enjoy a record year, according to newly released research.
The data, released by Symvan Capital Limited, was collected using a refreshingly simple method. Count how many companies asked HMRC for approval to raise money through SEIS in the tax year that ended on April 5th. Syman counted 3,030, a 6 per cent increase on the preceding year. That suggests that unless an unusually large number of entrepreneurs get cold feet - which could happen - a record number will go on to raise money through SEIS this year.
Kealan Doyle, the CEO of Symvan Capital, told Small Business on Wednesday:
"The market is in rude health [and] increasingly focusing on high-growth businesses, which can be defined as those that can provide robust short-to-medium term returns for investors.
‘There is ground-breaking technology in the UK that needs investment, and SEIS is helping them to get off the ground.
‘Small and medium sized companies are finding it harder than ever to access vital funding to ensure growth, so the fact that more and more are being exposed to potential investors can only be good for UK business."
Symvan Capital is raising a fund to invest in UK technology companies that have proven their commercial viability. Syman's funds are available on Kuber Ventures, a specialist, independent EIS and SEIS investment platform.